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QNB Executive Compensation (FY25)

QNBC · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (DEF 14A): April 30, 2026
192 figures on this page: 188 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Total compensation for David Freeman, President and Chief Executive Officer, came to $925,072 in fiscal 2025, and Freeman's total moved 21.0% higher from the $764,667 reported for fiscal 2024. Meanwhile, the say-on-pay proposal drew 96.7% of votes cast for or against in favor at the meeting held May 20, 2025 for fiscal 2024. Separately, the disclosed peer group includes AmeriServ Financial Inc., Blue Foundry Bancorp, Capital Bancorp, Inc., CB Financial Services Inc. and Citizens & Northern Corp., among others. For fiscal 2025, the company reported 6 named executive officers.
Chief executive, fiscal 2025
◇
David Freeman
Median of the other named officers
$486,598
5 officers, excluding the chief executive
Latest say-on-pay support
=
May 20, 2025
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 — David Freeman: $764,667 → $925,072 (21.0% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is QNB's chief executive and what were they paid?
Total compensation for David Freeman, President and Chief Executive Officer, came to $925,072 in fiscal 2025. Freeman's total moved 21.0% higher from the $764,667 reported for fiscal 2024.
What was QNB's say-on-pay result?
The say-on-pay proposal drew 96.7% of votes cast for or against in favor at the meeting held May 20, 2025 for fiscal 2024.
Which companies are in QNB's peer group?
The disclosed peer group includes AmeriServ Financial Inc., Blue Foundry Bancorp, Capital Bancorp, Inc., CB Financial Services Inc. and Citizens & Northern Corp., among others.
What is QNB's chief executive pay ratio?
The company reported a chief executive pay ratio of 7:1 for fiscal 2025.

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 Freeman
Principal Executive Officer
◇———◇◇◇◇
Jeffrey Lehocky
Principal Financial Officer
◇——◇◇◇◇◇
Scott Orzehoski
Executive Vice President
◇——◇◇◇◇◇
Christopher Cattie
Executive Vice President
◇——◇◇◇◇◇
Courtney Covelens
Executive Vice President
◇——◇◇◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Freeman
Chief Executive Officer
◇———◇◇◇◇
Jeffrey Lehocky
Executive Vice President and Chief Financial Officer
◇——◇◇◇◇◇
Scott Orzehoski
Executive Vice President, Chief Lending Officer
◇——◇◇◇◇◇
Christopher Cattie
Executive Vice President and Chief Operating Officer
◇——◇◇◇◇◇
Courtney Covelens
Executive Vice President, Chief Retail Officer and Chief Business Banking Officer
◇——◇◇◇◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Freeman
President and Chief Executive Officer
◇———◇◇◇◇
Jeffrey Lehocky
Executive Vice President and Chief Financial Officer
◇——◇◇◇◇◇
Christopher Cattie
Executive Vice President and Chief Operating Officer
◇——◇◇◇◇◇
Scott Orzehoski
Executive Vice President, Chief Lending Officer
◇——◇◇◇◇◇
Christina McDonald
Executive Vice President, Chief Marketing Officer, and Chief Retail Lending Officer
◇——◇◇◇◇◇
Courtney Covelens
Executive Vice President, Chief Retail Officer and Chief Business Banking 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
Christina S. McDonaldOPTION◇——◇—◇◇
Christopher T. CattieOPTION◇——◇—◇◇
Courtney L. CovelensOPTION◇——◇—◇◇
Jeffrey LehockyOPTION◇——◇—◇◇
Scott G. OrzehoskiOPTION◇——◇—◇◇
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
Courtney CovelensOption◇—◇2/15/2033
Option◇—◇2/14/2035
Option◇—◇2/15/2034
Christopher CattieOption◇—◇2/15/2033
Option◇—◇2/14/2035
Option◇—◇2/15/2034
Christina McDonaldOption◇—◇2/14/2035
Option◇—◇2/15/2034
Option◇—◇2/15/2033
Scott OrzehoskiOption◇—◇2/15/2034
Option◇—◇2/14/2035
Option◇—◇2/15/2033
Jeffrey LehockyOption◇—◇2/15/2033
Option◇—◇2/14/2035
Option◇—◇2/15/2034
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
Randy S. Bimes
Board chair
◇◇————◇
Kenneth F. Brown, Jr
◇◇————◇
Jennifer L. Mann
◇◇————◇
Scott R. Stevenson
◇◇————◇
Autumn R. Bayles
◇◇————◇
Ranajoy Ray-Chaudhuri
◇◇————◇
Randall E. Stauffer
——————◇
W. Randall Stauffer
◇◇————◇
Laurie A. Bergman
◇◇————◇
Kevin L. Johnson, Gerald E. Gorski, Joseph W. Major and David W. Freeman 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◇
Board chair premium◇
Board meeting fee◇
Committee meeting fee◇
Equity is delivered as Stock Awards.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • AmeriServ Financial Inc. ASRV
  • Blue Foundry Bancorp BLFY
  • Capital Bancorp, Inc. CBNK
  • CB Financial Services Inc. CBFV
  • Citizens & Northern Corp. CZNC
  • Citizens Financial Services, Inc. CZFS
  • Embassy Bancorp Inc. EMYB
  • ENB Financial Corp. ENBP
  • Esquire Financial Holdings Inc. ESQ
  • ESSA Bancorp Inc. ESSA
  • Evans Bancorp, Inc. EVBN
  • Fidelity D&D Bancorp, Inc. FDBC
  • First Keystone Corp. FKYS
  • First United Corp. FUNC
  • Franklin Financial Services FRAF
  • Hanover Bancorp Inc. HNVR
  • LINKBANCORP Inc. LNKB
  • Meridian Corp. MRBK
  • Northeast Community Bancorp Inc. NECB
  • Norwood Financial Corp. NWFL
  • Orange County Bancorp, Inc. OBT
  • Parke Bancorp, Inc. PKBK
  • Pathfinder Bancorp Inc. PBHC
  • Penns Woods Bancorp Inc. PWOD
  • Pioneer Bancorp PBFS
  • Pioneer Bancorp (MHC) symbol not shown
  • Ponce Financial Group, Inc. PDLB
  • Princeton Bancorp Inc. BPRN
  • Rhinebeck Bancorp Inc. RBKB
  • Unity Bancorp Inc. UNTY

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2024May 20, 2025=◇◇◇
2021May 24, 2022=◇◇◇
2018May 28, 2019=◇◇◇
2015May 24, 2016=◇◇◇

Chief executive pay ratio

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

Everything above is a fact QNB disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where QNB 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.
192 figures on this page: 188 cited to the filing that reported them, 4 calculated from figures it prints.
188 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001193125-26-194037
    DIRECTOR COMPENSATION · GRANTS OF PLAN-BASED AWARDS - 2025 · OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END 2025 · SUMMARY COMPENSATION TABLE & · and 1 more section
  2. 0000950170-25-075718
    Item 5.07 Submission of Matters to a Vote of Security Holders
  3. 0000950170-25-051805
    SUMMARY COMPENSATION TABLE ‑ 2024
  4. 0000950170-24-042803
    SUMMARY COMPENSATION TABLE ‑ 2023
  5. 0001564590-22-021220
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001564590-19-020767
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001437749-16-032706
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “QNB executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/QNBC (accessed 2026).
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Banking rankings

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

Peers QNB discloses

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

AmeriServ Financial Inc.Capital Bancorp, Inc.CB Financial Services Inc.Citizens & Northern Corp.Citizens Financial Services, Inc.Embassy Bancorp Inc.ENB Financial Corp.Esquire Financial Holdings Inc.Fidelity D&D Bancorp, Inc.First United Corp.Franklin Financial ServicesHanover Bancorp Inc.LINKBANCORP Inc.Northeast Community Bancorp Inc.Norwood Financial Corp.Orange County Bancorp, Inc.Parke Bancorp, Inc.Pathfinder Bancorp Inc.Pioneer BancorpPonce Financial Group, Inc.Princeton Bancorp Inc.Rhinebeck Bancorp Inc.Unity 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}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy