Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-29

Southern First Bancshares Inc (SFST)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,146,832
R. Arthur Seaver, Jr. total, FY2025
1st
CEO pay percentile vs peers
15:1
CEO-to-median pay ratio
98.25%
Say-on-pay support, latest vote
Companies that benchmark against SFST
9 companies name SFST as a compensation peer

Each company listed discloses SFST in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named SFST in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
R. Arthur Seaver, Jr.$515,000$150,000$204,608$0$0$201,981$75,243$1,146,832
Chief Executive Officer
Calvin Hurst365,650135,000141,68012,37243,239697,941
President
Christian Zych319,300100,00077,28043,026539,606
Chief Financial Officer
Wesley Wilbanks235,00065,00036,80028,672365,472
Chief Credit Officer
Julie Fairchild206,00052,00000015,43838,792312,230
Chief Accounting Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
R. Arthur Seaver, Jr.$1,146,832$1,141,448+5,384
Calvin Hurst697,941719,003−21,062
Christian Zych539,606360,910+178,696
Wesley Wilbanks365,472
Julie Fairchild312,230321,066−8,836

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
R. Arthur Seaver JrDirector2026-04-22A100$0$0CommonForm 4 ↗
Christian ZychChief Financial Officer2026-05-21D153578,732CommonForm 4 ↗
Anna T. LockeDirector2026-06-01A31000CommonForm 4 ↗
Ray A. LattimoreDirector2026-06-01A31000CommonForm 4 ↗
William A. Maner, IVDirector2026-06-01A31000CommonForm 4 ↗
James B. Orders, IIIDirector2026-06-01A31000CommonForm 4 ↗
Tecumseh Hooper, JrDirector2026-06-01A31000CommonForm 4 ↗
Terry Grayson-CaprioDirector2026-06-01A31000CommonForm 4 ↗
Darrin Goss, SrDirector2026-06-01A31000CommonForm 4 ↗
David G. EllisonDirector2026-06-01A31000CommonForm 4 ↗
Anne S. EllefsonDirector2026-06-01A31000CommonForm 4 ↗
Mark A. CothranDirector2026-06-01A31000CommonForm 4 ↗
Jennifer S. CluveriusDirector2026-06-01A31000CommonForm 4 ↗
Andrew B. Cajka, JrDirector2026-06-01A31000CommonForm 4 ↗
KENNEDY, III BRYAN FDirector2026-06-01A31000CommonForm 4 ↗
James B. Orders, IIIDirector2026-06-01A31000CommonForm 4 ↗
William M. McClatchey, JrDirector2026-06-01A31000CommonForm 4 ↗
Rudolph G. Johnstone, IIIDirector2026-06-01A31000CommonForm 4 ↗
Leighton M. CubbageDirector2026-06-01A31000CommonForm 4 ↗
Leighton M. CubbageDirector2026-06-10D7656146,359CommonForm 4 ↗
Ray A. LattimoreDirector2026-06-23D2535914,997CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
William M. Aiken IIIRSU2025-02-012,150$79,120
Calvin HurstRSU2025-02-013,850141,680
Wesley WilbanksRSU2025-02-011,00036,800
R. Arthur Seaver, Jr.RSU2025-02-015,560204,608
Christian ZychRSU2025-02-012,10077,280
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
William M. Aiken III$79,120$0$00.0%
Calvin Hurst141,680000.0%
Wesley Wilbanks36,800000.0%
R. Arthur Seaver, Jr.204,608000.0%
Christian Zych77,280000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
R. Arthur Seaver, Jr.RSU13,804$711,182
Calvin HurstRSU8,971462,186
Christian ZychRSU3,600185,472
Wesley WilbanksRSU2,312119,114
Julie FairchildRSU1,50077,280
05

Incentive-plan design — the Compensation Discussion & Analysis

we seek to align the interests of our named executive officers with the interests of our shareholders. Therefore, our compensation programs are designed to reward our named executive officers for the achievement of strategic and operational goals and the achievement of increased shareholder value, while at the same time avoiding the encouragement of unnecessary or excessive risk-taking. We believe that our compensation policies and procedures are competitive and focused on performance and are strongly aligned with the long-term interest of our shareholders.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMcLagan (Aon Company)
Clawback policytrue
Anti-hedgingTrue
Anti-pledgingFalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-196,504,371115,5466,45798.25%Passed
20252025-05-205,540,0201,069,59127,67883.47%Passed
20242024-05-214,726,9231,679,8946,47873.71%Passed
20232023-05-164,312,3802,091,829102,23467.34%Passed
20222022-05-176,011,283128,900130,86297.9%Passed
20212021-05-185,921,726182,592133,13097.01%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1998.25%a
20252025-05-2083.47%b
20242024-05-2173.71%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as votes cast on these proposals and therefore will have no effect on the outcome of such matters.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have the effect of a vote "against" this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have the effect of a vote "against" this proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)15 : 1
CEO total compensation$1,146,833
Median employee compensation$77,891
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Andrew B. Cajka, JrIndependent · Audit (Chair) · Nominating/Governance$53,300$17,494$0$0$0$70,794
James B. Orders, IIIIndependent · Board Chair · Audit · Nominating/Governance · Compensation52,20017,49400069,694
Anne S. EllefsonIndependent · Audit · Compensation (Chair)46,10017,49400063,594
Terry Grayson-CaprioIndependent · Audit · Nominating/Governance (Chair)46,10017,49400063,594
Anna T. LockeIndependent · Audit42,50017,49400059,994
Rudolph G. Johnstone, IIIIndependent · Compensation42,50017,49400059,994
William A. Maner, IVIndependent · Compensation42,50017,49400059,994
Tecumseh Hooper, JrIndependent · Compensation41,20017,49400058,694
David G. EllisonIndependent · Risk (Chair)40,60017,49400058,094
Leighton M. CubbageIndependent · Audit · Compensation40,00017,49400057,494
Ray A. LattimoreIndependent · Risk39,90017,49400057,394
Mark A. CothranIndependent · Risk39,90017,49400057,394
Darrin Goss, SrIndependent · Audit20,90017,49400038,394
William M. McClatchey, JrIndependent · Risk18,30017,49400035,794
Jennifer S. CluveriusIndependent · Compensation · Partial-year service18,30017,49400035,794
R. Arthur Seaver, JrEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$24,000
Annual equity retainer$17,494
Per board meeting fee$1,300
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$584,300
Equity awards (grant-date value)$262,410
All other compensation$0
Total cost of the board$846,710

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Southern First Bancshares Inc2025R. Arthur Seaver, Jr.$515,000$204,608$0$0$1,146,832

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Southern First Bancshares Inc in fiscal 2025?
As disclosed, the highest-paid executive was R. Arthur Seaver, Jr., who received total compensation of $1,146,832.
How does Southern First Bancshares Inc's chief executive pay compare to its disclosed peer group?
The filing shows the CEO's pay percentile among disclosed peers was 1st.
What is Southern First Bancshares Inc's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 15:1.
How did shareholders vote on Southern First Bancshares Inc's executive compensation?
Shareholders approved the executive compensation plan with 98.25% support in the latest vote.
How much does Southern First Bancshares Inc spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $846,710.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, R. Arthur Seaver, Jr.DEF 14A2026-04-060001206774-26-000194Section “Summary Compensation Table”. As printed: 1,146,832. Filing ↗machine: t89 · r1 · c9 · span 443118–443127
2Section 01, Calvin HurstDEF 14A2026-04-060001206774-26-000194Section “Summary Compensation Table”. As printed: 697,941. Filing ↗machine: r4 · c9 · span 448357–448364
3Section 01, Christian ZychDEF 14A2026-04-060001206774-26-000194Section “Summary Compensation Table”. As printed: 539,606. Filing ↗machine: r7 · c9 · span 453106–453113
4Section 01, Wesley WilbanksDEF 14A2026-04-060001206774-26-000194Section “Summary Compensation Table”. As printed: 365,472. Filing ↗machine: r12 · c9 · span 461184–461191
5Section 01, Julie FairchildDEF 14A2026-04-060001206774-26-000194Section “Executive Compensation”. As printed: 312,230. Filing ↗
6Section 03, William M. Aiken III RSUDEF 14A2026-04-060001206774-26-000194Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t92 · r6 · c7 · span 484135–484141
7Section 03, Calvin Hurst RSUDEF 14A2026-04-060001206774-26-000194Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t92 · r4 · c7 · span 482166–482173
8Section 03, Wesley Wilbanks RSUDEF 14A2026-04-060001206774-26-000194Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t92 · r7 · c7 · span 485390–485396
9Section 03, R. Arthur Seaver, Jr. RSUDEF 14A2026-04-060001206774-26-000194Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t92 · r3 · c7 · span 481185–481192
10Section 03, Christian Zych RSUDEF 14A2026-04-060001206774-26-000194Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t92 · r5 · c7 · span 483149–483155
11Section 07, pay ratioDEF 14A2026-04-06000120677426000194Section “CEO Pay Ratio”. As printed: 15 : 1. Filing ↗machine: span 626227–626234
12Section 08, Andrew B. Cajka, JrDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 70,794. Filing ↗machine: t116 · r2 · c4 · span 738464–738470
13Section 08, James B. Orders, IIIDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 69,694. Filing ↗machine: t116 · r16 · c4 · span 748331–748337
14Section 08, Anne S. EllefsonDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 63,594. Filing ↗machine: t116 · r6 · c4 · span 741279–741285
15Section 08, Terry Grayson-CaprioDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 63,594. Filing ↗machine: t116 · r9 · c4 · span 743389–743395
16Section 08, Anna T. LockeDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 59,994. Filing ↗machine: t116 · r13 · c4 · span 746207–746213
17Section 08, Rudolph G. Johnstone, IIIDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 59,994. Filing ↗machine: t116 · r11 · c4 · span 744806–744812
18Section 08, William A. Maner, IVDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 59,994. Filing ↗machine: t116 · r14 · c4 · span 746913–746919
19Section 08, Tecumseh Hooper, JrDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 58,694. Filing ↗machine: t116 · r10 · c4 · span 744095–744101
20Section 08, David G. EllisonDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 58,094. Filing ↗machine: t116 · r7 · c4 · span 741981–741987
21Section 08, Leighton M. CubbageDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 57,494. Filing ↗machine: t116 · r5 · c4 · span 740577–740583
22Section 08, Ray A. LattimoreDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 57,394. Filing ↗machine: t116 · r12 · c4 · span 745508–745514
23Section 08, Mark A. CothranDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 57,394. Filing ↗machine: t116 · r4 · c4 · span 739872–739878
24Section 08, Darrin Goss, SrDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 38,394. Filing ↗machine: t116 · r8 · c4 · span 742683–742689
25Section 08, William M. McClatchey, JrDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 35,794. Filing ↗machine: t116 · r15 · c4 · span 747625–747631
26Section 08, Jennifer S. CluveriusDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 35,794. Filing ↗machine: t116 · r3 · c4 · span 739171–739177
27Section 08, R. Arthur Seaver, JrDEF 14A2026-04-060001206774-26-000194Section “Director Compensation”. As printed: 0. Filing ↗
28Section 02, R. Arthur Seaver Jr 2026-04-22Form 42026-04-220001090009-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Christian Zych 2026-05-21Form 42026-05-220001090009-26-000032Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Anna T. Locke 2026-06-01Form 42026-06-020001090009-26-000080Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Ray A. Lattimore 2026-06-01Form 42026-06-030001090009-26-000084Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, William A. Maner, IV 2026-06-01Form 42026-06-030001090009-26-000082Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, James B. Orders, III 2026-06-01Form 42026-06-020001090009-26-000073Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Tecumseh Hooper, Jr 2026-06-01Form 42026-06-020001090009-26-000069Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Terry Grayson-Caprio 2026-06-01Form 42026-06-020001090009-26-000066Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Darrin Goss, Sr 2026-06-01Form 42026-06-020001090009-26-000061Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, David G. Ellison 2026-06-01Form 42026-06-020001090009-26-000059Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Anne S. Ellefson 2026-06-01Form 42026-06-020001090009-26-000057Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Mark A. Cothran 2026-06-01Form 42026-06-020001090009-26-000054Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Jennifer S. Cluverius 2026-06-01Form 42026-06-020001090009-26-000047Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Andrew B. Cajka, Jr 2026-06-01Form 42026-06-020001090009-26-000044Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, KENNEDY, III BRYAN F 2026-06-01Form 42026-06-020001090009-26-000039Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, James B. Orders, III 2026-06-01Form 42026-06-020001090009-26-000049Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, William M. McClatchey, Jr 2026-06-01Form 42026-06-020001090009-26-000078Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Rudolph G. Johnstone, III 2026-06-01Form 42026-06-020001090009-26-000071Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Leighton M. Cubbage 2026-06-01Form 42026-06-020001090009-26-000075Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Leighton M. Cubbage 2026-06-10Form 42026-06-120001090009-26-000086Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Ray A. Lattimore 2026-06-23Form 42026-07-290001090009-26-000088Insider equity transaction reported since the proxy statement. Filing ↗
49Section 06, 2026 voteForm 8-K2026-05-200001206774-26-000289Item 5.07 · say-on-pay result. As reported: 98.25% (votes for as printed: 6,504,371). Filing ↗
50Section 06, 2025 voteForm 8-K2025-05-210001206774-25-000374Item 5.07 · say-on-pay result. As reported: 83.47% (votes for as printed: 5,540,020). Filing ↗
51Section 06, 2024 voteForm 8-K2024-05-210001206774-24-000579Item 5.07 · say-on-pay result. As reported: 73.71% (votes for as printed: 4,726,923). Filing ↗
52Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
53Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
54Section 09b board cost (computed)ComputedcomputedCash 584,300 + equity 262,410 + all other 0 = 846,710, summed across the director compensation table rows.machine: formula: Σ = 846,710
55Southern First Bancshares Inc (subject), Section 10b CEO totalDEF 14A2026-04-060001206774-26-000194CEO total compensation as printed in Southern First Bancshares Inc's own proxy. As printed: 1,146,832. Filing ↗machine: t89 · r1 · c9 · span 443118–443127