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Primis Financial Executive Compensation (FY25)

FRST · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Dennis Zember, Jr.
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 19, 2026Latest filing (8-K): May 27, 2026
15 filings cited on this page
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228 figures on this page: 217 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Primis Financial

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 — Dennis Zember, Jr.: $788,439 → $2,185,079 (177.1% higher)
Say-on-pay support: 95.6% → 89.0% (6.6 points lower)
CEO pay ratio: 29:1 → 36:1 (24.1% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Primis Financial's chief executive and what were they paid?
Dennis Zember, Jr., President and Chief Executive Officer, received $2,185,079 in total compensation for fiscal 2025. Compared with the $788,439 reported for fiscal 2024, Zember, Jr.'s total was 177.1% higher.
What was Primis Financial's say-on-pay result?
Shareholders supported the say-on-pay proposal with 89.0% of votes cast including abstentions in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Primis Financial's peer group?
The disclosed peer group includes ACNB Corporation, Bankwell Financial Group, Inc., BCB Bancorp, Inc., Blue Ridge Bankshares, Inc. and C&F Financial Corporation, among others.
What is Primis Financial's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 36:1, against median employee compensation of $61,272.

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
Dennis Zember Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Matthew Switzer
Executive Vice President and
◇—◇—◇—◇◇
Stephen Weber
Executive Vice President and Chief Strategy Officer
◇—◇—◇—◇◇
G. Cody Sheflett
Executive Vice President and Chief Information Officer
◇—◇—◇—◇◇
Marie Leibson
Executive Vice President and Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dennis Zember, Jr.
President and Chief Executive Officer
◇—◇———◇◇
Matthew Switzer
Executive Vice President and Chief Financial Officer
◇—◇———◇◇
Rickey Fulk
Executive Vice President and President of Primis Bank
◇—◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dennis J. Zember, Jr.
President and Chief Executive Officer
◇—————◇◇
Matthew A. Switzer
Executive Vice President and Chief Financial Officer
◇———◇—◇◇
Rickey A. Fulk
Executive Vice President and President of Primis Bank
◇———◇—◇◇
Marie T. Leibson
Executive Vice President and Chief Credit Officer
◇———◇—◇◇
Ann-Stanton C. Gore
Executive Vice President and Chief Marketing Officer
◇———◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dennis Zember, Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Matthew Switzer
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Rickey Fulk
Executive Vice President and President of Primis Bank
◇—◇—◇—◇◇
Marie Leibson
Executive Vice President and Chief Credit Officer
◇—◇—◇—◇◇
Ann-Stanton Gore
Executive Vice President and Chief Strategy 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.

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
Ann-Stanton C. GorePSU◇◇◇—◇—◇
Dennis J. Zember Jr.PSU◇◇◇—◇—◇
Marie T. LeibsonPSU◇◇◇—◇—◇
Matthew A. SwitzerPSU◇◇◇—◇—◇
Rickey A. FulkPSU◇◇◇—◇—◇
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
Dennis Zember, Jr.PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Rickey FulkPSU◇◇——
PSU◇◇——
PSU◇◇——
Matthew SwitzerPSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Marie LeibsonPSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
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.
Dennis Zember, Jr.
Chief Executive Officer · Employment agreement
Severance multiple◇
Matthew Switzer
Chief Financial Officer · Employment agreement
Severance multiple◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John F. Biagas
Board chair
◇————◇◇
W. Rand Cook
◇————◇◇
Robert Y. Clagett
◇————◇◇
Eric A. Johnson
◇————◇◇
Deborah B. Diaz
◇————◇◇
F.L. Garrett III
◇————◇◇
John M. Eggemeyer
◇—————◇
Charles A. Kabbash
◇—————◇
Allen R. Jones Jr
◇—————◇
Dennis J. Zember Jr, J. Brock Saunders and Scott R. Gamble 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◇
Total board retainer◇
Board chair premium◇
Board meeting fee◇
Committee meeting fee◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • ACNB Corporation ACNB
  • Bankwell Financial Group, Inc. BWFG
  • BCB Bancorp, Inc. BCBP
  • Blue Ridge Bankshares, Inc. BBSI
  • C&F Financial Corporation CFBI
  • Capital City Bank Group CCBG
  • CNB Financial CNB
  • First Community Bancshares FCBC
  • HomeTrust Bancshares HMBL
  • John Marshall Bancorp JMBL
  • MainStreet Bancshares, Inc. MSBI
  • MetroCity Bankshares MCBC
  • Mid Penn Bancorp MPB
  • MVB Financial MVBF
  • Orrstown Financial Services ORRF
  • Peoples Financial Services POFS
  • Shore Bancshares, Inc. SHBI
  • SmartFinancial Inc. SMBK
  • Southern First Bancshares, Inc. SFBS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024June 26, 2025=◇◇◇
2023December 19, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 27, 2021=◇◇◇
2019May 21, 2020=◇◇◇
2018May 23, 2019=◇◇◇
2017May 24, 2018=◇◇◇
2016June 21, 2017=◇◇◇
2015April 28, 2016=◇◇◇

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?”
- Dennis Zember, Jr. (President and Chief Executive Officer), FY2025 total compensation $2,185,079 (base salary $748,590) [exec_comp, SEC accession 0001104659-26-041860, filed 2026-04-10]

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What this page does not include

Everything above is a fact Primis Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Primis Financial 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 — $499
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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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.
228 figures on this page: 217 cited to the filing that reported them, 11 calculated from figures it prints.
217 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-067031
    Item 5.07. Submission of Matters to a Vote of Security Holders.
  2. 0001104659-26-041860
    CEO Pay Ratio · Director Compensation · Potential Payments Upon Termination · Summary Compensation Table
  3. 0001104659-25-063530
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001558370-25-007928
    Summary Compensation Table
  5. 0001104659-24-130593
  6. 0001558370-24-015070
  7. 0000950170-23-024399
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001558370-23-005849
  9. 0001564590-22-021622
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001558370-21-007945
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001104659-20-065311
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001144204-19-028401
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001144204-18-031327
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001571049-17-006235
  15. 0001171843-16-009521
    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, “Primis Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FRST (accessed 2026).
Short form: data: Velarion

The paid brief for Primis Financial

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
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

Peers Primis Financial discloses

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

ACNB CorporationBankwell Financial Group, Inc.BCB Bancorp, Inc.Blue Ridge Bankshares, Inc.Capital City Bank GroupCNB FinancialFirst Community BancsharesMainStreet Bancshares, Inc.MetroCity BanksharesMid Penn BancorpMVB FinancialOrrstown Financial ServicesShore Bancshares, Inc.SmartFinancial Inc.Southern First Bancshares, 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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