Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 403

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1A
Chunk 403
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 2024, were:

·Ciaran
                                            McMullan, Chief Executive Officer of Bancorp 34 and the Bank;

·Chris
                                            Webster, President of the Bank; and 

·Paul
                                            Tees, Executive Vice President and Chief Credit Officer of the Bank.

127

Summary
Compensation Table 

The following table
sets forth information concerning all compensation awarded to, earned by or paid 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.