Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-12

SmartFinancial Inc. (SMBK)

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.

$1,717,633
William Carroll, Jr. total, FY2025
40th
CEO pay percentile vs peers
25:1
CEO-to-median pay ratio
97.09%
Say-on-pay support, latest vote
Companies that benchmark against SMBK
12 companies name SMBK as a compensation peer

Each company listed discloses SMBK 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 SMBK 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
William Carroll, Jr.$657,297$0$476,757$0$509,433$0$74,146$1,717,633
President and Chief Executive Officer
Wesley Welborn345,6880223,5350196,895080,253846,371
Chairman of the Board
Ronald Gorczynski360,4800221,8310208,574040,938831,823
Chief Financial Officer
Rhett Jordan330,885043,0380189,774046,882610,579
Chief Credit Officer
Cynthia Cain264,9530115,7980196,895028,576606,222
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
William Carroll, Jr.$1,717,633$1,039,830+677,803
Wesley Welborn846,371577,861584,497+268,510
Ronald Gorczynski831,823517,848525,881+313,975
Rhett Jordan610,579474,926504,794+135,653
Cynthia Cain606,222413,356369,418+192,866

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
Rhett JordanEVP & CHIEF CREDIT OFFICER2026-04-24D500$42$20,925CommonForm 4 ↗
Geoffrey A. WolpertDirector2026-05-01D23,72100CommonForm 4 ↗
Geoffrey A. WolpertDirector2026-05-01A23,72100CommonForm 4 ↗
Kelli D. ShomakerDirector2026-05-04A2904111,977CommonForm 4 ↗
Geoffrey A. WolpertDirector2026-05-18D24,84900CommonForm 4 ↗
Geoffrey A. WolpertDirector2026-05-19A31,11800CommonForm 4 ↗
Geoffrey A. WolpertDirector2026-05-19D31,11800CommonForm 4 ↗
Cathy G. AckermannDirector2026-06-04A3,00042126,360CommonForm 4 ↗
Victor L. BarrettDirector2026-06-10A3,00044131,340CommonForm 4 ↗
Rhett JordanEVP & CHIEF CREDIT OFFICER2026-06-12D4004518,000CommonForm 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 Carroll, Jr.RSU2025-01-2913,426$476,757
Rhett JordanRSU2025-01-291,21243,038
Ronald GorczynskiRSU2025-01-296,247221,831
Wesley WelbornRSU2025-01-296,295223,535
Cynthia CainRSU2025-01-293,261115,798
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
William Carroll, Jr.$476,757$0$00.0%
Rhett Jordan43,038000.0%
Ronald Gorczynski221,831000.0%
Wesley Welborn223,535000.0%
Cynthia Cain115,798000.0%

% 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
Ronald GorczynskiRSU5,000$184,950
William Carroll, Jr.RSU11,873439,182
Wesley WelbornRSU5,000184,950
Cynthia CainRSU1,50055,485
Wesley WelbornRSU4,659172,336
William Carroll, Jr.RSU10,000369,900
William Carroll, Jr.RSU6,500240,435
Wesley WelbornRSU71726,522
Ronald GorczynskiRSU2,50092,475
Cynthia CainRSU76128,149
Ronald GorczynskiRSU67725,042
Rhett JordanRSU65824,339
Ronald GorczynskiRSU4,321159,834
Rhett JordanRSU4,199155,321
Cynthia CainRSU2,00073,980
Ronald GorczynskiRSU1,24746,127
Cynthia CainRSU50618,717
Wesley WelbornRSU1,29547,902
Rhett JordanRSU2,50092,475
Rhett JordanRSU1,21244,832
Cynthia CainRSU1,69662,735
Cynthia CainRSU2,50092,475
William Carroll, Jr.RSU1,86168,838
William Carroll, Jr.RSU3,426126,728
Wesley WelbornRSU4,400162,756
05

Incentive-plan design — the Compensation Discussion & Analysis

Our philosophy generally targets near the market median (peer 50 percentile) for NEOs base salaries. We also place a strong emphasis on incentive compensation programs that strive to provide an alignment between pay and performance.

CEO STI target (% of salary)60%
CEO LTI target (% of salary)
Independent consultantBlanchard Consulting Group
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2111,056,323331,56617,23697.09%Passed
20252025-05-2210,937,384185,7187,33298.33%Passed
20242024-05-2311,073,244202,30310,97498.21%Passed
20232023-05-2510,302,680174,5094,87298.33%Passed
20222022-05-269,877,355157,4687,96598.43%Passed
20192019-05-027,880,213136,56919,25498.3%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
20262026-05-2197.09%a
20252025-05-2298.33%b
20242024-05-2398.21%c

a. Approved under the standard stated in the filing — “Abstentions, broker non-votes, and the failure to return a signed proxy will have no effect on the outcome of the vote on this matter.”.

b. Approved under the standard stated in the filing — “Abstentions, broker non-votes, and the failure to return a signed proxy will have no effect on the outcome of the vote on this matter.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted as having voted either for or against a 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)25 : 1
CEO total compensation$1,717,633
Median employee compensation$69,128
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
William (Bill) Y. Carroll, SrNot independent$251,786$0$0$0$251,786
David A. OgleIndependent · Lead Independent Director · Nominating (Chair) · Human Resources and Compensation (Chair)73,00032,000000105,000
Victor L. BarrettIndependent · Audit (Chair) · Human Resources and Compensation67,00032,00000099,000
Geoffrey A. WolpertIndependent · Corporate Governance (Chair) · Human Resources and Compensation55,00032,00000087,000
Steve B. TuckerIndependent · Strategic Oversight (Chair) · Audit54,00032,00000086,000
Cathy G. AckermannIndependent · Audit51,00032,00000083,000
Keith E. Whaley, O.DIndependent · Audit44,00032,00000076,000
Ted C. MillerIndependent · Strategic Oversight · Departed during FY26,00032,00000058,000
Kelli D. ShomakerIndependent · Newly elected30,00027,29000057,290
Wesley M. (Miller) WelbornNot independent · Board Chair000000
William (Billy) Y. Carroll, JrEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$32,000
Annual equity retainer$32,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)8,000 / 5,000 / 3,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$651,786
Equity awards (grant-date value)$251,290
All other compensation$0
Total cost of the board$903,076

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

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies SmartFinancial Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including SmartFinancial Inc..

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
1Capital City Bank Group, Inc.2025William G. Smith, Jr.$511,667$371,110$0$1,284,253$3,135,873
2Old Second Bancorp, Inc.2025James Eccher914,2171,075,0660852,3003,108,135
3Civista Bancshares, Inc.2025Dennis Shaffer573,657166,2460258,1462,894,036
4Business First Bancshares, Inc.2025David Melville, III801,500864,5060666,5822,582,764
5Lakeland Financial Corporation2025David Findlay739,6541,304,5820393,1282,473,892
6First Financial Corporation2025Norman D. Lowery675,350523,5030486,2522,395,725
7First Mid Bancshares, Inc.2025Joseph Dively543,400514,27201,019,3642,109,337
8German American Bancorp, Inc.2025D. Neil Dauby770,000517,4640602,5252,068,536
9Horizon Bancorp, Inc.2025Thomas Prame685,000569,9730601,0881,965,115
10Republic Bancorp, Inc.2025Logan Pichel698,174401,048197,291500,0001,819,342
11Great Southern Bancorp, Inc.2025Joseph Turner518,072093,756872,9701,815,277
12Wilson Bank Holding Company2025John C. McDearman III627,32800961,6011,810,845
13SmartFinancial Inc.2025William Carroll, Jr.657,297476,7570509,4331,717,633
14Farmers National Banc Corp.2025Kevin Helmick686,850331,9130536,2501,644,243
15Community Trust Bancorp, Inc.2025Mark Gooch721,962137,0900740,4001,639,760
16Midland States Bancorp Inc.2025Jeffrey Ludwig749,800562,3220194,9561,532,241
17HomeTrust Bancshares, Inc.2025C. Hunter Westbrook675,769349,4000422,5301,487,191
18HBT Financial, Inc.2025J. Lance Carter570,686278,6000427,8151,294,800
19Southern First Bancshares, Inc.2025R. Arthur Seaver, Jr.515,000204,608001,146,832
20Southern Missouri Bancorp, Inc2025Greg A. Steffens461,00037,76340,5900690,774
21First Guaranty Bancshares, Inc.2025Michael Mineer413,333000464,421

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
SmartFinancial Inc.127.3%RSU 100NoBlanchard Consulting Group
Business First Bancshares, Inc.123.93%RSU 50 · PSU 50NoAon's Human Capital Solutions practice (McLagan)
Capital City Bank Group, Inc.160.63%PSU 60 · Cash LTI 40NoBlanchard Consulting Group
Civista Bancshares, Inc.74%RSU 100not disclosedBlanchard Consulting Group
Community Trust Bancorp, Inc.75%Cash LTI 100NoPearl Meyer
Farmers National Banc Corp.150%PSU 50 · RSU 25 · Cash LTI 25NoAon
First Financial Corporation126.05%RSU 100NoPearl Meyer
First Guaranty Bancshares, Inc.not disclosednot disclosednot disclosednot disclosed
First Mid Bancshares, Inc.not disclosednot disclosednot disclosedBlanchard Consulting
German American Bancorp, Inc.67%RSU 100NoBCG
Great Southern Bancorp, Inc.not disclosedOption 100not disclosedPearl Meyer & Partners, LLC
HBT Financial, Inc.149%RSU 50 · PSU 50NoMcLagan Partners Inc.
HomeTrust Bancshares, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Horizon Bancorp, Inc.not disclosednot disclosednot disclosedPearl Meyer
Lakeland Financial Corporation106%PSU 60 · RSU 40NoPearl Meyer & Partners
Midland States Bancorp Inc.40%RSU 100not disclosedPearl Meyer & Partners, LLC
Old Second Bancorp, Inc.118.4%RSU 50 · PSU 50NoAON/McLagan
Republic Bancorp, Inc.100%not disclosedNonot disclosed
Southern First Bancshares, Inc.not disclosedRSU 100not disclosedMcLagan (Aon Company)
Southern Missouri Bancorp, Inc16.7%not disclosednot disclosednot disclosed
Wilson Bank Holding Companynot disclosednot disclosednot disclosedNewcleus Compensation Advisors

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at SmartFinancial Inc. in fiscal 2025?
The highest-paid executive at SmartFinancial Inc. in fiscal 2025 was William Carroll, Jr., who served as President and Chief Executive Officer.
How does SmartFinancial Inc.'s chief executive pay compare to its disclosed peer group?
The CEO's pay was at the 40th percentile of the disclosed peer group.
What is SmartFinancial Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 25:1.
How did shareholders vote on SmartFinancial Inc.'s executive compensation?
Shareholders voted 97.09% in support of the latest executive compensation plan.
How much does SmartFinancial Inc. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $903,076.

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, William Carroll, Jr.DEF 14A2026-04-070001104659-26-040440Section “Named Executive Officers” · page 39. As printed: 1,717,633. Filing ↗machine: t125 · r5 · c14 · span 980764–980773
2Section 01, Wesley WelbornDEF 14A2026-04-070001104659-26-040440Section “Named Executive Officers” · page 39. As printed: 846,371. Filing ↗machine: t125 · r9 · c14 · span 997417–997424
3Section 01, Ronald GorczynskiDEF 14A2026-04-070001104659-26-040440Section “Named Executive Officers” · page 39. As printed: 831,823. Filing ↗machine: t125 · r13 · c14 · span 1014053–1014060
4Section 01, Rhett JordanDEF 14A2026-04-070001104659-26-040440Section “Named Executive Officers” · page 39. As printed: 610,579. Filing ↗machine: t125 · r17 · c14 · span 1030698–1030705
5Section 01, Cynthia CainDEF 14A2026-04-070001104659-26-040440Section “Named Executive Officers” · page 39. As printed: 606,222. Filing ↗machine: t125 · r21 · c14 · span 1047287–1047294
6Section 03, William Carroll, Jr. RSUDEF 14A2026-04-070001104659-26-040440Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r9 · c12 · span 1146907–1146914
7Section 03, Rhett Jordan RSUDEF 14A2026-04-070001104659-26-040440Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r15 · c12 · span 1167688–1167694
8Section 03, Ronald Gorczynski RSUDEF 14A2026-04-070001104659-26-040440Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r13 · c12 · span 1160771–1160778
9Section 03, Wesley Welborn RSUDEF 14A2026-04-070001104659-26-040440Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r11 · c12 · span 1153849–1153856
10Section 03, Cynthia Cain RSUDEF 14A2026-04-070001104659-26-040440Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r17 · c12 · span 1175045–1175052
11Section 07, pay ratioDEF 14A2026-04-070001104659-26-040440Section “CEO Pay Ratio”. As printed: 25 : 1. Filing ↗machine: span 1644428–1644430
12Section 08, William (Bill) Y. Carroll, SrDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 251,786. Filing ↗machine: t63 · r5 · c2 · span 539067–539074
13Section 08, David A. OgleDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 105,000. Filing ↗machine: t63 · r7 · c6 · span 544441–544448
14Section 08, Victor L. BarrettDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 99,000. Filing ↗machine: t63 · r4 · c6 · span 538023–538029
15Section 08, Geoffrey A. WolpertDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 87,000. Filing ↗machine: t63 · r11 · c6 · span 552830–552836
16Section 08, Steve B. TuckerDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 86,000. Filing ↗machine: t63 · r9 · c6 · span 548513–548519
17Section 08, Cathy G. AckermannDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 83,000. Filing ↗machine: t63 · r3 · c6 · span 536053–536059
18Section 08, Keith E. Whaley, O.DDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 76,000. Filing ↗machine: t63 · r10 · c6 · span 550487–550493
19Section 08, Ted C. MillerDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 58,000. Filing ↗machine: t63 · r6 · c6 · span 542342–542348
20Section 08, Kelli D. ShomakerDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 57,290. Filing ↗machine: t63 · r8 · c6 · span 546412–546418
21Section 08, Wesley M. (Miller) WelbornDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 0. Filing ↗
22Section 08, William (Billy) Y. Carroll, JrDEF 14A2026-04-070001104659-26-040440Section “Director Compensation”. As printed: 0. Filing ↗
23Section 02, Rhett Jordan 2026-04-24Form 42026-04-240001652739-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Geoffrey A. Wolpert 2026-05-01Form 42026-05-200001652520-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Geoffrey A. Wolpert 2026-05-01Form 42026-05-200001652520-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Kelli D. Shomaker 2026-05-04Form 42026-05-040002062403-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Geoffrey A. Wolpert 2026-05-18Form 42026-05-200001652520-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Geoffrey A. Wolpert 2026-05-19Form 42026-05-200001652520-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Geoffrey A. Wolpert 2026-05-19Form 42026-05-200001652520-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Cathy G. Ackermann 2026-06-04Form 42026-06-040001905239-26-000005Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Victor L. Barrett 2026-06-10Form 42026-06-100001652321-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Rhett Jordan 2026-06-12Form 42026-06-120001652739-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
33Section 06, 2026 voteForm 8-K2026-05-220001104659-26-065799Item 5.07 · say-on-pay result. As reported: 97.09% (votes for as printed: 11,056,323). Filing ↗
34Section 06, 2025 voteForm 8-K2025-05-220001558370-25-008113Item 5.07 · say-on-pay result. As reported: 98.33% (votes for as printed: 10,937,384). Filing ↗
35Section 06, 2024 voteForm 8-K2024-05-280001558370-24-008687Item 5.07 · say-on-pay result. As reported: 98.21% (votes for as printed: 11,073,244). Filing ↗
36Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
37Section 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
38Section 09b board cost (computed)ComputedcomputedCash 651,786 + equity 251,290 + all other 0 = 903,076, summed across the director compensation table rows.machine: formula: Σ = 903,076
39Capital City Bank Group, Inc., Section 10b CEO totalDEF 14A2026-03-100001140361-26-008786CEO total compensation as printed in Capital City Bank Group, Inc.'s own proxy. As printed: 3,135,873. Filing ↗machine: t149 · r2 · c25 · span 550486–550495
40Old Second Bancorp, Inc., Section 10b CEO totalDEF 14A2026-04-060001104659-26-039829CEO total compensation as printed in Old Second Bancorp, Inc.'s own proxy. As printed: 3,108,135. Filing ↗machine: t130 · r8 · c16 · span 753236–753245
41Civista Bancshares, Inc., Section 10b CEO totalDEF 14A2026-04-070001193125-26-145510CEO total compensation as printed in Civista Bancshares, Inc.'s own proxy. As printed: 2,894,036. Filing ↗machine: span 535149–535158
42Business First Bancshares, Inc., Section 10b CEO totalDEF 14A2026-04-080001437749-26-011695CEO total compensation as printed in Business First Bancshares, Inc.'s own proxy. As printed: 2,582,764. Filing ↗machine: t162 · r8 · c22 · span 576719–576728
43Lakeland Financial Corporation, Section 10b CEO totalDEF 14A2026-03-050000721994-26-000036CEO total compensation as printed in Lakeland Financial Corporation's own proxy. As printed: 2,473,892. Filing ↗machine: span 916200–916209
44First Financial Corporation, Section 10b CEO totalDEF 14A2026-03-170000714562-26-000017CEO total compensation as printed in First Financial Corporation's own proxy. As printed: 2,395,725. Filing ↗machine: r2 · c8 · span 818114–818123
45First Mid Bancshares, Inc., Section 10b CEO totalDEF 14A2026-03-170001193125-26-109951CEO total compensation as printed in First Mid Bancshares, Inc.'s own proxy. As printed: 2,109,337. Filing ↗machine: r2 · c12 · span 869694–869704
46German American Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-180001104659-26-030015CEO total compensation as printed in German American Bancorp, Inc.'s own proxy. As printed: 2,068,536. Filing ↗machine: span 816342–816351
47Horizon Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-200000706129-26-000033CEO total compensation as printed in Horizon Bancorp, Inc.'s own proxy. As printed: 1,965,115. Filing ↗machine: span 583985–583994
48Republic Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-130001104659-26-027241CEO total compensation as printed in Republic Bancorp, Inc.'s own proxy. As printed: 1,819,342. Filing ↗machine: t262 · r15 · c18 · span 1699364–1699373
49Great Southern Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-310002077096-26-000017CEO total compensation as printed in Great Southern Bancorp, Inc.'s own proxy. As printed: 1,815,277. Filing ↗machine: span 320537–320546
50Wilson Bank Holding Company, Section 10b CEO totalDEF 14A2026-03-200001193125-26-117756CEO total compensation as printed in Wilson Bank Holding Company's own proxy. As printed: 1,810,845. Filing ↗machine: t10 · r4 · c24 · span 602820–602829
51SmartFinancial Inc. (subject), Section 10b CEO totalDEF 14A2026-04-070001104659-26-040440CEO total compensation as printed in SmartFinancial Inc.'s own proxy. As printed: 1,717,633. Filing ↗machine: t125 · r5 · c14 · span 980764–980773
52Farmers National Banc Corp., Section 10b CEO totalDEF 14A2026-03-160001437749-26-008310CEO total compensation as printed in Farmers National Banc Corp.'s own proxy. As printed: 1,644,243. Filing ↗machine: r2 · c28 · span 608756–608765
53Community Trust Bancorp, Inc., Section 10b CEO totalDEF 14A2026-03-180001140361-26-009965CEO total compensation as printed in Community Trust Bancorp, Inc.'s own proxy. As printed: 1,639,760. Filing ↗machine: t117 · r1 · c6 · span 440283–440292
54Midland States Bancorp Inc., Section 10b CEO totalDEF 14A2026-03-230001104659-26-033298CEO total compensation as printed in Midland States Bancorp Inc.'s own proxy. As printed: 1,532,241. Filing ↗machine: r1 · c35 · span 487815–487824
55HomeTrust Bancshares, Inc., Section 10b CEO totalDEF 14A2026-04-070001538263-26-000032CEO total compensation as printed in HomeTrust Bancshares, Inc.'s own proxy. As printed: 1,487,191. Filing ↗machine: span 442986–442995
56HBT Financial, Inc., Section 10b CEO totalDEF 14A2026-04-080000775215-26-000037CEO total compensation as printed in HBT Financial, Inc.'s own proxy. As printed: 1,294,800. Filing ↗machine: span 498480–498489
57Southern First Bancshares, Inc., 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
58Southern Missouri Bancorp, Inc, Section 10b CEO totalDEF 14A2025-09-190001104659-25-091709CEO total compensation as printed in Southern Missouri Bancorp, Inc's own proxy. As printed: 690,774. Filing ↗machine: t45 · r6 · c26 · span 506049–506056
59First Guaranty Bancshares, Inc., Section 10b CEO totalDEF 14A2026-04-210001408534-26-000024CEO total compensation as printed in First Guaranty Bancshares, Inc.'s own proxy. As printed: 464,421. Filing ↗machine: t7 · r2 · c10 · span 148583–148591
60Section 10a, First Financial Corporation reciprocityDEF 14A0000714562-26-000017First Financial Corporation's most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
61Section 10a, Lakeland Financial Corporation reciprocityDEF 14A0000721994-26-000036Lakeland Financial Corporation's most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
62Section 10a, Business First Bancshares, Inc. reciprocityDEF 14A0001437749-26-011695Business First Bancshares, Inc. names SmartFinancial Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
63Section 10a, German American Bancorp, Inc. reciprocityDEF 14A0001104659-26-030015German American Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
64Section 10a, First Mid Bancshares, Inc. reciprocityDEF 14A0001193125-26-109951First Mid Bancshares, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
65Section 10a, Old Second Bancorp, Inc. reciprocityDEF 14A0001104659-26-039829Old Second Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
66Section 10a, Civista Bancshares, Inc. reciprocityDEF 14A0001193125-26-145510Civista Bancshares, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
67Section 10a, Capital City Bank Group, Inc. reciprocityDEF 14A0001140361-26-008786Capital City Bank Group, Inc. names SmartFinancial Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
68Section 10a, HBT Financial, Inc. reciprocityDEF 14A0000775215-26-000037HBT Financial, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
69Section 10a, Midland States Bancorp Inc. reciprocityDEF 14A0001104659-26-033298Midland States Bancorp Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
70Section 10a, HomeTrust Bancshares, Inc. reciprocityDEF 14A0001538263-26-000032HomeTrust Bancshares, Inc. names SmartFinancial Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
71Section 10a, Horizon Bancorp, Inc. reciprocityDEF 14A0000706129-26-000033Horizon Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
72Section 10a, Community Trust Bancorp, Inc. reciprocityDEF 14A0001140361-26-009965Community Trust Bancorp, Inc. names SmartFinancial Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
73Section 10a, Southern First Bancshares, Inc. reciprocityDEF 14A0001206774-25-000204Southern First Bancshares, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
74Section 10a, Republic Bancorp, Inc. reciprocityDEF 14A0001104659-26-027241Republic Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗
75Section 10a, Farmers National Banc Corp. reciprocityDEF 14A0001437749-26-008310Farmers National Banc Corp.'s most recent proxy was read; its disclosed peer group does not include SmartFinancial Inc.. Filing ↗