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Independent Bank Group Executive Compensation (FY23)

IBTX · Executive and director compensation, fiscal 2023 only
Chief executive, fiscal 2023
◇
David Brooks
Latest say-on-pay support
=
June 11, 2024
Chief executive pay ratio
◇
To the median employee
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Data as of October 11, 2026Latest filing (8-K): June 13, 2024
7 filings cited on this page
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225 figures on this page: 219 cited to the filing that reported them, 6 calculated from figures it prints. See the citations

More on Independent Bank Group

Five data products on this company. Each one is requested through the developer setup page.

Frequently asked questions

Answers drawn from the data on this page.
Who is Independent Bank Group's chief executive and what were they paid?
David Brooks was paid $3,217,738 in total compensation as Chairman and Chief Executive Officer for fiscal 2023.
What was Independent Bank Group's say-on-pay result?
The say-on-pay proposal drew 98.1% of votes cast for or against in favor at the meeting held June 11, 2024 for fiscal 2023.
Which companies are in Independent Bank Group's peer group?
The disclosed peer group includes Ameris Bancorp, Atlantic Union Bankshares Corp, BancorpSouth Bank, Bank OZK and Cadence Bancorporation, among others.
What is Independent Bank Group's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2023 is 37:1, against median employee compensation of $86,940.

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
David Brooks
Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Michael Hobbs
President and Chief Operating Officer
◇—◇—◇—◇◇
Daniel Brooks
Vice Chairman
◇—◇—◇—◇◇
John Turpen
Executive Vice President and Chief Risk Officer
◇—◇—◇—◇◇
Paul Langdale
Executive Vice President and Chief Financial 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 2023
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Daniel W. BrooksRSA◇—◇—◇—◇
David R. BrooksRSA◇—◇—◇—◇
David R. BrooksPSA◇◇◇—◇—◇
John G. TurpenRSU◇——◇——◇
John G. TurpenPSU◇◇◇—◇—◇
Michael B. HobbsRSU◇——◇——◇
Michael B. HobbsPSU◇◇◇—◇—◇
Paul B. LangdaleRSU◇——◇——◇
Paul B. LangdalePSU◇◇◇—◇—◇
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 2023 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Michael HobbsPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
John TurpenRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Daniel BrooksRSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Paul LangdaleRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
David BrooksRSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
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.
Daniel Brooks
Terms as described in the company’s compensation discussion · citing a 2024 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation◇
David Brooks
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing
Change-in-control multiple◇
Equity acceleration on change in control◇
John Turpen
Executive Vice President and Chief Risk Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation◇
Michael Hobbs
President and Chief Operating Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing
Change-in-control multiple◇
Equity acceleration on change in control◇
Paul Langdale
Executive Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2024 filing
Severance multiple◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2023
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
G. Stacy Smith
Lead independent director
◇◇———◇◇
Craig E. Holmes
◇◇———◇◇
William E. Fair
◇◇———◇◇
Michael T. Viola
◇◇———◇◇
Donald L. Poarch
◇◇———◇◇
J. Webb Jennings III
◇◇———◇◇
Paul E. Washington
◇◇———◇◇
Alicia K. Harrison
◇◇———◇◇
Janet P. Froetscher
◇◇———◇◇
Daniel W. Brooks and David R. Brooks served on the board in fiscal 2023 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
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◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual cash retainer ($325,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2023
  • Ameris Bancorp ABCB
  • Atlantic Union Bankshares Corp AUB
  • BancorpSouth Bank symbol not shown
  • Bank OZK OZK
  • Cadence Bancorporation symbol not shown
  • First Financial Bancorp FFBC
  • First Financial Bankshares FFIN
  • First Foundation, Inc. FFWM
  • First Merchants Corporation FRME
  • Glacier Bancorp GBCI
  • Heartland Financial USA HTLF
  • Hilltop Holdings HTH
  • Pinnacle Financial Partners PNFPP
  • Prosperity Bancshares PB
  • Renasant Corporation RNST
  • Texas Capital Bancshares TCBI
  • Trustmark Corporation TRMK
  • United Bankshares UBSI
  • United Community Bank UCB
  • Veritex Holdings, Inc. VBTX

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2023June 11, 2024=◇◇◇
2022May 18, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 27, 2021=◇◇◇
2019August 27, 2020=◇◇◇
2018May 23, 2019=◇◇◇

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?”
- David Brooks (Chairman and Chief Executive Officer), FY2023 total compensation $3,217,738 (base salary $959,375) [exec_comp, SEC accession 0001564618-24-000071, filed 2024-04-26]

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What this page does not include

Everything above is a fact Independent Bank Group disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Independent Bank Group 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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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
225 figures on this page: 219 cited to the filing that reported them, 6 calculated from figures it prints.
219 cited to the filing
6 calculated from the filing

Documents cited

  1. 0001564618-24-000083
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001564618-24-000071
    CEO Pay Ratio · Compensation Discussion and Analysis · Director Compensation · GRANTS OF PLAN-BASED AWARDS · and 2 more sections
  3. 0001564618-23-000095
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001564618-22-000085
  5. 0001564618-21-000059
  6. 0001564618-20-000070
  7. 0001564618-19-000076
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Independent Bank Group executive compensation, FY2023.” https://intel.velarion.ai/comp/IBTX (accessed 2026).
Short form: data: Velarion

The paid brief for Independent Bank Group

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.
7 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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Peers Independent Bank Group discloses

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

Ameris BancorpAtlantic Union Bankshares CorpBank OZKFirst Financial BancorpFirst Financial BanksharesFirst Foundation, Inc.First Merchants CorporationGlacier BancorpHeartland Financial USAHilltop HoldingsPinnacle Financial PartnersProsperity BancsharesRenasant CorporationTexas Capital BancsharesTrustmark CorporationUnited BanksharesUnited Community BankVeritex Holdings, 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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