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First Capital Executive Compensation (FY25)

FCAP · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Michael Frederick
Latest say-on-pay support
=
May 18, 2026
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Data as of October 28, 2026Latest filing (8-K): May 22, 2026
15 filings cited on this page
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164 figures on this page: 153 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
This company is not required to report a chief executive pay ratio.
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 — Michael Frederick: $363,748 → $393,421 (8.2% higher)
Say-on-pay support: 89.9% → 92.4% (2.5 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is First Capital's chief executive and what were they paid?
Michael Frederick was paid $393,421 in total compensation as President, Chief Executive Officer for fiscal 2025. Frederick's total was 8.2% higher than the $363,748 reported for fiscal 2024.
What was First Capital's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 92.4% of votes cast for or against in favor at the meeting held May 18, 2026.

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
William Harrod
President, Chief Executive Officer
◇———◇—◇◇
Michael Frederick
Executive Vice President (4)
◇———◇—◇◇
Joseph Mahuron
Chief Credit Officer
◇———◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Frederick
President, Chief Executive Officer
◇—◇—◇—◇◇
William Harrod
Chief Executive Officer
◇—◇—◇—◇◇
Joshua Stevens
Chief Financial Officer
◇—◇—◇—◇◇
Joseph Mahuron
Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Frederick
President, Chief Executive Officer
◇—◇—◇—◇◇
Joshua Stevens
Chief Financial Officer
◇—◇—◇—◇◇
Joseph Mahuron
Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Michael Frederick
President, Chief Executive Officer
◇—◇—◇—◇◇
Joshua Stevens
Chief Financial Officer
◇—◇—◇—◇◇
Joseph Mahuron
Chief Credit Officer
◇—◇—◇—◇◇
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.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Joshua StevensRSU◇◇——
Joseph MahuronRSU◇◇——
Michael FrederickRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Mark D. Shireman
◇◇——◇◇◇
William I. Orwick Sr
◇◇———◇◇
Lou Ann Moore
◇◇———◇◇
Pamela G. Kraft
◇◇———◇◇
Christopher L. Byrd
◇◇———◇◇
Dana L. Huber
◇◇———◇◇
William W. Harrod
◇◇———◇◇
Kathryn W. Ernstberger
◇◇———◇◇
Carolyn E. Wallace
◇◇———◇◇
Jill S. Saegesser
◇◇———◇◇
John M. Shireman
◇◇———◇◇
Robert C. Guilfoyle
◇◇———◇◇
Michael C. Frederick 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◇
Equity is delivered as Restricted Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 18, 2026=◇◇◇
2024May 21, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 24, 2023=◇◇◇
2021May 25, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 27, 2020=◇◇◇
2018May 22, 2019=◇◇◇
2017May 23, 2018=◇◇◇
2016May 24, 2017=◇◇◇
2015May 18, 2016=◇◇◇

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Sample answer — “What is the CEO’s total compensation?”
- Michael Frederick (President, Chief Executive Officer), FY2025 total compensation $393,421 (base salary $293,810) [exec_comp, SEC accession 0001104659-26-040934, filed 2026-04-08]

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What this page does not include

Everything above is a fact First Capital disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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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.
164 figures on this page: 153 cited to the filing that reported them, 11 calculated from figures it prints.
153 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-065684
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-040934
  3. 0001104659-25-053555
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-033880
  5. 0001104659-24-066139
    Item 5.07 Submission of Matters to a Vote of Security Holders.
  6. 0001104659-24-046310
  7. 0001104659-23-065674
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-044571
  9. 0001104659-22-066825
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001104659-21-075757
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  11. 0001104659-20-067043
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  12. 0001104659-19-031482
    3. Approval of a non-binding advisory proposal on Executive Compensation.
  13. 0001104659-18-035753
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  14. 0001104659-17-035253
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  15. 0001104659-16-122112
    Item 5.07. Submission of Matters to a Vote of Security Holders.
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “First Capital executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FCAP (accessed 2026).
Short form: data: Velarion

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15 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

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

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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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