Peter J. Van Sistine
About Peter J. Van Sistine
Independent director (age 68) serving on BFC’s Board since 2018; Chair of the Compensation Committee and Board representative to the Information Technology Committee. Background spans 40+ years in financial technology: Founder & CEO of pvsfintechgroup (since 2023), prior senior executive roles at NCR (Global Enterprise Account EVP), FIS (27 years as EVP of Sales), Metavante, and earlier experience at Valley Bank. Education includes University of Wisconsin and Northwestern University’s J.L. Kellogg Graduate School of Management.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NCR | Global Enterprise Account Executive Vice President | Not disclosed | Customer Experience and Journey offerings as a Service leadership |
| FIS | Executive Vice President of Sales | 27 years | Led sales/marketing programs to drive new business and retention; supported organic growth and acquisitions |
| Metavante | Senior roles in fintech | Not disclosed | CRM, Digital Banking, Data Warehousing, Executive Information Solutions expertise |
| Valley Bank (Appleton, WI) | Banking roles | Not disclosed | Community banking roots |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| pvsfintechgroup | Founder & CEO | Since 2023 | Fintech partnerships focus |
No other public company directorships are disclosed in the 2025 proxy for Mr. Van Sistine.
Board Governance
| Committee | Role | 2024 Activity/Frequency | Notes |
|---|---|---|---|
| Compensation Committee | Chair | 3 meetings in 2024 | All members meet SEC/NASDAQ independence; no interlocks requiring disclosure |
| Information Technology Committee | Board representative/advisor | Bi-monthly meetings | Advises on cybersecurity, fraud, and information security risk |
| Independence status | Independent | As determined by the Board (NASDAQ/SEC rules) | Listed as independent; committee independence satisfied |
- Board meeting cadence: Company Board met 6 times; Bank Board met 11 times in 2024; all incumbent directors attended at least 75% of Board and committee meetings; all (serving a full year) attended the 2024 Annual Meeting.
- Board committee composition table lists Mr. Van Sistine as an independent director, Director Since 2018, and Chair (C) of Compensation Committee.
Fixed Compensation (Non-Employee Director – FY2024)
| Component | Amount |
|---|---|
| Annual retainer (cash) | $25,000 |
| Compensation Committee Chair fee | $15,000 |
| Cash fees paid (total) | $40,000 |
| Dividends on unvested stock awards | $911 |
| All other compensation | $0 |
| Total compensation | $95,941 |
Compensation structure for non-employee directors (2024 policy): Annual stock award $55,000; Audit/Comp/GN Chair fees $15,000; Board Chair fee $25,000 (if independent); Lead Independent Director fee $25,000 (if Chair not independent). No changes made to director compensation in 2024 following 2023 adjustments.
Performance Compensation (Equity Awards – FY2024)
| Term/Metric | Detail |
|---|---|
| Equity type | Restricted stock (time-based) |
| Grant date | March 1, 2024 (for 2023 board service) |
| Shares granted | 641 shares |
| Grant-date fair value per share | $85.85 |
| Grant-date value | $55,030 |
| Vesting schedule | One-year anniversary of grant (time-based, no performance metrics) |
| Performance metrics tied to director equity | None disclosed (director equity is time-based) |
Other Directorships & Interlocks
| Item | Disclosure |
|---|---|
| Compensation Committee interlocks | None; no member has officer history with the Company; no related-party transactions requiring disclosure; no interlocking relationships under SEC rules |
Expertise & Qualifications
- Financial technology leadership (CRM, Digital Banking, Data Warehousing, Executive Information) with deep community banking roots.
- Cybersecurity/fraud/information security oversight via IT Committee role.
- Education: University of Wisconsin; Northwestern University’s J.L. Kellogg Graduate School of Management.
Equity Ownership
| Measure | Value |
|---|---|
| Beneficial ownership (Apr 7, 2025) | 9,020 shares |
| % of shares outstanding | Less than 1% (based on 9,980,470 outstanding) |
| Ownership form | All shares held directly (footnote o) |
| Stock ownership guidelines | At election: ≥2,000 shares; within 5 years: ≥5x annual stock award or $275,000; all directors complied in FY2024 |
| Pledging | No pledging disclosed |
| Hedging/insider trading policy | Directors subject to Insider Trading Policy (on website) |
Governance Assessment
- Board effectiveness: Independent director since 2018; Chairs Compensation Committee; active governance via IT Committee advisory role; committee independence affirmed; Compensation Committee met 3 times in 2024.
- Alignment: Holds 9,020 shares; director equity granted annually ($55k target, time-based vesting); director ownership policy in place and reported compliant across directors in 2024.
- Attendance/engagement: Board and committee attendance at least 75% for incumbents; Annual Meeting attendance for those serving a full year.
- Conflicts/related-party exposure: No related-party transactions requiring disclosure; loans to related persons only on market terms in ordinary course; Compensation Committee interlocks not present per SEC rules.
RED FLAGS: None disclosed—no related-party transactions, no interlocks, no pledging, no non-market loans, and no director-specific perquisites or tax gross-ups reported. Monitoring focus areas: ongoing fintech leadership outside the Company (vendor or partnership interactions) and continued compliance with ownership guidelines.