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First Community Bankshares Executive Compensation (FY25)

FCBC · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): April 29, 2026
219 figures on this page: 211 cited to the filing that reported them, 8 calculated from figures it prints. See the citations
William Stafford, Chief Executive Officer, received $1,122,497 in total compensation for fiscal 2025, and Stafford's total was 31.2% higher than the $855,786 reported for fiscal 2024. The say-on-pay proposal drew 96.9% of votes cast including abstentions in favor at the meeting held April 28, 2026 for fiscal 2025. The disclosed peer group names ACNB Corp., C&F Financial Corp., Carter Bankshares, Citizens & Northern Corp. and Citizens Financial Services, among others. For fiscal 2025, the company reported 5 named executive officers.
Chief executive, fiscal 2025
◇
William Stafford
Latest say-on-pay support
=
April 28, 2026
Chief executive pay ratio
◇
To the median employee
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 — William Stafford: $855,786 → $1,122,497 (31.2% higher)
Say-on-pay support: 97.1% → 96.9% (0.2 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is First Community Bankshares' chief executive and what were they paid?
William Stafford, Chief Executive Officer, received $1,122,497 in total compensation for fiscal 2025. Stafford's total was 31.2% higher than the $855,786 reported for fiscal 2024.
What was First Community Bankshares' say-on-pay result?
The say-on-pay proposal drew 96.9% of votes cast including abstentions in favor at the meeting held April 28, 2026 for fiscal 2025.
Which companies are in First Community Bankshares' peer group?
The disclosed peer group names ACNB Corp., C&F Financial Corp., Carter Bankshares, Citizens & Northern Corp. and Citizens Financial Services, among others.
What is First Community Bankshares' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 22:1, against median employee compensation of $51,062.

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
Gary Mills
President
◇—◇—◇◇◇◇
William Stafford
Chief Executive Officer
◇—◇—◇◇◇◇
David Brown
Chief Financial Officer
◇—◇—◇◇◇◇
Jason Belcher
Chief Operating Officer
◇—◇—◇◇◇◇
Sarah Harmon
Chief Administrative Officer, General Counsel, and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gary Mills
President
◇—◇—◇—◇◇
William Stafford
Chief Executive Officer
◇—◇—◇—◇◇
David Brown
Chief Financial Officer
◇—◇—◇—◇◇
Jason Belcher
Chief Operating Officer
◇—◇—◇—◇◇
Sarah Harmon
Chief Administrative Officer, General Counsel, and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gary Mills
President
◇—◇—◇◇◇◇
William Stafford
Chief Executive Officer
◇—◇—◇◇◇◇
David Brown
Chief Financial Officer
◇—◇—◇◇◇◇
Jason Belcher
Chief Operating Officer
◇—◇—◇◇◇◇
Sarah Harmon
Chief Administrative Officer, General Counsel, and Corporate Secretary
◇—◇—◇—◇◇
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
David D. BrownRSU◇——◇——◇
David D. BrownRSU◇——◇——◇
Gary R. MillsRSU◇——◇——◇
Gary R. MillsRSU◇——◇——◇
Jason R. BelcherRSU◇——◇——◇
Jason R. BelcherRSU◇——◇——◇
Sarah W. HarmonRSU◇——◇——◇
Sarah W. HarmonRSU◇——◇——◇
William P. Stafford IIRSU◇——◇——◇
William P. Stafford IIRSU◇——◇——◇
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
Gary MillsPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
William StaffordRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Sarah HarmonPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
David BrownRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Jason BelcherPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
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
Samuel L. Elmore
Lead independent director
◇◇——◇—◇
Richard S. Johnson
◇◇——◇—◇
M. Adam Sarver
◇◇————◇
C. William Davis
◇◇——◇—◇
Harriet B. Price
◇◇————◇
Beth A. Taylor
◇◇————◇
Gary R. Mills and William P. Stafford, II 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.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ACNB Corp. ACNB
  • C&F Financial Corp. CFFI
  • Carter Bankshares CARE
  • Citizens & Northern Corp. CZNC
  • Citizens Financial Services CZFS
  • City Holding Co. CHCO
  • Civista Bancshares Inc. CIVB
  • CNB Financial Corp. CCNE
  • Colony Bankcorp Inc. CBAN
  • Community Trust Bancorp Inc. CTBI
  • Farmers & Merchants Bancorp FMAO
  • Farmers National Banc Corp. FMNB
  • First Financial Corp. BAFN
  • German American Bancorp Inc. GABC
  • HomeTrust Bancshares Inc. HTB
  • Horizon Bancorp Inc. HBNC
  • Lakeland Financial Corp. LKFN
  • Mid Penn Bancorp Inc. MPB
  • MVB Financial Corp MVBF
  • Orrstown Financial Services ORRF
  • Peoples Financial Services PFIS
  • Shore Bancshares Inc. SHBI
  • SmartFinancial Inc. SMBK
  • Southern First Bancshares Inc SFST

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 28, 2026=◇◇◇
2024April 22, 2025=◇◇◇
2023April 23, 2024=◇◇◇
2022May 23, 2023=◇◇◇
2021April 26, 2022=◇◇◇
2020April 27, 2021=◇◇◇
2019April 28, 2020=◇◇◇
2016April 25, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact First Community Bankshares disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where First Community 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
Written compensation analysis
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.
Board Governance Report — $1,200
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.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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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.
219 figures on this page: 211 cited to the filing that reported them, 8 calculated from figures it prints.
211 cited to the filing
8 calculated from the filing

Documents cited

  1. 0001437749-26-013858
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001437749-26-007698
    2025 Summary Compensation Table · Director Compensation Table · Grants of Plan-Based Awards · Outstanding Equity Awards at December 31, 2025 · and 1 more section
  3. 0001437749-25-012960
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001437749-25-006859
    2024 Summary Compensation Table
  5. 0001437749-24-013646
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001437749-24-007286
    2023 Summary Compensation Table
  7. 0001437749-23-015794
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001437749-22-010456
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001437749-21-010636
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001437749-20-008869
  11. 0001437749-17-007184
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This page is free to cite. Attribution we ask for:
Velarion, “First Community Bankshares executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/FCBC (accessed 2026).
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Banking rankings

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

Peers First Community Bankshares discloses

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

ACNB Corp.C&F Financial Corp.Carter BanksharesCitizens & Northern Corp.Citizens Financial ServicesCity Holding Co.Civista Bancshares Inc.CNB Financial Corp.Colony Bankcorp Inc.Community Trust Bancorp Inc.Farmers & Merchants BancorpFarmers National Banc Corp.German American Bancorp Inc.HomeTrust Bancshares Inc.Horizon Bancorp Inc.Lakeland Financial Corp.Mid Penn Bancorp Inc.MVB Financial CorpOrrstown Financial ServicesPeoples Financial ServicesShore Bancshares Inc.SmartFinancial Inc.Southern First Bancshares Inc

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
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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