Dodie F. Gervais
About Dodie F. Gervais
Dodie F. Gervais is Vice President of Lending at Fifth District Savings Bank (subsidiary of Fifth District Bancorp, Inc.), a role she has held since 2017. She joined the institution in 1987 and has served in branch operations, branch management, human resources, administration, and lending; she also serves on the Asset/Liability Committee. As of the company’s latest annual report, she was 54 and an executive officer of the bank (not a director). Company performance during the most recent fiscal year included a FY2024 net loss of $1.078 million, following FY2023 net income of $0.797 million .
Company performance snapshot:
| Metric (USD) | FY 2023 | FY 2024 |
|---|---|---|
| Revenues | $424,000* | -$602,000* |
| Net Income | $797,000* | -$1,078,000 |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Fifth District Savings Bank | Vice President of Lending | 2017–Present | Oversees lending; member of Asset/Liability Committee |
| Fifth District Savings Bank | Various roles (branch operations/management, HR, administration, lending) | 1987–2017 | Institutional knowledge across core functions; operational continuity |
External Roles
No public-company external directorships are noted in her executive officer biographies in the S-1 and 10-K filings reviewed .
Fixed Compensation
Gervais is not identified as a named executive officer (NEO) in the company’s executive compensation disclosures (2023 NEOs were CEO North, SVP Lyons, and CFO Burns). Accordingly, no specific base salary, target bonus, or perquisite detail for Gervais is disclosed in public filings reviewed .
Performance Compensation
There are no individual, executive-specific annual or long-term incentive metrics disclosed for Gervais. However, the shareholder-approved 2025 Equity Incentive Plan authorizes grants of restricted stock, RSUs, and stock options (NQSOs/ISOs) with performance goals established by the Compensation Committee, a minimum one-year vesting requirement (with limited exceptions), double-trigger change-in-control vesting (or acceleration if awards are not assumed), and prohibition on option repricing or below-market grants. Dividends/dividend equivalents are only paid upon vesting/settlement, and awards are subject to clawback under Dodd-Frank Section 954 and company policies, including hedging/pledging restrictions .
Plan mechanics (relevant to any future awards to Gervais):
- Eligible participants include employees and non-employee directors; approximately 70 employees eligible as of July 25, 2025 .
- Minimum one-year vesting; double-trigger vesting at change-in-control if combined with involuntary termination/good reason or if awards are not assumed; performance awards default to payout at target or actual through last completed quarter upon trigger .
- Option exercise windows: generally 90 days post-termination for vested options; 1 year on death/disability/retirement or involuntary termination at or following change-in-control, subject to original term .
- Forms of Restricted Stock and Non-Qualified Option Award Agreements consistent with plan terms were filed, documenting vesting and acceleration features .
Equity Ownership & Alignment
| Date/Source | Direct/Plan Holdings | ESOP | Options/RSUs | Total Beneficial Ownership | % of Outstanding | Notes |
|---|---|---|---|---|---|---|
| Pre-IPO intent (S-1/A) | 25,000 shares intended purchase | — | — | 25,000 | — | Intended subscription at $10.00 per share ($250,000) during conversion offering |
| 07/31/2024 (Form 3) | 25,000 (indirect via 401(k) plan) | — | None reported (Table II blank) | 25,000 | — | Initial statement of beneficial ownership as officer of lending subsidiary |
| 03/21/2025 (10-K) | 25,000 (401(k)) | 834 | Not disclosed | 25,834 | 0.46% | As of record date; business address at bank HQ |
| 07/25/2025 (DEF 14A) | 25,000 (401(k)) | 834 | Not disclosed | 25,834 | <1% | DEF 14A beneficial ownership table; no pledging noted for named individuals |
Additional alignment/controls:
- Pledging/Hedging: Plan and policy restrict hedging/pledging, and DEF 14A notes none of the named individuals had pledged shares as of July 25, 2025 .
- Ownership guidelines: No specific executive stock ownership guideline disclosures were identified for Gervais in reviewed filings .
Employment Terms
- Individual employment agreement: The S-1 discloses employment agreements for CEO North and Mses. Lyons and Burns; no employment agreement is disclosed for Gervais in the filings reviewed .
- Change-in-control and severance economics (equity only): Under the 2025 Equity Plan, time-based awards vest on a double trigger at change-in-control (CIC) with involuntary termination/good reason or if awards are not assumed; performance awards vest at the greater of target or actual through the most recent completed quarter on such triggers .
- Option post-termination exercise: Generally 90 days post-termination for vested options; one year on death/disability/retirement (subject to award term) or involuntary termination at/following CIC .
- Clawback: Plan-level awards subject to Dodd-Frank Section 954 clawback and company policy .
Investment Implications
- Alignment and selling pressure: Gervais holds a meaningful personal stake primarily via the 401(k) and ESOP totaling 25,834 shares (0.46% of outstanding) with no pledging noted; absence of options and the plan’s minimum one-year vesting suggest limited near-term forced selling pressure from expiring options, though future equity awards under the 2025 plan could introduce scheduled vesting events over time .
- Retention: Unlike the CEO, SVP, and CFO (who have employment agreements), no individual employment agreement is disclosed for Gervais; retention levers appear to be plan-level equity and benefits rather than contract-based severance/CIC protections, which could imply relatively less contractual retention protection versus NEO peers .
- Governance and controls: The 2025 Equity Plan embeds shareholder-friendly features (minimum vesting, double-trigger CIC, anti-repricing, dividend deferral until vesting, clawback, hedging/pledging restrictions), which ties any future equity to longer-term performance and reduces risk of windfalls or misaligned liquidity events .
Notes on Shareholder Votes and Plan Approval
- Shareholders approved the 2025 Equity Incentive Plan on September 15, 2025 (3,210,537 For; 145,624 Against; 68,680 Abstain; 841,384 broker non-votes), enabling ongoing equity-based compensation for eligible employees such as Gervais .