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John C. Asbury

Chief Executive Officer at Atlantic Union Bankshares
Board
Since January 2017
Age
59 years
Education
Holds a B.S. degree in Business from Virginia Tech and an MBA from The College of William & Mary.
Tenure
Joined AUB as President in October 2016 and became CEO in January 2017, serving in multiple key leadership roles.

Also at Atlantic Union Bankshares

BSH
Bradley S. Haun
Chief Risk Officer
CM
Clare Miller
Executive Vice President (EVP) and Chief Human Resources Officer
DVR
David V. Ring
Executive Vice President (EVP) and Wholesale Banking Group Executive

About

John C. Asbury is the Chief Executive Officer of Atlantic Union Bankshares, demonstrating extensive leadership and strategic direction in the banking industry.

Born in 1965 and residing in Richmond, Virginia, he has built his career on a solid educational foundation, earning a B.S. in Business and an MBA, which have supported his rise through various executive roles.

His tenure at AUB began in October 2016 when he joined as President, and he assumed the role of CEO in January 2017, reflecting his strong commitment to driving organizational growth and operational excellence.

$AUB Performance Under John C. Asbury

Past Roles

OrganizationRoleDate RangeDetails
Atlantic Union Bank President of the Bank May 2018 – September 2018 Held prior to his CEO appointment
Atlantic Union Bank President of the Bank October 2016 – September 2017 Held prior to his CEO appointment
Atlantic Union Bankshares Corporation (AUB) President of the Company October 2016 – January 2017 Held prior to his CEO appointment
First National Bank of Santa Fe President and Chief Executive Officer February 2015 – August 2016 Pre-AUB role
Regions Bank Senior Executive Vice President and Head of the Business Services Group May 2010 – July 2014 Pre-AUB role
Regions Bank Business Banking Division Executive March 2008 – May 2010 (approx.) Pre-AUB role
Bank of America Senior Vice President N/A Held various roles prior to joining AUB

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$990,000Annual (approved Feb 15, 2024)10% increase from 2023
Time-Based Restricted Stock$791,989Award granted in 2024 (vesting subject to LTIP conditions)24,146 shares under LTIP; subject to clawback provisions
All Other Compensation$142,193Paid during 2024Includes retirement contributions ($15,420), dividends on RS awards ($50,148), other plan payments ($21,107), BOLI Income ($125), and other benefits ($55,393, including $27,322 executive wellness)

Performance Compensation

Data from  FY 2024

TSR Performance Share Units (PSUs)

MetricDetails
Performance MeasureRelative TSR vs. KBW Regional Banking Index
Weight50%
Threshold25th percentile; 50% payout of target
Target50th percentile; 100% payout of target
Maximum100th percentile; 200% payout of target
Performance PeriodJan 1, 2024 – Dec 31, 2026
Vesting ConditionMust remain employed through payment date (within 60 days post performance period)
Grant DateFebruary 22, 2024
Grant Date Fair Value$570,466
Grant Date Stock Price$30.24
Target Units18,110
Maximum Units72,440

ROATCE Performance Share Units (ROATCE PSUs)

MetricDetails
Performance MeasureCore ROATCE vs. KBW Regional Banking Index
Weight50%
Threshold25th percentile; 50% payout of target
Target50th percentile
Maximum100th percentile; 200% payout
Performance Period2024 – 2026 (three-year period)
Vesting ConditionMust remain employed through payment date (within 60 days post performance period)
Grant DateFebruary 2024
Grant Date Fair Value$524,827
Maximum Value$1,049,654

Non-Equity Incentive Plan Compensation

MetricDetails
Target Award100% of base salary ($990,000)
Weight80% on corporate measures; 20% on individual/divisional measures
Threshold$495,000 (50% of target)
Target$990,000 (100% of target)
Maximum$1,980,000 (200% of target)
Payment TypeCash under the Management Incentive Plan
ConditionsContingent on achieving corporate and individual/divisional performance measures
Vesting/PaymentPaid if employed at payment date; no payout if terminated (except for certain conditions)
Grant DateN/A (cash-based award)
Grant Date Fair ValueN/A (cash-based award)
Grant Date Stock PriceN/A (cash-based award)