Companies William Penn Bancorporation
William Penn Bancorporation (WMPN): executive pay, fiscal 2024
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CEO pay, last three years
- $811,584FY2023
- $626,538FY2024
CEO total pay was $626,538 in fiscal 2024, down from $811,584 in fiscal 2023.
FY2024: salary $574,462 · bonus $1,250 · stock awards $0 · option awards $0
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Kenneth Stephon | $574,462 | $1,250 | $0 | $0 | $0 | $0 | $50,826 | $626,538 |
| President and Chief Executive Officer | ||||||||
| Alan Turner | 292,036 | 1,250 | 0 | 0 | 0 | 0 | 49,044 | 342,330 |
| Executive Vice President and Chief Lending Officer | ||||||||
| Jeannine Cimino | 278,625 | 1,250 | 0 | 0 | 0 | 0 | 35,990 | 315,865 |
| Executive Vice President and Chief Retail 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 officer | FY2024 total | FY2023 total | FY2022 total | Δ FY2023→2024 |
|---|---|---|---|---|
| Kenneth Stephon | $626,538 | $811,584 | — | ↓ −185,046 |
| Alan Turner | 342,330 | 393,150 | — | ↓ −50,820 |
| Jeannine Cimino | 315,865 | 378,996 | — | ↓ −63,131 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Compensation Committee ensures that a significant portion of compensation is connected to and aligned with the long-term interest of shareholders, considering financial performance, shareholder return, and competitive market values. The Annual Incentive Plan is designed to align the interests of the named executive officers with the overall performance of the Company and the Bank.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2024
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Alan Turner | RSU | 15,168 | — | $172,915 |
| Jeannine Cimino | RSU | 30,336 | — | 345,830 |
| Alan Turner | Option | 37,920 | 11.61 | — |
| Kenneth Stephon | RSU | 75,840 | — | 864,576 |
| Jeannine Cimino | Option | 75,840 | 11.61 | — |
| Kenneth Stephon | Option | 189,600 | 11.61 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| William J. FeeneyIndependent · Lead Independent Director · Compensation Committee · Nominating and Governance Committee · Not standing for re-election | $54,900 | $47,172 | $31,663 | — | — | $133,735 |
| William B.K. Parry JrIndependent · Not standing for re-election · Departed during FY | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| D. Michael Carmody JrIndependent · Audit · Not standing for re-election | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| Glenn DavisIndependent · Compensation Committee (Chair) · Nominating and Governance Committee · Not standing for re-election | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| Vincent P. SarubbiIndependent · Audit Committee | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| Christopher M. MoldenIndependent · Audit Committee · Compensation Committee | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| Terry L. SagerNot independent · Risk Committee (Chair) · Not standing for re-election | 49,500 | 47,172 | 31,663 | — | — | 128,335 |
| Craig BurtonIndependent · Not standing for re-election · Departed during FY | 16,500 | 0 | 0 | — | — | 16,500 |
| William C. NiemczuraIndependent · Not standing for re-election · Departed during FY | 16,500 | 0 | 0 | — | — | 16,500 |
Board fee structure and ownership guideline
| Annual cash retainer | $33,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2024 |
|---|---|
| Cash retainers and fees | $384,900 |
| Equity awards (grant-date value) | $330,204 |
| All other compensation | $0 |
| Total cost of the board | $715,104 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names William Penn Bancorporation as a peer
Companies that benchmark against WMPN
1 company names WMPN as a compensation peer
- Provident Bancorp, Inc.PVBCFY2024
Each company listed discloses WMPN 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 WMPN in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | William Penn Bancorporation | 2024 | Kenneth Stephon | $574,462 | $0 | $0 | $0 | $626,538 |
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.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (15 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Kenneth Stephon. DEF 14A, filed 2024-10-11. Section “Executive Compensation” · page 18. As printed: 626,538. View filing ↗
- Section 01, Alan Turner. DEF 14A, filed 2024-10-11. Section “Executive Compensation” · page 18. As printed: 342,330. View filing ↗
- Section 01, Jeannine Cimino. DEF 14A, filed 2024-10-11. Section “Executive Compensation” · page 18. As printed: 315,865. View filing ↗
- Section 08, William J. Feeney. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 133,735. View filing ↗
- Section 08, William B.K. Parry Jr. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, D. Michael Carmody Jr. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, Glenn Davis. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, Vincent P. Sarubbi. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, Christopher M. Molden. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, Terry L. Sager. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 128,335. View filing ↗
- Section 08, Craig Burton. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 16,500. View filing ↗
- Section 08, William C. Niemczura. DEF 14A, filed 2024-10-11. Section “Director Compensation”. As printed: 16,500. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 384,900 + equity 330,204 + all other 0 = 715,104, summed across the director compensation table rows.
- William Penn Bancorporation (subject), Section 10b CEO total. DEF 14A, filed 2024-10-11. CEO total compensation as printed in William Penn Bancorporation's own proxy. As printed: 626,538. View filing ↗