Billie Dollins
About Billie Dollins
Billie J. Dollins is Executive Vice President of Community Trust Bancorp, Inc. and President of the Central Kentucky Region of Community Trust Bank, Inc., appointed January 3, 2023; age 64 as of February 28, 2025 . She previously led CTB’s Versailles Market and has 42 years of banking experience, with 13 years at CTBI as of August 2023 . Company performance context during her tenure: CTBI delivered 2024 net income of $82.8 million, EPS of $4.61, and a 5-year TSR value of $125.93 on $100 invested since 12/31/2019; peer group TSR was $121.20 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Community Trust Bank, Inc. | President, Versailles Market | Not disclosed; held prior to 1/3/2023 | Local market leadership; predecessor to Central Kentucky Region presidency |
| Community Trust Bancorp, Inc. | Various roles culminating in EVP | 13 years at CTBI as of Aug 2023 | Long-tenured operator across CTBI footprint |
External Roles
No external public-company directorships or committee roles are disclosed for Dollins in CTBI’s filings cited here .
Fixed Compensation
Individual base salary and bonus amounts for Dollins are not itemized in the proxy (NEO-only disclosure). As an executive officer, she participates in CTBI’s senior management incentive framework with defined ranges tied to performance.
| Component | Plan Eligibility | 2024 Plan Terms (Executive Officers) | 2025 Plan Terms (Executive Officers) |
|---|---|---|---|
| Annual cash incentive | Executive officers (Group I) | Award grid tied to ROAA and EPS; payout ranges 15%–60% of salary at min/base/tiers | Award grid tied to ROAA and EPS; payout ranges 15%–60% of salary at min/base/tiers |
| Equity incentives (options/restricted stock) | Executive officers (Group I) | Restricted stock under Incentive Plan vests 25% annually over 4 years | Stock options and/or restricted stock; options face value 7.5%–17.25% of salary with performance gates |
Performance Compensation
Annual and long-term incentives are explicitly tied to company performance metrics with defined vesting and payout mechanics.
| Metric | 2024 Base Target | 2024 Actual | 2025 Base Target | Payout/Mechanics |
|---|---|---|---|---|
| ROAA | 1.36% | 1.41% | 1.44% | Annual cash and equity awards scale vs. targets; exec officer cash payout 15%–60% of salary across tiers |
| EPS | $4.40 | $4.61 | $4.96 | Annual cash and equity awards scale vs. targets; restricted stock vests ratably over 4 years |
| Net Income (LTIP) | 2022–2024 target $238M; achieved $242.6M | Achieved (context for LTIP) | 2025–2027 target $283.0M | Performance units (cash) for execs: 20% of salary at target; 10%–30% range CEO/execs; paid after 3 years |
Notes:
- 2024 annual incentives for NEOs were paid at base level due to accrual rules; Dollins’ specific payout is not disclosed individually .
- Change-in-control is double-trigger for award acceleration under the 2025 Plan .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 9,492 shares; less than 1% of shares outstanding |
| Breakdown | Includes 5,951 restricted shares and 2,534 ESOP shares (Dollins has voting power on ESOP) |
| Stock options | No stock options outstanding at 12/31/2024 for NEOs; option grants may occur under 2025 Plan (no Dollins-specific options disclosed) |
| Hedging/pledging | Executives prohibited from hedging and from pledging a “significant” amount (lesser of 1% of outstanding or 50% of owned securities) |
| Ownership guidelines | Not disclosed for executives (director pay mix updated for 2025; equity awards subject to shareholder approval) |
Employment Terms
| Term | Provision |
|---|---|
| Employment agreement | CTBI does not provide employment agreements to executives |
| Severance agreements | In force for executive officers; term equals the longer of 3 years or the covered period, auto-renewable for 1-year periods |
| Change-in-control definition | 30%+ voting power acquisition, board turnover, tender/exchange offers, asset sale, or liquidation/dissolution (per severance agreements) |
| Severance multiple | 2.99x base salary if involuntary termination or voluntary termination with duties change post-CIC; 2.00x if voluntary termination without duties change post-CIC |
| Equity acceleration (CIC) | Double-trigger acceleration for options/SARs/restricted stock; performance units payable per greater-of formula after CIC termination events |
| Clawbacks/recoupment | Nasdaq-mandated clawback policy adopted Dec 1, 2023; executive committee recoupment for restatement due to fraud/dishonesty/recklessness |
| Non-compete/non-solicit | Not disclosed in cited filings |
Recent Insider Activity
| Year | Filing | Activity | Amount | Notes |
|---|---|---|---|---|
| 2023 | Form 5 (filed Jan 11, 2024) | ESOP acquisition (exempt) | 2,089.8712 shares | Price range $46.46–$33.74 per share; plan statement as of 12/31/2023 |
| 2024 | Form 5 (filed Jan 8, 2025) | ESOP acquisition (exempt) | 2,432.0203 shares | Price range $59.24–$39.28 per share; plan statement as of 12/31/2024 |
Section 16 compliance note: 2024 late filings cited for Newsom and Stumbo; no late filings noted for Dollins .
Investment Implications
- Pay-for-performance alignment: Dollins’ incentive opportunity is explicitly tied to ROAA/EPS annually and to cumulative net income over multi-year periods, with equity vesting over four years and double-trigger CIC protections—supporting performance linkage and retention without single-trigger windfalls .
- Ownership and selling pressure: She holds 9,492 shares including 5,951 restricted and ESOP holdings; the standard four-year ratable vest schedule suggests periodic vest releases, but recent filings show ESOP accumulation rather than disposals, limiting near-term selling pressure signals .
- Risk controls: Prohibitions on hedging/pledging of significant amounts and robust clawback policies reduce misalignment and misconduct risk; severance agreements provide stability through potential consolidation cycles, though the 2.99x multiple represents typical community bank CIC economics .
- Governance and say-on-pay: CTBI’s say-on-pay support of ~95% in 2024 and defined compensation committee practices indicate shareholder acceptance of the pay framework applied to executives like Dollins, lowering external compensation risk signals .