Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1027

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 3
Chunk 1027
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 to our named executive officers for all services rendered
in all capacities to us and our subsidiaries for the fiscal year ended December 31, 2024.

      Name and Principal Position  
    Year  
    Salary
($)  
    Bonus ($)(1)  
    Stock Awards ($)(2)  
    Change In 
Control 
Compensation
 ($)(3)  
    All Other Compensation ($)(4)  
    Total ($) 
  
    Ciaran McMullan, 
    2024  
     262,500  
     —  
     2,066,750  
     —  
     7,172  
     2,336,422 
  
    Chief Executive Officer 

    Chris Webster, 
    2024  
     225,225  
     —  
     755,840  
     243,115  
     15,637  
     1,239,817 
  
    President 

    Paul Tees, 
    2024  
     202,703  
     —  
     474,762  
     197,347  
     17,834  
     892,646 
  
    EVP and Chief Credit Officer 

(1)See discussion under “Annual
Bonus Payment” below.

(2)The amounts shown in this column
reflect the aggregate grant date fair value of the restricted stock unit awards computed in accordance with FASB ASC Topic 718. For the
year ended December 31, 2024, the amounts shown are not an indication of actual compensation received but rather the maximum potential
compensation (based on the grant date fair value of the restricted stock awards) if all performance and service requirements are met
over the entire ten-year vesting period. For further information regarding the aggregate grant date fair value of the restricted stock
awards, see Note 14 our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

(3)The amounts indicated were
the change in control compensation earned by Mr. Webster and Mr. Tees in conjunction with the CBOA Merger completed in March 2024. For
more information on the merger, see Note 2 Business Combinations in this Annual Report on Form 10-K.

(4)The amounts set forth in this
column include the following:

    Mr. McM