Judson Riggs
About Judson T. Riggs
Judson T. Riggs, age 70, has served as an independent director of Five Star Bancorp since 2019. He is Chief Executive Officer (since 2003) and Chair (since 2010) of Teichert Inc., and chairs FSBC’s Compensation Committee; the board has determined he meets Nasdaq/SEC independence standards . He also serves on boards including Teichert Inc., Greater Sacramento Economic Council, the Host Committee, UC Davis GSM Dean’s Advisory Council, and Juvenile Justice Chaplaincy, and is Vice Chair and Finance Committee Chair at PRIDE Industries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Teichert Inc. | Chief Executive Officer | 2003–present | Executive leadership |
| Teichert Inc. | Chair | 2010–present | Board leadership |
| Five Star Bancorp (FSBC) | Director | 2019–present | Compensation Committee Chair |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Teichert Inc. | Director | Not disclosed | Board service |
| Greater Sacramento Economic Council | Director | Not disclosed | Regional economic development |
| Host Committee (Sacramento) | Director | Not disclosed | Community engagement |
| UC Davis GSM Dean’s Advisory Council | Member | Not disclosed | Advisory/academic engagement |
| Juvenile Justice Chaplaincy | Director | Not disclosed | Community service |
| PRIDE Industries | Vice Chair; Finance Committee Chair | Not disclosed | Finance oversight |
Board Governance
- Committee assignments: Compensation Committee Chair; members Donna L. Lucas and Kevin F. Ramos—the committee held four regular quarterly meetings in 2024; all three members are independent under Nasdaq/SEC rules .
- Board activity/attendance: The board met eight times in 2024; every director attended at least 75% of board/committee meetings except Shannon Deary‑Bell (73%). All 11 directors attended the 2024 annual meeting of shareholders .
| Committee | Role | 2024 Meetings | Independence Status |
|---|---|---|---|
| Compensation | Chair | 4 | Independent (Nasdaq/SEC) |
Fixed Compensation
| Year | Fees Earned – Cash ($) | Stock Awards ($; grant-date fair value) | Total ($) |
|---|---|---|---|
| 2024 | 49,250 | 35,987 | 85,237 |
- Director pay structure (monthly): Base cash retainer $3,000; committee participation $500; chair fees—Board Chair $3,000; Audit Chair $1,250; Loan Chair $1,000; Compensation Chair $625; Governance & Nominating Chair $625; ALCO Chair $625 .
Performance Compensation
| Award Type | Vesting | Performance Metrics |
|---|---|---|
| Director stock awards (RSAs) | 2024 grants vest “cliff” at year-end for service in current year | No director performance metrics disclosed for 2024; company did not grant stock options or option-like awards in 2024 |
Equity grant processes: FSBC did not grant stock options or SARs in 2024 and has no timing policy for such instruments; if used later, the board expects to evaluate appropriate steps. The company states it has not timed MNPI disclosure to affect compensation values .
Other Directorships & Interlocks
| Organization | Role | Interlock/Notes |
|---|---|---|
| Teichert Inc. | Director | FSBC director Larry E. Allbaugh serves on Teichert’s board and chairs its Audit Committee—creates a board-level interlock between FSBC and Teichert |
| PRIDE Industries | Vice Chair; Finance Chair | No FSBC interlocks disclosed |
| Greater Sacramento Economic Council; Host Committee; UC Davis GSM Dean’s Advisory Council; Juvenile Justice Chaplaincy | Director/Member | No FSBC interlocks disclosed |
Expertise & Qualifications
- Long-tenured CEO and Chair of a large construction/engineering enterprise (Teichert), bringing operational, finance, and compensation oversight experience to FSBC’s board .
- Governance experience across corporate, economic development, and nonprofit boards; finance committee leadership at PRIDE Industries .
Equity Ownership
| As-of Date | Shares Beneficially Owned | % of Outstanding | Ownership Form | Unvested RSAs Included | Pledged Shares |
|---|---|---|---|---|---|
| March 21, 2025 | 84,216 | “*” <1% | Revocable trust; Mr. Riggs as trustee; address 3500 American River Dr., Sacramento, CA 95864 | 1,165 shares not vesting within 60 days are included for directors per footnote (2) | None disclosed for Mr. Riggs; company policy prohibits pledging absent board approval |
Insider trading/hedging: FSBC prohibits hedging or short sales; pledging and margin accounts are prohibited unless an exception is approved by the board .
Governance Assessment
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Strengths
- Independent director and Compensation Committee Chair with deep CEO-level operational experience; committee met quarterly in 2024 and has authority to retain independent advisors—supports rigorous pay governance .
- Attendance: Met the company’s 75% attendance threshold in 2024 (only one director fell below 75%); full-board annual meeting attendance—positive engagement signal .
- Ownership alignment: Holds 84,216 FSBC shares (<1%); director equity grants vest annually for service; company prohibits hedging/pledging, reinforcing alignment .
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Watch items / potential conflicts
- Ordinary-course related-party credit: FSBC had ~$14.5 million of loans outstanding to directors/executives/principal shareholders and affiliates as of 12/31/2024 (all on market terms; none nonaccrual/past due)—monitor for credit concentration and governance optics, even if standard for community banks .
- Board-affiliate capital instruments: $19.3 million of FSBC’s 2022 $75.0 million subordinated notes were purchased by existing/former directors and affiliates—can signal alignment but also potential conflict considerations in capital decisions .
- Interlocks: Teichert board connection via FSBC director Larry Allbaugh (Teichert Audit Chair) overlaps with Riggs’s leadership at Teichert—assess for any bank-client/vendor ties that could create related-party exposure, though FSBC states related transactions are on market terms .
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Compensation mix signal
- 2024 director pay for Riggs: $49,250 cash vs $35,987 equity (total $85,237), with modest equity component and service-based vesting—typical for director alignment without short-term performance risk .
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Additional board context
- Audit oversight is strong (12 regular and 5 special Audit Committee meetings in 2024; pre-approval framework and independence monitoring of Moss Adams), though Riggs does not sit on Audit .
Overall: Riggs presents as an experienced, independent compensation leader with solid attendance and ownership alignment. Maintain monitoring on ordinary-course related-party lending, subordinated note holdings by board-affiliated entities, and the Teichert interlock for any evolving related-party transactions or perceived conflicts .