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HBT Financial Executive Compensation (FY25)

HBT · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 21, 2026
185 figures on this page: 183 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
J. Lance Carter, President, Chief Executive Officer and Director, received $1,294,800 in total compensation for fiscal 2025, and Carter's total was 6.3% higher than the $1,218,259 reported for fiscal 2024. The company reported a chief executive pay ratio of 22:1 for fiscal 2025, against median employee compensation of $59,239. For fiscal 2025, shareholders backed the say-on-pay proposal with 98.7% of votes cast including abstentions in favor at the meeting held May 19, 2026. The disclosed peer group includes Bank First Corporation, Byline Bancorp, Inc., Civista Bancshares, Inc., Farmers National Banc Corp. and First Financial Corporation, among others.
Chief executive, fiscal 2025
◇
J. Lance Carter
Latest say-on-pay support
=
May 19, 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 — J. Lance Carter: $1,218,259 → $1,294,800 (6.3% higher)
Say-on-pay support: 98.7% → 98.7% (0.0 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is HBT Financial's chief executive and what were they paid?
J. Lance Carter, President, Chief Executive Officer and Director, received $1,294,800 in total compensation for fiscal 2025. Carter's total was 6.3% higher than the $1,218,259 reported for fiscal 2024.
What was HBT Financial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.7% of votes cast including abstentions in favor at the meeting held May 19, 2026.
Which companies are in HBT Financial's peer group?
The disclosed peer group includes Bank First Corporation, Byline Bancorp, Inc., Civista Bancshares, Inc., Farmers National Banc Corp. and First Financial Corporation, among others.
What is HBT Financial's chief executive pay ratio?
The company reported a chief executive pay ratio of 22:1 for fiscal 2025, against median employee compensation of $59,239.

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
J. Lance Carter
President, Chief Executive Officer and Director
◇—◇—◇—◇◇
Fred Drake
Executive Chairman
◇—◇—◇—◇◇
Peter Chapman
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
J. Lance Carter
President, Chief Executive Officer and Director
◇—◇—◇—◇◇
Fred Drake
Executive Chairman
◇—◇—◇—◇◇
Peter Chapman
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Lawrence Horvath
Executive Vice President and Chief Lending Officer
◇—◇—◇—◇◇
Mark Scheirer
Executive Vice President and Chief Credit Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
J. Lance Carter
President, Chief Executive Officer and Director
◇—◇—◇—◇◇
Peter Chapman
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fred Drake
Executive Chairman
◇—◇—◇—◇◇
Lawrence Horvath
Executive Vice President and Chief Lending Officer
◇—◇—◇—◇◇
Mark Scheirer
Executive Vice President and 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.

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
Fred L. DrakeRSU◇——◇——◇
Fred L. DrakePSU◇◇◇◇◇—◇
J. Lance CarterRSU◇——◇——◇
J. Lance CarterPSU◇◇◇◇◇—◇
Lawrence J. HorvathRSU◇——◇——◇
Lawrence J. HorvathPSU◇◇◇◇◇—◇
Mark W. ScheirerPSU◇◇◇◇◇—◇
Mark W. ScheirerRSU◇——◇——◇
Peter R. ChapmanRSU◇——◇——◇
Peter R. ChapmanPSU◇◇◇◇◇—◇
Fiscal 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
Lawrence HorvathRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Peter ChapmanRSU◇◇——
RSU◇◇——
PSU◇◇——
Mark ScheirerRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Fred DrakeRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
J. CarterRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
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
Gerald E. Pfeiffer
◇◇———◇◇
C. Alvin Bowman
◇◇———◇◇
Eric E. Burwell
◇◇———◇◇
Allen C. Drake
◇◇———◇◇
Linda J. Koch
◇◇———◇◇
Roger A. Baker
◇◇———◇◇
Fred L. Drake, J. Lance Carter, James T. Ashworth, Nancy L. Ruyle, Patrick F. Busch and Michael J. Morton 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
  • Bank First Corporation BFC
  • Byline Bancorp, Inc. BY
  • Civista Bancshares, Inc. CIVB
  • Farmers National Banc Corp. FMNB
  • First Financial Corporation THFF
  • First Mid Bancshares, Inc. FMBH
  • German American Bancorp, Inc. GABC
  • Great Southern Bancorp, Inc. GSBC
  • Horizon Bancorp, Inc. HBNC
  • Independent Bank Corporation IBCP
  • Lakeland Financial Corporation LKFN
  • Mercantile Bank Corporation MBWM
  • Midland States Bancorp, Inc. MSBI
  • MidWestOne Financial Group, Inc. MOFG
  • Nicolet Bankshares, Inc. NIC
  • Old Second Bancorp, Inc. OSBC
  • Peoples Bancorp Inc. PEBO
  • Premier Financial Corp. PFC
  • QCR Holdings, Inc. QCRH
  • Southern Missouri Bancorp, Inc. SMBC
  • Stock Yards Bancorp, Inc. SYBT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 19, 2026=◇◇◇
2024May 20, 2025=◇◇◇

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 HBT Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where HBT 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 — $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.
185 figures on this page: 183 cited to the filing that reported them, 2 calculated from figures it prints.
183 cited to the filing
2 calculated from the filing

Documents cited

  1. 0000775215-26-000059
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000775215-26-000037
    CEO Pay Ratio · DIRECTOR COMPENSATION · Grants of Plan-Based Awards · Outstanding Equity Awards at 2025 Year End · and 1 more section
  3. 0000775215-25-000024
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001628280-25-017135
    Summary Compensation Table
  5. 0001628280-24-016493
    Summary Compensation Table
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This page is free to cite. Attribution we ask for:
Velarion, “HBT Financial executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/HBT (accessed 2026).
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Banking rankings

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

Peers HBT Financial discloses

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

Bank First CorporationByline Bancorp, Inc.Civista Bancshares, Inc.Farmers National Banc Corp.First Financial CorporationFirst Mid Bancshares, Inc.German American Bancorp, Inc.Great Southern Bancorp, Inc.Horizon Bancorp, Inc.Independent Bank CorporationLakeland Financial CorporationMercantile Bank CorporationMidland States Bancorp, Inc.Nicolet Bankshares, Inc.Old Second Bancorp, Inc.Peoples Bancorp Inc.QCR Holdings, Inc.Southern Missouri Bancorp, Inc.Stock Yards Bancorp, 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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