Company: CFBK
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060182
Chunk: 50

Company: CF BANKSHARES INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 50
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”based on your preference as to the frequency with which an advisory vote on executive compensation should be held. If you have no preference, you may “ABSTAIN”.

After careful consideration, the Board of Directors has determined that holding an advisory vote on the compensation of the Company’s named executive officers every one year continues to be the most appropriate for the Company, and unanimously recommends that you vote for a frequency of every "1 YEAR" for future advisory votes on the compensation of the Company’s named executive officers. While the Company’s executive compensation programs are designed to promote both short-term and long-term alignment between pay and performance, the Company’s Board of Directors recognizes that executive compensation disclosures are made annually. Holding an annual advisory vote on the compensation of the Company’s named executive officers provides the Company with more direct and immediate feedback on the Company’s compensation disclosures. However, stockholders should note that because the advisory vote on the compensation of the Company’s named executive officers occurs well after the beginning of the compensation year, and because the different elements of the Company’s executive compensation programs are designed to operate in an integrated manner and to complement one another, in many cases, it may not be feasible or appropriate to change the Company’s executive compensation programs in consideration of any one year’s advisory vote on the compensation of the Company’s executive compensation program by the time of the following year’s annual meeting of stockholders.

The Board of Directors understands that the Company’s stockholders may have different views as to what is appropriate frequency for advisory votes on the compensation of the Company’s named executive officers, and the Board of Directors and Compensation Committee will carefully review the voting result on this Proposal 3. However, because your vote is advisory, it will not: (i) be binding upon the Company’s Board of Directors or the Compensation Committee with respect to the frequency of future advisory votes on the compensation of the Company’s named executive officers; (ii) overrule any decision made by the Company’s Board of Directors of the Compensation Committee; or (iii) create or imply any additional fiduciary duty by the Company’s Board of Directors or the Compensation Committee. Notwithstanding the outcome of the stockholder advisory vote, the Company’s Board of Directors may in the future decide to conduct advisory votes on a more or less frequent bases and may vary its practice based on factors such as discussions with stockholders and the adoption of material changes to compensation programs.

<div align='center'>Recommendation and Vote</div>

Under the Company’s Bylaws, the affirmative vote of a majority of the