Kevin Gremer
FULTON FINANCIALAbout Kevin Gremer
Kevin C. Gremer, age 58, was appointed Senior Executive Vice President and Chief Operations and Technology Officer of Fulton Bank, effective August 25, 2025; he reports to Chairman and CEO Curt Myers and leads information technology and operations to drive Fulton’s digital customer experience . He brings 27+ years of financial services leadership, including senior roles at City National Bank (RBC) and Capital One; he holds a BS in Accounting (Penn State), an MBA (Duke Fuqua), and a professional banking certification from LSU Graduate School of Banking/Virginia Bankers Association . Fulton Financial Corporation is a >$32 billion financial services holding company, providing context for the scale of his remit . Performance metrics during his tenure are not yet disclosed in filings we reviewed; his compensation design ties incentives to company plans (annual cash and equity LTI eligibility) and includes a guaranteed minimum 2025 cash incentive .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| City National Bank (RBC) | SVP, Head of Operations – Banking & Investment Services | 2022–2025 | Led B&IS operations, senior executive role at U.S. subsidiary of RBC |
| Capital One Financial Corporation | SVP, Head of Strategic Transformation – Commercial Bank | 2020–2022 | Led transformation initiatives across Commercial Bank |
| Capital One Financial Corporation | SVP, Head of Enterprise Payments & Treasury Operations – Commercial Operations | 2018–2019 | Led enterprise payments and treasury operations |
| Capital One Financial Corporation | Multiple progressive management roles | ~20+ years | Progressive leadership culminating in multiple SVP roles |
External Roles
| Institution | Program/Degree | Years | Notes |
|---|---|---|---|
| Pennsylvania State University | BS in Accounting | Not disclosed | Undergraduate degree |
| Duke University Fuqua School of Business | MBA | Not disclosed | Graduate degree |
| LSU Graduate School of Banking (with Virginia Bankers Association) | Professional banking certification | Not disclosed | Industry credential |
Fixed Compensation
| Component | Detail | Effective/Pay Date |
|---|---|---|
| Base Salary | $460,000 annual base salary, reviewed annually | Effective upon employment (Aug 25, 2025) |
| Signing Bonus | $125,000 cash; must be repaid in full if voluntary departure within 12 months of payment | Paid at appointment; clawback if voluntary separation within 12 months |
| 2025 Minimum Cash Incentive | Not less than $230,000 payable April 2026 | Performance year 2025; payable April 2026 |
| Perquisites & Benefits | Participation in retirement, welfare, life insurance, and other benefit programs; general executive perquisites as approved (e.g., automobile allowance) | Per agreement |
Performance Compensation
| Incentive Type | Metric/Design | Weighting | Target | Actual/Payout | Vesting/Payment |
|---|---|---|---|---|---|
| Annual Cash Incentive (2025) | Eligible under Fulton's annual cash incentive plan; guaranteed minimum payout for 2025 | Not disclosed | 50% of base salary target eligibility | Minimum $230,000 for 2025; payable April 2026 | Cash, April 2026 |
| Long-Term Incentive (LTI) Eligibility | Eligible under equity-based LTI plan | Not disclosed | 75% of base salary target eligibility | Not disclosed | Per plan/award agreements |
| One-time RSU Grant | RSUs equivalent to $150,000 at grant date | N/A | N/A | $150,000 grant-date value | Ratable vesting over three years from grant date |
Notes:
- Equity award treatment on change in control governed by applicable plan/award agreements; if silent, time-based awards accelerate and performance-based awards vest per award terms .
- Fulton’s enterprise scorecard methodology and metrics are disclosed for 2024 but not specific to Mr. Gremer’s 2025 targets; his eligibility aligns to those frameworks going forward .
Equity Ownership & Alignment
- Beneficial ownership: Not disclosed in 2025 proxy (appointment announced July 23, 2025, after the March 3, 2025 record date) .
- Outstanding awards at hire: One-time RSU grant valued at $150,000; 3-year ratable vesting; number of shares determined at grant date (not disclosed in 8-K) .
- Stock ownership guidelines: Executive officers must hold Fulton common stock multiples of salary (CEO 6x, President 3x, CFO 3x, other NEOs 2x) with compliance within five years; hedging and pledging are prohibited (no margin accounts/pledging) .
- Pledged shares: Fulton policy prohibits pledging and hedging for executive officers .
- Loans: Fulton Bank extended certain loans to Mr. Gremer prior to employment on ordinary-course terms; no unfavorable features disclosed .
Employment Terms
| Term | Detail |
|---|---|
| Start Date | Effective August 25, 2025 |
| Agreement Term & Expiration | Continues until termination events; expires on December 31 of the year he attains age 65 if not earlier terminated; post-expiration only entitled to benefits commenced prior to expiration |
| Severance (non-CIC) | If terminated without Cause or resigns for Good Reason: 12 months base salary; vested but unpaid bonus; pro-rated target cash bonus for year of termination; continued eligibility or cost of health/welfare benefits for 12 months; subject to release; not payable if CIC severance is received |
| Change-in-Control (CIC) | Double-trigger: If termination without Cause or Good Reason within 90 days before or 24 months after a CIC—cash severance equal to 2x (base salary + highest cash bonus in past three years); equity awards per plan/agreements (time-based accelerate if plan silent; performance-based per award terms); eligibility for unvested employer contributions to retirement plans, up to $10,000 outplacement; life/medical/health/accident/disability insurance continuation for up to 24 months; payment equal to two additional years of retirement plan contributions/accruals |
| Restrictive Covenants | Perpetual confidentiality; non-compete and customer/employee non-solicit for one year post-termination (non-compete inapplicable if termination for Good Reason or by Bank other than for Cause) |
| Clawbacks | Subject to Fulton’s clawback policies for performance-based compensation and mandatory recovery upon restatement; policies cover executive officers and performance-based awards |
Investment Implications
- Retention and alignment: The guaranteed 2025 cash incentive ($230,000), $125,000 signing bonus with 12-month clawback on voluntary departure, and 3-year ratable RSU vesting create near-term retention incentives and staggered vesting that reduce immediate selling pressure; prohibitions on hedging/pledging strengthen alignment .
- Change-in-control economics: Double-trigger CIC severance at 2x salary+highest bonus plus benefits continuation and equity treatment indicates competitive protection without single-trigger acceleration, balancing retention with shareholder-friendly guardrails .
- Governance and risk controls: One-year non-compete/non-solicit and robust clawback frameworks mitigate conduct/compensation risk and align with pay-for-performance policies; equity acceleration limited to time-based awards when plan terms are silent .
- Execution signals: Track record in operations, payments, and strategic transformation at large banks (RBC’s City National and Capital One) aligns with Fulton’s digital and operational priorities; success will hinge on delivering technology-driven efficiency and customer experience in a highly regulated environment—scope underscored by Fulton’s $32B platform .