Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-24

WESTAMERICA BANCORPORATION (WABC)

CEO David Payne was paid $802,645 in fiscal year 2025, ↑ up 2.0% from fiscal year 2024 (SEC filing 0001174947-26-000355 ↗): 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.

$802,645 ↑
David Payne total, FY2025
—
CEO pay percentile vs peers
17.65:1
CEO-to-median pay ratio
97.98%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- David Payne (Chairman, President & CEO), FY2025 total compensation $802,645 (base salary $371,000) [exec_comp, SEC accession 0001174947-26-000355, filed 2026-03-13]

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WABC's next annual pay disclosure, estimated March 12, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David Payne$371,000$0$0$0$400,000$0$31,645$802,645
Chairman, President & CEO
Brian Donohoe130,0080110,897181,64186,400038,243547,189
SVP & Chief Information Officer
Anela Jonas148,892082,528156,91599,80048342,813531,431
SVP & Chief Financial Officer
Russell Rizzardi126,7350103,676170,22966,000013,230479,870
SVP & Chief Credit Administrator
John Robert Thorson87,1010127,403208,269018,49116,795458,059
SVP & Treasurer
Robert Baker130,021074,275139,79774,20096323,980443,236
SVP & Banking Division Manager

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 FY2024→2025
David Payne$802,645$786,658$758,701↑ +15,987
Brian Donohoe547,189536,677532,420↑ +10,512
Anela Jonas531,431446,043—↑ +85,388
Russell Rizzardi479,870437,825457,014↑ +42,045
John Robert Thorson458,059670,412649,860↓ −212,353
Robert Baker443,236433,519433,130↑ +9,717

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

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$802,645 David Payne total, FY2025

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Data as of July 24, 2026 · Source: 0001174947-26-000355 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against WABC
6 companies name WABC as a compensation peer

Each company listed discloses WABC 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 WABC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Anela JonasCFO$531,431
Brian DonohoeExecutive$547,189
David PayneCEO$802,645
John Robert ThorsonSVP$458,059
Robert BakerSVP$443,236
Russell RizzardiSVP$479,870
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Alisa BelewIndependent Director$42,612
Carter WelchIndependent Director—
E. Joseph BowlerFormer director (through FY2025)$33,300
Edward B. SylvesterIndependent Director$56,476
Inez WondehIndependent Director$41,274
Martin CamseyIndependent Director$40,000
Melanie Martella ChiesaIndependent Director$44,751
Michele HassidIndependent Director$46,650
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
Robert BakerSVP/Banking Division Manager2026-04-20D759$54$40,860CommonForm 4 ↗
Inez WondehDirector2026-04-22A61543,281CommonForm 4 ↗
Curtis BeltonSVP/Risk Officer2026-04-24D10,60000Derivative, Class A CommonForm 4 ↗
Robert BakerSVP/Banking Division Manager2026-05-01D10,20000Derivative, Class A CommonForm 4 ↗
Robert BakerSVP/Banking Division Manager2026-07-20D15,00000Derivative, Class A CommonForm 4 ↗
Robert BakerSVP/Banking Division Manager2026-07-20D14,40000Derivative, Class A CommonForm 4 ↗
Brian DonohoeSVP/Chief Information Officer2026-07-20D15,10000Derivative, Class A CommonForm 4 ↗
Brian DonohoeSVP/Chief Information Officer2026-07-20D5,90000Derivative, Class A CommonForm 4 ↗
Curtis BeltonSVP/Risk Officer2026-07-24D9,20000Derivative, Class A CommonForm 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
Brian DonohoeRSU———2,150—$110,897
Russell RizzardiRSU———2,010—103,676
David PayneOPTION———21,900—208,269
Anela JonasRSU———1,600—82,528
David PayneRSU———2,470—127,403
Robert BakerRSU———1,440—74,275
Robert BakerOPTION———14,700—139,797
Russell RizzardiOPTION———17,900—170,229
Brian DonohoeOPTION———19,100—181,641
Anela JonasOPTION———16,500—156,915
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brian Donohoe$110,897$0$181,6410.0%
Russell Rizzardi103,6760170,2290.0%
David Payne127,4030208,2690.0%
Anela Jonas82,5280156,9150.0%
Robert Baker74,2750139,7970.0%

% 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
Russell RizzardiPSU5,990—$286,502
Anela JonasOption16,50051.58—
Robert BakerPSU4,290—205,191
Russell RizzardiOption12,20049.7—
Brian DonohoeOption6,46755.47—
Brian DonohoePSU6,430—307,547
Anela JonasPSU2,400—114,792
Anela JonasOption80055.47—
Anela JonasOption10,93349.7—
Brian DonohoeOption13,26749.7—
Brian DonohoeOption19,10051.58—
Russell RizzardiOption6,03355.47—
Russell RizzardiOption17,90051.58—
Robert BakerOption5,00055.47—
Robert BakerOption10,20049.7—
Robert BakerOption14,70051.58—
05

Incentive-plan design — the Compensation Discussion & Analysis

base salaries for participants in this program should be limited to foster an environment where incentive compensation motivates and rewards corporate, divisional, and individual performance

CEO STI target (% of salary)97%
CEO LTI target (% of salary)—
Independent consultantnot disclosed
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-2318,355,387379,19653,97297.98%Passed
20252025-04-2420,202,938247,41264,55598.79%Passed
20242024-04-2520,609,407279,47977,40798.66%Passed
20232023-04-2720,037,040407,524160,08698.01%Passed
20222022-04-2821,439,449122,973149,54399.43%Passed
20212021-04-2221,134,105123,09562,09799.13%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
20262026-04-2397.98%a
20252025-04-2498.79%b
20242024-04-2598.66%c

a. Approved under the standard stated in the filing — “Therefore, if votes in favor of Proposals 2 or 3 are less than a majority of the required quorum, abstentions and non-votes would have the effect of a vote against the proposal.”.

b. Approved under the standard stated in the filing — “Therefore, if votes in favor are less than a majority of the required quorum, abstentions and non-votes would have the effect of a vote against the proposal.”.

c. Approved under the standard stated in the filing — “Therefore, if votes in favor are less than a majority of the required quorum, abstentions and non-votes would have the effect of a vote against the 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)17.65 : 1
CEO total compensation$802,645
Median employee compensation$45,481
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Edward B. SylvesterIndependent · Executive Committee · Loan and Investment Committee (Chair) · Nominating Committee (Chair) · Compliance Committee (Chair)$51,300$0$0$0—$56,476
Michele HassidIndependent · Executive Committee · Audit Committee (Chair) · Nominating Committee · Compliance Committee46,650000—46,650
Melanie Martella ChiesaIndependent · Employee Benefits and Compensation Committee (Chair) · Loan and Investment Committee · Compliance Committee44,600000—44,751
Alisa BelewIndependent · Employee Benefits and Compensation Committee · Loan and Investment Committee42,400000—42,612
Inez WondehIndependent · Audit Committee · Employee Benefits and Compensation Committee · Loan and Investment Committee41,200000—41,274
Martin CamseyIndependent · Audit Committee · Employee Benefits and Compensation Committee40,000000—40,000
E. Joseph BowlerIndependent · Audit Committee · Loan and Investment Committee · Nominating Committee · Departed during FY33,300000—33,300
Carter WelchIndependent · Executive · Loan and Investment · Partial-year service · Newly elected000000
David L. PayneEmployee director · Board Chair · Executive Committee (Chair) · Compliance Committee000000
09

Board fee structure and ownership guideline

Annual cash retainer$22,000
Annual equity retainer—
Per board meeting fee$1,200
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$299,450
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$299,450

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.

NASDAQ Bank Index
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
1WESTAMERICA BANCORPORATION2025David Payne$371,000$0$0$400,000$802,645

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.

10d

Frequently asked questions

Who was the highest-paid executive at WESTAMERICA BANCORPORATION in fiscal 2025?
As disclosed, David Payne (Chairman, President & CEO) was the highest-paid executive at WESTAMERICA BANCORPORATION in fiscal 2025, with total compensation of $802,645.
What is WESTAMERICA BANCORPORATION's CEO-to-median employee pay ratio?
As disclosed, WESTAMERICA BANCORPORATION's CEO-to-median employee pay ratio was 17.65:1.
How did shareholders vote on WESTAMERICA BANCORPORATION's executive compensation?
As disclosed, 97.98% of shareholders supported WESTAMERICA BANCORPORATION's executive compensation in the latest say-on-pay vote.
How much does WESTAMERICA BANCORPORATION spend in total on board compensation for fiscal 2025?
As disclosed, WESTAMERICA BANCORPORATION reported total board compensation of $299,450 for fiscal 2025.

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, David PayneDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation Table for Fiscal Year 2025”. As printed: 802,645. Filing ↗machine: t148 · r1 · c31 · span 344276–344283
2Section 01, Brian DonohoeDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation” · page 27. As printed: 547,189. Filing ↗machine: t148 · r10 · c31 · span 363129–363136
3Section 01, Anela JonasDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation” · page 27. As printed: 531,431. Filing ↗machine: t148 · r16 · c31 · span 375467–375474
4Section 01, Russell RizzardiDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation” · page 27. As printed: 479,870. Filing ↗machine: t148 · r7 · c31 · span 356782–356789
5Section 01, John Robert ThorsonDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation” · page 27. As printed: 458,059. Filing ↗machine: r4 · c31 · span 350630–350637
6Section 01, Robert BakerDEF 14A2026-03-130001174947-26-000355Section “Summary Compensation” · page 27. As printed: 443,236. Filing ↗machine: t148 · r13 · c31 · span 369295–369302
7Section 03, Brian Donohoe RSUDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r12 · c17 · span 482832–482837
8Section 03, Russell Rizzardi RSUDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r15 · c17 · span 488572–488577
9Section 03, David Payne OPTIONDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗
10Section 03, Anela Jonas RSUDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r9 · c17 · span 477109–477114
11Section 03, David Payne RSUDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗
12Section 03, Robert Baker RSUDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r18 · c17 · span 494295–494300
13Section 03, Robert Baker OPTIONDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r19 · c21 · span 497127–497133
14Section 03, Russell Rizzardi OPTIONDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r16 · c21 · span 490712–490718
15Section 03, Brian Donohoe OPTIONDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r13 · c21 · span 484961–484967
16Section 03, Anela Jonas OPTIONDEF 14A2026-03-130001174947-26-000355Section “Grants of Plan-Based Awards Table for Fiscal Year 2025” · grants of plan-based awards table. Filing ↗machine: t157 · r10 · c21 · span 479248–479254
17Section 07, pay ratioDEF 14A2026-03-130001174947-26-000355Section “CEO Pay Ratio”. As printed: 17.65 : 1. Filing ↗
18Section 08, Edward B. SylvesterDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 56,476. Filing ↗machine: span 177318–177324
19Section 08, Michele HassidDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 46,650. Filing ↗machine: span 176382–176388
20Section 08, Melanie Martella ChiesaDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 44,751. Filing ↗machine: span 176088–176094
21Section 08, Alisa BelewDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 42,612. Filing ↗machine: span 174065–174071
22Section 08, Inez WondehDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 41,274. Filing ↗machine: span 178334–178340
23Section 08, Martin CamseyDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 40,000. Filing ↗machine: span 175150–175156
24Section 08, E. Joseph BowlerDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 33,300. Filing ↗machine: span 174532–174538
25Section 08, Carter WelchDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 0. Filing ↗
26Section 08, David L. PayneDEF 14A2026-03-130001174947-26-000355Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Robert Baker 2026-04-20Form 42026-04-200000311094-26-000044Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Inez Wondeh 2026-04-22Form 42026-04-230000311094-26-000048Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Curtis Belton 2026-04-24Form 42026-04-240000311094-26-000050Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Robert Baker 2026-05-01Form 42026-05-040000311094-26-000052Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Robert Baker 2026-07-20Form 42026-07-200000311094-26-000054Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Robert Baker 2026-07-20Form 42026-07-200000311094-26-000054Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Brian Donohoe 2026-07-20Form 42026-07-200000311094-26-000056Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Brian Donohoe 2026-07-20Form 42026-07-200000311094-26-000056Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Curtis Belton 2026-07-24Form 42026-07-240000311094-26-000058Insider equity transaction reported since the proxy statement. Filing ↗
36Section 06, 2026 voteForm 8-K2026-04-270001171843-26-002737Item 5.07 · say-on-pay result. As reported: 97.98% (votes for as printed: 18,355,387). Filing ↗
37Section 06, 2025 voteForm 8-K2025-04-280001171843-25-002536Item 5.07 · say-on-pay result. As reported: 98.79% (votes for as printed: 20,202,938). Filing ↗
38Section 06, 2024 voteForm 8-K2024-04-290001171843-24-002292Item 5.07 · say-on-pay result. As reported: 98.66% (votes for as printed: 20,609,407). Filing ↗
39Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
40Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
41Section 09b board cost (computed)Computed——Cash 299,450 + equity 0 + all other 0 = 299,450, summed across the director compensation table rows.machine: formula: Σ = 299,450
42WESTAMERICA BANCORPORATION (subject), Section 10b CEO totalDEF 14A2026-03-130001174947-26-000355CEO total compensation as printed in WESTAMERICA BANCORPORATION's own proxy. As printed: 802,645. Filing ↗machine: t148 · r1 · c31 · span 344276–344283

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