Matthew A. Parker
About Matthew A. Parker
No references to “Matthew A. Parker” appear in First US Bancshares, Inc. (FUSB) 2024–2025 proxy statements’ executive officer lists, director slates, or beneficial ownership tables, nor in 8‑K officer appointment disclosures reviewed; therefore, background (education, age, tenure) and person‑specific performance linkage are not disclosed in company filings reviewed to date . If Mr. Parker holds an internal role, it was not identified as a Section 16 executive officer, named executive officer (NEO), or director in these filings, and no Form 8‑K 5.02 referencing his appointment was found in the period searched .
Company performance context (for pay-versus-performance benchmarking):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($000s) | 6,864 | 8,485 | 8,170 |
| Cumulative TSR: $100 initial value | $83.33 | $101.29 | $126.10 |
2024 Say‑on‑Pay approval: 86% of votes cast in favor .
Past Roles
No company filing disclosures found for “Matthew A. Parker” covering prior roles at FUSB or elsewhere in 2024–2025 proxy/8‑K materials reviewed .
External Roles
No company filing disclosures found for “Matthew A. Parker” holding external directorships or committee roles in 2024–2025 proxy/8‑K materials reviewed .
Fixed Compensation
While Mr. Parker is not disclosed as an NEO, FUSB’s latest proxy details the fixed pay levels for the three NEOs in 2024 (useful for bracketing role-based pay bands at the company):
| Executive (NEO) | 2024 Base Salary ($) |
|---|---|
| James F. House (CEO) | 400,000 |
| Thomas S. Elley (SEVP & CFO) | 273,200 |
| William C. Mitchell (SEVP, Consumer Lending) | 260,200 |
Perquisites include modest items (cell phone, radio subscription), limited club dues for some executives, and company vehicle/allowance; additional long‑term disability coverage was added effective Dec 2024 .
Performance Compensation
FUSB’s 2024 Cash Incentive Program (CIP) used clear, formulaic corporate metrics with a limited discretionary component. For the CEO and CFO, the weighted metrics were consolidated pre‑tax income, pre‑tax ROAA, pre‑tax ROATCE, plus a discretionary component; for the Consumer Lending SEVP, an additional indirect loan growth metric was included .
| Corporate Objective | Threshold | Target | Stretch | Actual 2024 | Weighting (CEO/CFO) | Weighting (Consumer Lending) |
|---|---|---|---|---|---|---|
| Consolidated pre‑tax income ($) | 9,840,000 | 12,300,000 | 14,760,000 | 10,754,000 | 25% | 25% |
| Pre‑tax ROAA (%) | 0.90 | 1.12 | 1.34 | 1.00 | 30% | 30% |
| Pre‑tax ROATCE (%) | 11.56 | 14.45 | 17.34 | 12.33 | 25% | 15% |
| Indirect loan growth ($) | 24,000,000 | 30,000,000 | 36,000,000 | (2,220,000) | — | 15% |
| Discretionary (%) | 80 | 100 | 120 | Approved (see note) | 20% | 20% |
Discretionary determinations: CEO and CFO awarded at 100%; Consumer Lending SEVP at 120%, reflecting reorganization/cost control execution, 2024 TSR improvement, and indirect dealer expansion .
2024 Incentive outcomes (context for payout calibration):
| Executive | Threshold ($) | Target ($) | Stretch ($) | 2024 Incentive Earned ($) |
|---|---|---|---|---|
| James F. House (CEO) | 90,000 | 180,000 | 270,000 | 134,890 |
| Thomas S. Elley (SEVP & CFO) | 47,810 | 95,620 | 143,430 | 71,657 |
| William C. Mitchell (SEVP) | 45,535 | 91,070 | 136,605 | 68,253 |
Clawback: Dodd‑Frank compliant recovery policy adopted Nov 2023, plus program‑level recoupment provisions (restatements, materially inaccurate metrics, or specified misconduct) .
Equity Ownership & Alignment
- Equity grant cadence/vesting: On Feb 9, 2024, time‑based RSUs (restricted stock) were granted to NEOs with 3‑year ratable vesting (CEO 8,200; CFO 4,200; SEVP 4,000) under the 2023 Incentive Plan . Options have not been granted since 2020, but legacy options remain outstanding for some executives .
- Hedging/pledging: Insider Trading Policy prohibits pledging and all hedging/derivative monetization; company states no current directors or executive officers engage in pledging/hedging .
- Director ownership guidelines (not executives): Non‑employee directors must hold ≥400 shares; all were in compliance for 2024 .
Matthew A. Parker does not appear in the 2025 Security Ownership of Certain Beneficial Owners and Management table (as of Mar 12, 2025), indicating he was not a disclosed director/NEO/Section 16 officer for that record date .
Employment Terms
- CEO employment agreement: Rolling 3‑year term; severance equal to greater of 1x base salary or salary remaining in term if terminated without cause/for good reason, plus COBRA reimbursement; change‑in‑control (CIC) severance equal to 299% of §280G “base amount” upon qualifying termination within 6 months post‑CIC; 2‑year non‑compete (1 year if certain reduced CIC severance) .
- Other executives’ CIC agreements: For executives (e.g., CFO, SEVP), upon qualifying termination within 18 months post‑CIC: lump sum 200% of (base salary + target bonus), pro‑rata target bonus, and health continuation reimbursement; 2‑year non‑compete (1 year if voluntary resignation with reduced payout) .
- Equity acceleration on CIC/death/disability/retirement: Unvested restricted stock fully vests; options become fully vested and exercisable upon CIC (committee discretion) and fully vest on death/disability/retirement (plan terms) .
Investment Implications
- Lack of person‑specific disclosure: The absence of “Matthew A. Parker” from executive officer, director, and ownership disclosures suggests he is not a Section 16 officer/NEO/director in the covered periods; therefore, no executive‑specific compensation, vesting schedules, or ownership data are available to assess selling pressure or retention risk for this individual. Monitoring for future Form 3/4/5 filings or 8‑K 5.02 appointments is warranted .
- Compensation structure signals: Company‑wide 2024 incentive design emphasized profitability (pre‑tax income, ROAA, ROATCE) with limited discretion; payouts landed between threshold and target for NEOs, indicating pay‑for‑performance discipline in a year of improving TSR (+24% cumulative value vs 2023 baseline) but modest earnings growth vs 2023 .
- Selling windows/pressure (NEO pattern): Time‑based RSU grants vest annually over three years (grants typically in February), creating predictable 10b5‑1/blackout‑gated windows around those anniversaries for NEOs; legacy options expiring 2026–2030 may also concentrate exercises. If Mr. Parker were later designated as an officer and entered similar programs, comparable patterns could emerge .
- Alignment/downsides: Robust clawback, anti‑hedging/pledging, and a prohibition on option repricings reduce governance red flags; CIC terms are within mid‑market norms for banks of FUSB’s size (2.0x for non‑CEO executives) . 2024 say‑on‑pay support at 86% reduces near‑term compensation controversy risk .
Conclusion: There is no disclosed, investor‑relevant executive intelligence specific to “Matthew A. Parker” in FUSB’s 2024–2025 filings. If he is a newly appointed or non‑Section 16 officer, trading/ownership and pay details are not yet reportable at the SEC‑document level reviewed. For trading and retention signals, focus on future officer designations (8‑K 5.02), insider forms, and alignment with FUSB’s established executive pay framework and policies documented above .