Company: FGBI
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001408534-25-000019
Chunk: 19

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 19
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 specific company, industry and competitive conditions, is the basis for determining their overall compensation.

The Compensation Committee determined the total compensation for the Chief Executive Officer for 2024. Compensation is paid based on the named executive officers' individual and departmental performance, as well as our overall performance. In assessing our performance for compensation purposes, numerous factors were considered, including earnings during the past year relative to budget plans, asset growth, business plans for our future direction, and our safety and soundness. Compensation paid by other financial institutions in our geographic market area, with similar asset size, is also considered by the compensation committee. An assessment of each individual executive's performance is based on the executive's responsibilities and a determination of the named executive officer's contribution to our performance and the accomplishment of our strategic goals.

#### Outstanding Equity Awards
As of December 31, 2024, no named executive officer of First Guaranty held any outstanding stock options or unvested shares of stock, units or other rights under any equity incentive plan.

Employment, Severance or Change in Control Arrangements

First Guaranty does not have any employment, severance or change-in-control agreements with its named executive officers.

Potential Payments upon Termination or Change-in-Control

As discussed above, neither of our named executive officers is a party to any employment, severance or change-in-control agreements, and neither holds any outstanding stock options or unvested shares of stock, units or other rights. Accordingly, neither of our named executive officers would have been entitled to receive any payments as a result of termination or change-in-control as of December 31, 2024 other than death benefits payable to their respective estates pursuant to life insurance policies.

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#### Base Salary
Base salary is paid in order to provide each named executive officer with sufficient, regularly-paid income that is commensurate with his knowledge, skills and abilities necessary to execute his job duties and responsibilities. The base salaries for Messrs. Lewis, Mineer, and Dosch for 2024 were based on the above factors, including our current financial performance as measured by earnings, asset growth, and overall financial soundness, along with an annual review evaluation that all bank employees undergo. Additional considerations were their leadership in setting high standards for financial performance, motivating management and continued involvement in community affairs. In addition, in December of 2023, the Compensation Committee approved a base salary of $490,001 for Mr. Lewis. In May of 2024, the