Sherry Commons
About Sherry Commons
Sherry Commons, age 53, was appointed Chief Accounting Officer of Farmers National Banc Corp. effective May 2, 2025, after serving as Controller beginning in March 2025; she previously served as Controller at Premier Bank and holds an accounting degree from Youngstown State University with 23+ years of banking experience . Her current compensation includes a $185,000 base salary (subject to annual review) and eligibility for the Company’s annual incentive program at a 25% target of base salary, plus broad-based employee benefits . Company-wide executive incentive metrics emphasize EPS (adjusted), ROAA, and pre-tax pre-provision net income to align pay with performance; anti-hedging and anti-pledging policies and ownership guidelines require other executive officers to hold stock equal to 1x annual base salary within a defined compliance period .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Farmers National Banc Corp. | Chief Accounting Officer | May 2, 2025 – Present | Appointed to support the Company’s financial excellence per CFO commentary |
| Farmers National Banc Corp. | Controller | March 2025 – May 2, 2025 | Transitional role ahead of CAO appointment |
| Premier Bank | Controller | Prior to March 2025 (specific dates not disclosed) | 23+ years banking experience; senior finance leadership |
External Roles
No external public-company directorships or committee roles were disclosed in the Company’s 2025 proxy or the 2025 appointment 8-K .
Fixed Compensation
| Component | 2025 Value | Notes |
|---|---|---|
| Base Salary | $185,000 | Subject to annual review |
| Target Annual Bonus (%) | 25% of base salary | Eligible under Company’s annual incentive program |
| Benefits | Broad-based employee benefit plans (medical, dental, disability, retiree health, term life) | Standard employee programs |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Incentive Program (AIP) | EPS (adjusted), ROAA, Pre-tax Pre-provision Net Income (company-wide executive metrics) | Not disclosed for Commons | Not disclosed for Commons | Not disclosed for Commons | Target opportunity = 25% of base salary | Annual cash; payout mechanics follow Company AIP |
Company-wide AIP structure sets thresholds at 50% of target, target at 100%, and maximum at 150% based on objective metrics with interpolation; executives may also have a subjective component depending on role, though none is disclosed specifically for Commons .
Equity Ownership & Alignment
| Item | Detail | Policy/Status |
|---|---|---|
| Stock Ownership Guidelines | Other Executive Officers: 1.0x annual base salary | Compliance expected within seven years from inclusion in long-term incentive plans, with progress milestones |
| Anti-Hedging | Hedging transactions prohibited for executive officers/directors | Policy in force |
| Anti-Pledging | Pledging or margin purchases prohibited | Policy in force |
| Options Outstanding | Company disclosed no stock options outstanding among directors/NEOs as of March 4, 2025 | Commons not listed; individual option status not disclosed |
| Beneficial Ownership (shares) | Not disclosed for Commons in 2025 proxy beneficial ownership table | Individual holdings not disclosed |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment Date | Effective May 2, 2025 | 8-K Item 5.02 |
| Role | Chief Accounting Officer (reports to CFO) | 8-K/Press Release |
| Compensation | Base salary $185,000; AIP target 25% of base; eligible for broad-based benefits | 8-K Item 5.02 |
| Change-in-Control (CIC) | Company maintains double-trigger CIC agreements for executive officers/NEOs with salary and bonus multiples, COBRA premium payments, and outplacement; cut-back/best-net-effect for 280G | Agreement applicability to Commons not specifically disclosed |
| Separation Policy | Executive Separation Policy for NEOs includes lump-sum salary multiple (36 months for CEO; 18 months for specified NEOs), pro-rata bonus at target, COBRA multiples, and outplacement upon termination without Cause or with Good Reason | Applicability to Commons not specifically disclosed |
| M&A Severance (general employees) | For employees without written agreements terminated within six months of Effective Time: 2 weeks of base pay per full year of service (min 4 weeks, max 26), PTO payout, and pro-rated bonus if applicable | Applies to “Covered Employees” defined in merger agreement |
| Award Acceleration on Merger | Company Restricted Shares fully earned and vested immediately prior to Effective Time; performance-based goals deemed achieved at maximum | Applies to outstanding awards under Company Stock Plans |
Investment Implications
- Alignment: Commons’ cash-heavy package (base $185k; AIP 25%) with Company-level EPS/ROAA/PTPPNI metrics indicates pay linkage to financial performance; stock ownership guidelines and anti-hedging/pledging strengthen alignment and lower governance risk .
- Retention and CIC: The Company uses double-trigger CIC agreements and an Executive Separation Policy for NEOs; Commons’ specific agreements are not disclosed, but these frameworks generally reduce flight risk and encourage objective evaluation of strategic transactions .
- Vesting/Selling Pressure: Merger terms stipulate immediate vesting of Restricted Shares at maximum performance prior to Effective Time; if Commons holds restricted equity, this could create near-term liquidity and potential selling pressure upon closing, though her individual grants are not disclosed .
- Ownership Transparency: Commons is not listed in the 2025 proxy ownership table; absence of disclosed holdings limits precision on skin-in-the-game analysis and time-to-compliance with ownership guidelines; monitor future proxies and Form 4 filings post-appointment .
- Track Record: Background includes 23+ years in banking and Controller roles at Premier Bank and Farmers, suggesting deep technical accounting expertise; specific project outcomes, TSR or revenue/EBITDA contributions during her brief tenure are not disclosed and should be tracked through subsequent filings .