Company: USCB
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000927089-25-000082
Chunk: 33

Company: USCB FINANCIAL HOLDINGS, INC.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 33
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 $340,000 in connection with the amended and restated employment agreement he entered into in January 2023 and further increased to $357,000 in February 2024. Mr. Bustle’s base salary was increased in March 2023 from $310,000 to $322,400 and was further increased in February 2024 to $338,520. The increases in 2024 for Messrs. Anderson and Bustle reflected 5% increases in their base salaries. In February 2025, Messrs. Anderson’s and Bustle’s salaries were increased by 5% to $374,850 and $355,446, respectively.

Cash Bonuses. Our named executive officers are also eligible to receive an annual cash bonus based on our achievement of various metrics, including earnings, return on assets and our level of classified assets. Annual bonuses are intended to recognize and reward those named executive officers who contribute meaningfully to our performance for the year. These bonuses are subject to the discretion of the compensation committee each year as to whether and in what amounts they will be paid.

Restricted Stock Awards and Stock Option Grants.Grants of restricted stock awards in 2024 were awarded to our named executive officers for recognition of their overall contributions to U.S. Century Bank’s performance and their tenure. In addition, grants of restricted stock awards are intended to align our management team’s interests with the goals of our shareholders. Upon recommendation of the President and Chief Executive Officer, the Compensation Committee approved and recommended for Board ratification restricted stock awards in 2024 covering a total of 137,136 shares for Mr. Aguilera, a total of 29,127 shares for Mr. Anderson, and a total of 23,261 shares for Mr. Bustle, generally vesting pro rata over three years on the anniversary date of the date of grant. No option grants were made in 2024 or in 2023 and have not been made since 2021.

U.S. Century Bank 401(k) Plan.Our 401(k) Plan is designed to provide retirement benefits to all eligible full-time and part-time employees. The 401(k) Plan provides employees the opportunity to save for retirement on a tax-favored basis. Our named executive officers, all of whom were eligible to participate in the 401(k) Plan during the current year, 2024 and 2023, may elect to participate in the 401(k) Plan on the same basis as all other employees. We have elected to match 100