Julie Mussog
About Julie Mussog
Independent director of Glen Burnie Bancorp since 2019; age 50 as of the 2025 record date. A Certified Public Accountant with a BBA and MBA from the University of Michigan Ross School of Business, she serves as CFO of the Metropolitan Washington Council of Governments (since Oct 2019), and is designated by the Board as the company’s “audit committee financial expert.” Her current term (Class expiring 2025) is up for re‑election to a new term expiring in 2028 .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Metropolitan Washington Council of Governments | Chief Financial Officer | Oct 2019–present | Independent, nonprofit association serving 24 local governments and legislatures . |
| MuniCap, Inc. | Senior Vice President | Feb 2019–Oct 2019 | Public finance consulting firm in Columbia, MD . |
| Anne Arundel Economic Development Corporation | President & CEO | Nov 2016–Feb 2019 | Led county economic development initiatives . |
| Anne Arundel County | Controller | 2013–Nov 2016 | County financial management . |
External Roles
| Organization | Role | Type | Start Date | Notes |
|---|---|---|---|---|
| Metropolitan Washington Council of Governments | CFO | Nonprofit/Association | Oct 2019 | 300 elected officials from 24 local governments; regional governance focus . |
| Junior League of Annapolis; Anne Arundel Community College Foundation; Baltimore Washington Medical Center | Civic/Board involvement | Nonprofit | n/a | Community and civic engagement listed in biography . |
| The Bank of Glen Burnie; GBB Property Holdings, LLC; GBB Properties, Inc. | Director (subsidiaries) | Subsidiaries | n/a | All GLBZ directors concurrently serve on these boards . |
| Other public company boards | None disclosed | n/a | n/a | No other public company directorships are disclosed in the proxy . |
Board Governance
| Committee | Role | Independence | Meetings in 2024 | Notes |
|---|---|---|---|---|
| Audit Committee | Chair | Independent | 14 | Board designated Mussog as the company’s “audit committee financial expert”; all members meet Nasdaq and SEC independence criteria . |
| Employee Compensation & Benefits (Compensation) | Member | Independent | 3 | Committee covers exec/board compensation; independent advisor ChaseCompGroup engaged in 2024 . |
| Full Board | Director | Independent | 12 | No incumbent directors attended fewer than 75% of board and committee meetings in 2024; all attended the 2024 annual meeting . |
- Independence status: “Yes” (Nasdaq Rule 5605(a)(2)) .
- Nominating function: Independent directors act as nominating committee; two meetings held in 2024 .
- Leadership structure: Chair and CEO roles separated; risk oversight conducted through committees and regular management interactions .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Other Compensation ($) | Total ($) |
|---|---|---|---|
| 2023 | 26,350 | — | 26,350 |
| 2024 | 23,700 | — | 23,700 |
- Fee schedule: $1,250 per combined regular/special board meeting; committee fees add $300 chair fee, $350 Audit Committee chair, $250 Audit Committee member, or $200 member fee per meeting (Mr. Demyan and Mr. Hanna do not receive meeting fees) .
Performance Compensation
| Component | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs/Options) | Company states it does not provide for equity-based compensation; director compensation tables show cash fees only . |
| Performance metrics | Not applicable for directors; no director performance-based plans disclosed . |
| Bonuses | Not disclosed for directors; director compensation presented as fees . |
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock |
|---|---|---|
| The Bank of Glen Burnie; GBB Property Holdings, LLC; GBB Properties, Inc. | All GLBZ directors also serve as directors | Internal subsidiary boards; standard for bank holding company . |
| Public company boards | None disclosed | No public company interlocks identified in proxy . |
Expertise & Qualifications
- Certified Public Accountant; Audit Committee Financial Expert designation by the Board .
- BBA and MBA (Ross School of Business, University of Michigan) .
- Senior financial management across public sector and public finance consulting (CFO, SVP, Controller) .
Equity Ownership
| As of Record Date | Shares Owned | Percent of Outstanding | Shares Outstanding (Record Date) |
|---|---|---|---|
| Mar 20, 2025 | 100 | 0.00% | 2,900,681 |
- Pledged/hedged shares: No pledging/hedging disclosures noted; not mentioned in proxy .
- Ownership guidelines: No director stock ownership guidelines disclosed .
Insider Ownership & Section 16 Compliance
| Period | Mussog Form 4 Filings | Late Filings Noted | Notes |
|---|---|---|---|
| FY2023 | Not specified; no late filing attributed to Mussog | One late filing: 1,000 shares by CEO Hanna | Company states all others timely in 2023 . |
| FY2024 (reported in 2025 proxy) | Not specified; no late filing attributed to Mussog | One late filing: 4,012 shares by director Baldwin | Company states all others timely in latest year . |
Related-Party Transactions & Conflicts
- Loans/transactions with insiders: The bank had ordinary-course transactions with directors, officers, and significant stockholders; internal audit verifies market terms and Regulation O compliance; semiannual reports reviewed by the Board. No Mussog-specific related-party transactions are disclosed .
- Change-in-control severance plan: All employees and Board members are eligible if not party to other agreements; benefits primarily described for executives, not directors. Inclusion of Board members is unusual and could be viewed as an entrenchment risk depending on terms .
Governance Assessment
- Strengths
- Audit leadership and expertise: Mussog chairs the Audit Committee and is the Board’s designated audit committee financial expert—positive for financial reporting quality and internal control oversight .
- Independence and engagement: Classified independent; attended at least 75% of meetings in 2024, with robust Audit Committee activity (14 meetings) .
- Use of independent compensation consultant: Compensation Committee retained ChaseCompGroup; supports pay governance independence .
- Alignment considerations
- Minimal ownership: 100 shares (0.00%); no equity-based director compensation, which may limit long-term alignment through share exposure .
- Potential red flags to monitor
- Board eligibility under change‑in‑control severance plan: Directors are eligible participants; terms for directors are not detailed in the proxy, but inclusion can present perceived entrenchment risk .
- Related‑party exposure: Ordinary‑course insider transactions exist (typical for community banks); controls described, but continued monitoring of Regulation O compliance remains prudent .
- Shareholder oversight context
- Say‑on‑pay advisory vote and frequency: Non‑binding say‑on‑pay on executive compensation and frequency vote scheduled in 2025; Board recommends triennial frequency .