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SmartFinancial Executive Compensation (FY25)

SMBK · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
208 figures on this page: 201 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
William Carroll, Jr. was paid $1,717,633 in total compensation as President and Chief Executive Officer for fiscal 2025, and Carroll, Jr.'s total moved 65.2% higher from the $1,039,830 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 25:1, against median employee compensation of $69,128. For fiscal 2025, shareholders backed the say-on-pay proposal with 97.1% of votes cast for or against in favor at the meeting held May 21, 2026. The disclosed peer group includes BancPlus Corporation, Business First Bancshares, Inc., Capital City Bank Group, Inc., Civista Bancshares, Inc. and Community Trust Bancorp, Inc., among others.
Chief executive, fiscal 2025
◇
William Carroll, Jr.
Latest say-on-pay support
=
May 21, 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 Carroll, Jr.: $1,039,830 → $1,717,633 (65.2% higher)
CEO pay ratio: 16:1 → 25:1 (56.3% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is SmartFinancial's chief executive and what were they paid?
William Carroll, Jr. was paid $1,717,633 in total compensation as President and Chief Executive Officer for fiscal 2025. Carroll, Jr.'s total moved 65.2% higher from the $1,039,830 reported for fiscal 2024.
What was SmartFinancial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.1% of votes cast for or against in favor at the meeting held May 21, 2026.
Which companies are in SmartFinancial's peer group?
The disclosed peer group includes BancPlus Corporation, Business First Bancshares, Inc., Capital City Bank Group, Inc., Civista Bancshares, Inc. and Community Trust Bancorp, Inc., among others.
What is SmartFinancial's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 25:1, against median employee compensation of $69,128.

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
William Carroll Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Wesley Welborn
Chairman of the Board
◇—◇—◇—◇◇
Ronald Gorczynski
Chief Financial Officer
◇—◇—◇—◇◇
Rhett Jordan
Chief Credit Officer
◇—◇—◇—◇◇
Cynthia Cain
Chief Accounting Officer
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Carroll, Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Wesley Welborn
Chairman of the Board
◇—◇—◇—◇◇
Ronald Gorczynski
Chief Financial Officer
◇—◇—◇—◇◇
Rhett Jordan
Chief Credit Officer
◇—◇—◇—◇◇
Cynthia Cain
Chief Accounting Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Carroll, Jr.
President and Chief Executive Officer
◇—◇—◇—◇◇
Wesley Welborn
Chairman of the Board
◇—◇—◇—◇◇
Ronald Gorczynski
Chief Financial Officer
◇—◇—◇—◇◇
Rhett Jordan
Chief Credit Officer
◇—◇—◇—◇◇
Cynthia Cain
Chief Accounting 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
Cynthia A. CainRSU◇——◇——◇
Rhett D. JordanRSU◇——◇——◇
Ronald J. GorczynskiRSU◇——◇——◇
Wesley M. WelbornRSU◇——◇——◇
William Y. Carroll JrRSU◇——◇——◇
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
Wesley WelbornRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
William CarrollRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Cynthia CainRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Rhett JordanRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Ronald GorczynskiRSU◇◇——
RSU◇◇——
RSU◇◇——
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
William (Bill) Y. Carroll, Sr
◇—————◇
David A. Ogle
Lead independent director
◇◇————◇
Victor L. Barrett
◇◇————◇
Geoffrey A. Wolpert
◇◇————◇
Steve B. Tucker
◇◇————◇
Cathy G. Ackermann
◇◇————◇
Keith E. Whaley, O.D
◇◇————◇
Ted C. Miller
◇◇————◇
Kelli D. Shomaker
◇◇————◇
Wesley M. (Miller) Welborn and William (Billy) Y. Carroll, Jr 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◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • BancPlus Corporation symbol not shown
  • Business First Bancshares, Inc. BFST
  • Capital City Bank Group, Inc. CCBG
  • Civista Bancshares, Inc. CIVB
  • Community Trust Bancorp, Inc. CTBI
  • Farmers National Banc Corp. FMNB
  • First Financial Corporation THFF
  • First Guaranty Bancshares, Inc. FGBI
  • First Mid Bancshares, Inc. FMBH
  • German American Bancorp, Inc. GABC
  • Great Southern Bancorp, Inc. GSBC
  • HBT Financial, Inc. HBT
  • HomeTrust Bancshares, Inc. HTB
  • Horizon Bancorp, Inc. HBNC
  • Lakeland Financial Corporation LKFN
  • Midland States Bancorp Inc. MSBI
  • Old Second Bancorp, Inc. OSBC
  • Republic Bancorp, Inc. RBCAA
  • Southern First Bancshares, Inc. SFST
  • Southern Missouri Bancorp, Inc SMBC
  • Wilson Bank Holding Company WBHC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2018May 2, 2019=◇◇◇
2015May 19, 2016=◇◇◇

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 SmartFinancial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where SmartFinancial 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.
208 figures on this page: 201 cited to the filing that reported them, 7 calculated from figures it prints.
201 cited to the filing
7 calculated from the filing

Documents cited

  1. 0001104659-26-065799
  2. 0001104659-26-040440
    2025 Director Compensation · CEO Pay Ratio · CORPORATE GOVERNANCE AND THE BOARD OF DIRECTORS · Grants of Plan-Based Awards · and 2 more sections
  3. 0001558370-25-008113
  4. 0001558370-25-004607
    Named Executive Officers
  5. 0001558370-24-008687
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001558370-24-004885
    Named Executive Officers
  7. 0001558370-23-010550
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001558370-22-009493
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001038773-19-000016
  10. 0001144204-16-104553
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “SmartFinancial executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/SMBK (accessed 2026).
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Banking rankings

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

Peers SmartFinancial discloses

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

Business First Bancshares, Inc.Capital City Bank Group, Inc.Civista Bancshares, Inc.Community Trust Bancorp, Inc.Farmers National Banc Corp.First Financial CorporationFirst Mid Bancshares, Inc.German American Bancorp, Inc.Great Southern Bancorp, Inc.HBT Financial, Inc.HomeTrust Bancshares, Inc.Horizon Bancorp, Inc.Lakeland Financial CorporationMidland States Bancorp Inc.Old Second Bancorp, Inc.Republic Bancorp, Inc.Southern First Bancshares, Inc.Southern Missouri Bancorp, IncWilson Bank Holding Company

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