Company: FGBI
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001408534-25-000019
Chunk: 20

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 20
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 Compensation Committee approved a base salary of $362,500 for Mr. Mineer. In December of 2023, the Chief Executive Officer approved a base salary of $186,000 for Mr. Dosch.

#### Cash Bonuses
Bonuses are discretionary and are generally awarded to the named executive officers based on the extent to which we achieve annual performance objectives established by the Compensation Committee, Board and or the Bank Board. Bonuses are determined following a year-end assessment of our financial performance. The performance criteria used to determine the bonuses are not established until the end of the year and are not necessarily communicated to the officers. Company performance objectives may include net income, return on average assets ("ROAA") and return on average equity ("ROAE") goals. ROAA measures management's overall effectiveness at managing and investing First Guaranty's assets. ROAE measures the net after-tax return provided to First Guaranty's shareholders. Based on the foregoing, Messrs. Lewis, Mineer, and Dosch earned a cash bonus of $0, $0, and $5,000, respectively, for the year ended December 31, 2024.

In addition, Messrs. Lewis, Mineer, and Dosch received a holiday bonus of $0, $7,680, and $3,571, respectively, which represents one week of base pay. This holiday bonus was payable to all employees of First Guaranty Bank and approved by the Bank Board of Directors.

#### Stock Bonuses
During the year ended December 31, 2024, Messrs. Lewis and Dosch received 111,126 and 55,557 in the form of stock bonuses.

#### Benefit Plans
Equity Bonus Plan. We have adopted the First Guaranty Bank Equity Bonus Plan (the “Bonus Plan”), which was approved by shareholders at the 2022 annual meeting. Under the Bonus Plan, First Guaranty has established an equity bonus pool of 80,000 shares of First Guaranty common stock, which shares are authorized but not outstanding. For each quarter, the board of directors is authorized, but not required, to issue stock awards to full-time First Guaranty Bank employees on a discretionary basis. Employees granted awards will receive them within 75 days of the end of the quarter for which they are awarded, and such awards shall be 100% vested upon receipt. The board has broad discretion to alter certain terms of individual awards under the Bonus Plan. The Bonus Plan automatically terminated on May 19,