Kory Schneider
About Kory Schneider
Kory J. Schneider is Vice President, Member Experience at East Wisconsin Savings Bank (a subsidiary of EWSB Bancorp), a role he has held since August 2018; he was age 52 as of December 31, 2024 . EWSB Bancorp completed its IPO in September 2024, limiting publicly disclosed long-run TSR and multi-year public-market performance metrics at this stage . Current disclosures emphasize conservative cash compensation with no annual bonus payouts for 2023–2024 and no equity option grants in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| East Wisconsin Savings Bank | Vice President, Member Experience | Since Aug 2018 | Leads member experience function; executive officer of the Bank |
Fixed Compensation
| Metric (USD) | 2023 | 2024 | As of Apr 2025 |
|---|---|---|---|
| Base Salary | $175,000 | $175,000 | $175,000 (employment agreement base as of Apr 2025) |
| Annual Bonus Paid | — | — | — |
| All Other Compensation | $8,797 | $8,898 | — |
| Total Compensation | $183,797 | $183,898 | — |
All Other Compensation breakdown (2024):
- 401(k) employer contribution: $8,750
- Life insurance: $148
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual (2023) | Actual (2024) | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|---|
| Annual Cash Incentive | Not disclosed; executives “participate in any bonus programs” | Not disclosed | Not disclosed | $0 | $0 | Not disclosed | N/A |
| Long-Term Equity (Options) | N/A | N/A | N/A | N/A | No options granted in 2024 | — | — |
The proxy notes participation in bonus programs but does not disclose metrics or targets; no annual bonus was paid for 2023 or 2024, and the company did not grant stock options in 2024 .
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Beneficial Ownership (shares) | 48,900 shares |
| Ownership (% of common outstanding) | 6.50% (based on 752,538 shares outstanding at Apr 2, 2025) |
| Sole Voting/Dispositive Power | 38,900 shares |
| Shared Voting/Dispositive Power | 10,000 shares (with spouse) |
| Options/RSUs Outstanding | Not disclosed; no option grants in 2024 |
Trading, Hedging, and Pledging Policies (Company-wide):
- Anti-hedging policy: prohibits directors, officers, and employees from engaging in options/derivatives or similar hedging transactions on Company stock .
- Pledging: generally prohibited for directors and certain executive officers; Board may grant exceptions for third‑party loans if the borrower demonstrates capacity—no such exception has been approved to date .
- Pre‑clearance and blackout: directors and executive officers must pre‑clear trades; quarterly and event-driven blackout periods restrict trading windows; Rule 10b5‑1 plans require pre‑clearance and public disclosure of material terms in SEC filings .
Employment Terms
| Term | Details |
|---|---|
| Current Title | Vice President, Member Experience |
| Base Salary (as of Apr 2025) | $175,000 |
| Employment Agreement Term | Following IPO, initial term ran through Dec 31, 2024; from Jan 1, 2025, Schneider’s term is two years, with annual extensions each Jan 1 subject to disinterested Board review and approval . If a change in control occurs during the term, the agreement automatically renews for two years from the CIC date . |
| Non‑CIC Severance | If involuntarily terminated without cause or resigns for “good reason” (outside CIC), lump sum equal to: (i) base salary and bonuses for the remaining term; (ii) present value of defined contribution plan contributions for the remaining term; and (iii) continued medical/dental and life coverage at no cost for the remaining term . |
| CIC Severance (within 18 months post‑CIC) | If terminated without cause or resigns for “good reason” within 18 months post‑CIC: lump sum equal to two times the sum of (a) highest annual base salary under the agreement and (b) highest bonus paid with respect to the two completed fiscal years prior to CIC; plus PV of DC plan contributions for 24 months; plus continued medical/dental and life insurance for 24 months; potential 280G cutback applies . |
| Disability/Death | If disabled: Bank fills gap between disability benefits (including Social Security) and base salary for the longer of 1 year post‑termination or remaining term; continued medical/dental coverage as outlined . If death: beneficiaries receive one year of base salary and 12 months of family medical/dental coverage . |
| Restrictive Covenants | Non‑solicitation: 1 year; Non‑competition: 6 months (post‑termination, other than CIC context) . |
| Benefits & Expenses | Participation in bonus programs and benefit plans; reimbursement of reasonable business expenses . |
Related Party Transactions (banking relationships):
- Loans to directors and executive officers were in ordinary course, on substantially the same terms as comparable non‑related party loans, involved no more than normal risk and had no unfavorable features as of Dec 31, 2024; all performing and compliant with federal banking regulations .
Compensation Structure Analysis
- Cash-heavy, low variable pay: Base salary flat at $175,000 in 2023–2024; no annual bonuses paid in either year, indicating limited near‑term pay-for-performance payouts .
- No option grants in 2024: Company states it has not historically granted stock options and made no option grants in 2024; RSU/PSU usage not disclosed, implying limited equity incentive flow-through/vesting over the near term .
- Strong direct alignment via ownership: 6.50% beneficial ownership (48,900 shares) provides material alignment with shareholders, including 38,900 shares under sole power and 10,000 shared with spouse .
- CIC protection moderate for a non‑CEO: Two times salary+highest bonus construct, plus 24 months of benefits and DC contribution PV, supports retention but is not overly dilutive; non‑CIC severance tied to remaining term limits windfall risk .
Investment Implications
- Alignment: Schneider’s significant 6.50% stake creates strong economic alignment and potential sensitivity to stock performance, despite lack of disclosed equity award programs or option overhang in 2024 .
- Selling pressure windows appear controlled: Pre‑clearance, quarterly blackout periods, anti‑hedging, and general anti‑pledging policies reduce opportunistic or forced sales; the Board has approved no pledging exceptions to date. Monitor any pre‑cleared 10b5‑1 plans (disclosed with material terms) for structured selling cadence .
- Retention and change‑in‑control dynamics: Two‑year rolling term with non‑CIC severance tied to remaining term and a 2x CIC multiple (plus benefits) for Schneider is retention-supportive but not excessive, balancing continuity with shareholder interests. Non‑compete (6 months) and non‑solicit (1 year) protect franchise post‑departure .
- Pay-for-performance signal: Absence of bonus payouts for 2023–2024 and lack of option grants in 2024 underscore a conservative compensation posture; given limited public trading history post‑IPO, focus near-term on operational KPIs once disclosed and any evolution toward performance‑linked incentives in future proxies .