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Carter Bankshares Executive Compensation (FY25)

CARE · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Litz Van Dyke
Latest say-on-pay support
=
May 27, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 19, 2026Latest filing (EX-10): June 24, 2026
8 filings cited on this page
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282 figures on this page: 278 cited to the filing that reported them, 4 calculated from figures it prints. See the citations

More on Carter Bankshares

Five data products on this company. Each one is requested through the developer setup page.
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 — Litz Van Dyke: $1,307,912 → $1,355,859 (3.7% higher)
Say-on-pay support: 92.6% → 94.4% (1.8 points higher)
CEO pay ratio: 22:1 → 23:1 (4.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Carter Bankshares' chief executive and what were they paid?
Litz Van Dyke was paid $1,355,859 in total compensation as CEO of the Company and the Bank for fiscal 2025. Van Dyke's total moved 3.7% higher from the $1,307,912 reported for fiscal 2024.
What was Carter Bankshares' say-on-pay result?
The say-on-pay proposal drew 94.4% of votes cast for or against in favor at the meeting held May 27, 2026 for fiscal 2025.
Which companies are in Carter Bankshares' peer group?
The disclosed peer group names Arrow Financial Corporation, Bar Harbor Bankshares, Burke & Herbert Financial Services Corp., C&F Financial Corporation and Capital City Bank Group, Inc., among others.
What is Carter Bankshares' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 23:1, against median employee compensation of $59,153.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Litz Van Dyke
CEO of the Company and the Bank
◇—◇—◇—◇◇
Bradford Langs
President and Chief Strategy Officer of the Bank
◇—◇—◇—◇◇
Wendy Bell
CFO of the Company; Senior Executive Vice President and CFO of the Bank
◇—◇—◇—◇◇
Matthew Speare
Senior Executive Vice President and Chief Operations Officer of the Bank
◇—◇—◇—◇◇
Tony Kallsen
Senior Executive Vice President and Chief Credit Officer of the Bank
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Litz Van Dyke
CEO of the Company and the Bank
◇◇————◇◇
Bradford Langs
President and Chief Strategy Officer of the Bank
◇◇——◇——◇
Wendy Bell
CFO of the Company; Senior Executive Vice President and CFO of the Bank
◇◇————◇◇
Matthew Speare
Senior Executive Vice President and Chief Operations Officer of the Bank
◇◇————◇◇
Tony Kallsen
Senior Executive Vice President and Chief Credit Officer of the Bank
◇◇————◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Litz Van Dyke
CEO of the Company and the Bank
◇◇◇—◇—◇◇
Bradford Langs
President and Chief Strategy Officer of the Bank
◇◇◇—◇—◇◇
Wendy Bell
CFO of the Company; Senior Executive Vice President and CFO of the Bank
◇◇◇—◇—◇◇
Matthew Speare
Senior Executive Vice President and Chief Operations Officer of the Bank
◇◇◇—◇—◇◇
Tony Kallsen
Senior Executive Vice President and Chief Credit Officer of the Bank
◇◇◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Litz Van Dyke
CEO of the Company and the Bank
◇◇◇—◇—◇◇
Bradford Langs
President and Chief Strategy Officer of the Bank
◇◇◇—◇—◇◇
Wendy Bell
CFO of the Company; Senior Executive Vice President and CFO of the Bank
◇◇◇—◇—◇◇
Matthew Speare
Senior Executive Vice President and Chief Operations Officer of the Bank
◇◇◇—◇—◇◇
Tony Kallsen
Senior Executive Vice President and Chief Credit Officer of the Bank
◇◇◇—◇—◇◇
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 N. LangsRSU◇——◇——◇
Bradford N. LangsPSU◇—◇—◇—◇
Litz H. Van DykePSU◇—◇—◇—◇
Litz H. Van DykeRSU◇——◇——◇
Matthew M. SpeareRSU◇——◇——◇
Matthew M. SpearePSU◇—◇—◇—◇
Tony E. KallsenRSU◇——◇——◇
Tony E. KallsenPSU◇—◇—◇—◇
Wendy S. BellRSU◇——◇——◇
Wendy S. BellPSU◇—◇—◇—◇
Fiscal 2022 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
Matthew SpeareRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Bradford LangsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Tony KallsenRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Wendy BellRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
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 Langs
President and Chief Strategy Officer of the Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Litz Van Dyke
CEO of the Company and the Bank · Employment agreement
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-compete period◇
Non-solicit period◇
Matthew Speare
Senior Executive Vice President and Chief Operations Officer of the Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Wendy Bell
CFO of the Company; Senior Executive Vice President and CFO of the Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
James W. Haskins
Board chair
◇◇————◇
Gregory W. Feldmann
Lead independent director
◇◇————◇
Michael R. Bird
◇◇————◇
Catharine L. Midkiff
◇◇————◇
Jacob A. Lutz, III
◇◇————◇
Robert M. Bolton
◇◇————◇
Kevin S. Bloomfield
◇◇————◇
Phyllis Q. Karavatakis
◇◇————◇
Curtis E. Stephens
◇◇————◇
Elizabeth L. Walsh
◇◇————◇
E. Warren Matthews
◇◇————◇
Litz H. Van Dyke 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◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Arrow Financial Corporation AROW
  • Bar Harbor Bankshares BHB
  • Burke & Herbert Financial Services Corp. BHRB
  • C&F Financial Corporation CFFI
  • Capital City Bank Group, Inc. CCBG
  • City Holding Company CHCO
  • CNB Financial Corporation CCNE
  • Community Trust Bancorp, Inc. CTBI
  • First Community Bankshares, Inc. FCBC
  • First Financial Corporation THFF
  • Great Southern Bancorp, Inc. GSBC
  • HomeTrust Bancshares, Inc. HTB
  • Mid Penn Bancorp, Inc. MPB
  • MVB Financial Corp. MVBF
  • Orrstown Financial Services, Inc. ORRF
  • Peoples Bancorp Inc. PEBO
  • Peoples Financial Services Corp. PFIS
  • Primis Financial Corp. FRST
  • Republic Bancorp, Inc. RBCAA
  • Shore Bancshares, Inc. SHBI
  • SmartFinancial, Inc. SMBK
  • Stock Yards Bancorp, Inc. SYBT
  • Univest Financial Corporation UVSP
  • Washington Trust Bancorp, Inc. WASH

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 27, 2026=◇◇◇
2024May 28, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 24, 2023=◇◇◇

Chief executive pay ratio

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

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Sample answer — “What is the CEO’s total compensation?”
- Litz Van Dyke (CEO of the Company and the Bank), FY2025 total compensation $1,355,859 (base salary $703,114) [exec_comp, SEC accession 0001829576-26-000027, filed 2026-04-15]

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What this page does not include

Everything above is a fact Carter Bankshares disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Carter Bankshares 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.
Executive Compensation Report — $1,500
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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.
Executive Compensation Report — $1,500
Board and governance analysis
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.
282 figures on this page: 278 cited to the filing that reported them, 4 calculated from figures it prints.
278 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001829576-26-000061
    Exhibit
  2. 0001829576-26-000053
  3. 0001829576-26-000027
    CEO Pay Ratio · DIRECTOR COMPENSATION · Non-Employee Director Cash Retainer Fees · Outstanding Equity Awards at Fiscal 2025 Year-End · and 1 more section
  4. 0001829576-25-000048
  5. 0001829576-25-000030
    Compensation Discussion and Analysis · Summary Compensation Table
  6. 0001829576-24-000039
  7. 0001829576-24-000024
    Summary Compensation Table
  8. 0001829576-23-000037
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Carter Bankshares executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/CARE (accessed 2026).
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The paid brief for Carter Bankshares

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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8 filings cited on this page
Method: intel.velarion.ai/methodology
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Banking rankings

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

Peers Carter Bankshares discloses

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

Arrow Financial CorporationBar Harbor BanksharesBurke & Herbert Financial Services Corp.C&F Financial CorporationCapital City Bank Group, Inc.City Holding CompanyCNB Financial CorporationCommunity Trust Bancorp, Inc.First Community Bankshares, Inc.First Financial CorporationGreat Southern Bancorp, Inc.HomeTrust Bancshares, Inc.Mid Penn Bancorp, Inc.MVB Financial Corp.Orrstown Financial Services, Inc.Peoples Bancorp Inc.Peoples Financial Services Corp.Primis Financial Corp.Republic Bancorp, Inc.Shore Bancshares, Inc.SmartFinancial, Inc.Stock Yards Bancorp, Inc.Univest 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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