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Burke & Herbert Financial Services Executive Compensation (FY25)

BHRB · Executive and director compensation, fiscal 2023 to 2025
Chief executive, fiscal 2025
◇
David Boyle
Latest say-on-pay support
=
June 18, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): June 18, 2026
4 filings cited on this page
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Burke & Herbert Financial Services brief$1,500Get the executive brief
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183 figures on this page: 182 cited to the filing that reported them, 1 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — David Boyle: $2,868,146 → $3,014,541 (5.1% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Burke & Herbert Financial Services' chief executive and what were they paid?
David Boyle was paid $3,014,541 in total compensation as Chair and Chief Executive Officer for fiscal 2025. Boyle's total was 5.1% higher than the $2,868,146 reported for fiscal 2024.
What was Burke & Herbert Financial Services' say-on-pay result?
Shareholders supported the say-on-pay proposal with 97.6% of votes cast for or against in favor at the meeting held June 18, 2026 for fiscal 2025.
Which companies are in Burke & Herbert Financial Services' peer group?
Companies named in the disclosed peer group include CNB Financial Corporation, ConnectOne Bancorp, Inc., Eagle Bancorp, Inc., First Commonwealth Financial Corporation and Flushing Financial Corporation, among others.
What is Burke & Herbert Financial Services' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 52.7:1, against median employee compensation of $57,185.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Boyle
President & Chief Executive Officer
◇—◇——◇◇◇
Roy Halyama
Executive Vice President -- Chief Financial Officer
◇—◇———◇◇
Jeffrey Welch
Executive Vice President -- Chief Credit Officer
◇—◇——◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
H. Charles Maddy III
President
◇◇◇—◇◇◇◇
David Boyle
Chair & Chief Executive Officer
◇—◇—◇◇◇◇
Roy Halyama
Executive Vice President — Chief Financial Officer
◇—◇—◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Boyle
Chair and Chief Executive Officer
◇—◇—◇◇◇◇
H. Charles Maddy, III
Director and President
◇—◇—◇◇◇◇
Roy Halyama
Executive Vice President, Chief Financial Officer
◇—◇—◇◇◇◇
Bradford Ritchie
Executive Vice President, Chief Lending Officer
◇—◇—◇◇◇◇
Robert Tissue
Executive Vice President, Head of Balance Sheet Strategy
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Bradford E. RitchiePSU◇◇◇—◇—◇
David P. BoylePSU◇◇◇—◇—◇
H. Charles Maddy, IIIPSU◇◇◇—◇—◇
Robert S. TissuePSU◇◇◇—◇—◇
Roy E. HalyamaPSU◇◇◇—◇—◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Roy HalyamaRSU◇◇——
RSU◇◇——
RSU◇◇——
David BoyleRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
H. Charles Maddy, IIIRSU◇◇——
Robert TissueRSU◇◇——
Bradford RitchieRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Bradford Ritchie
Executive Vice President, Chief Lending Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
H. Charles Maddy, III
Director and President · Employment agreement · citing a 2024 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Clawback◇
Robert Tissue
Executive Vice President, Head of Balance Sheet Strategy · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Roy Halyama
Executive Vice President, Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Shawn P. McLaughlin
◇◇————◇
Oscar M. Bean
◇◇————◇
Katherine D. Bonnafé
◇◇————◇
Jose D. Riojas
◇◇————◇
S. Laing Hinson
◇◇————◇
Julian F. Barnwell, Jr
◇◇————◇
James P. Geary, II
◇◇————◇
Georgette R. George
◇◇————◇
Mark G. Anderson
◇◇————◇
Gary L. Hinkle
◇◇————◇
Charles S. Piccirillo
◇◇————◇
Jill S. Upson
◇◇————◇
James M. Burke
◇◇————◇
Jason A. Kitzmiller
◇—————◇
Diane Poillon, David H. Wilson, Sr, Kristen Snyder, H. Charles Maddy, III and David P. Boyle served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Board meeting fee◇
Committee meeting fee◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • CNB Financial Corporation CCNE
  • ConnectOne Bancorp, Inc. CNOB
  • Eagle Bancorp, Inc. EGBN
  • First Commonwealth Financial Corporation FCF
  • Flushing Financial Corporation FFIC
  • Metropolitan Bank Holding Corp. MCB
  • NBT Bancorp Inc. NBTB
  • Orrstown Financial Services, Inc. ORRF
  • Park National Corporation PRK
  • Peapack-Gladstone Financial Corporation PGC
  • Peoples Bancorp, Inc. PEBO
  • S&T Bancorp, Inc. STBA
  • Stock Yards Bancorp, Inc. SYBT
  • Tompkins Financial Corporation TMP
  • Univest Financial Corporation UVSP
  • Washington Trust Bancorp, Inc. WASH

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 18, 2026=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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- David Boyle (Chair and Chief Executive Officer), FY2025 total compensation $3,014,541 (base salary $868,846) [exec_comp, SEC accession 0001964333-26-000052, filed 2026-04-30]

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What this page does not include

Everything above is a fact Burke & Herbert Financial Services disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Burke & Herbert Financial Services sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
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Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
183 figures on this page: 182 cited to the filing that reported them, 1 calculated from figures it prints.
182 cited to the filing
1 calculated from the filing

Documents cited

  1. 0001964333-26-000072
    Proposal 3: Non-Binding, Advisory Vote on Executive Compensation.
  2. 0001964333-26-000052
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · Grants of Plan-Based Awards
  3. 0001964333-24-000259
  4. 0001964333-24-000129
    EX-10.8
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Burke & Herbert Financial Services executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/BHRB (accessed 2026).
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The Burke & Herbert Financial Services brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
4 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Burke & Herbert Financial Services discloses

The companies named in BHRB's own disclosed peer group.

CNB Financial CorporationConnectOne Bancorp, Inc.Eagle Bancorp, Inc.First Commonwealth Financial CorporationFlushing Financial CorporationMetropolitan Bank Holding Corp.NBT Bancorp Inc.Orrstown Financial Services, Inc.Park National CorporationPeapack-Gladstone Financial CorporationPeoples Bancorp, Inc.S&T Bancorp, Inc.Stock Yards Bancorp, Inc.Tompkins Financial CorporationUnivest Financial CorporationWashington Trust Bancorp, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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