David T. Kirkley
Senior Executive Vice President and Chief Financial Officer at HBCP
Executive
About David T. Kirkley
David T. Kirkley, age 43, serves as Senior Executive Vice President and Chief Financial Officer of Home Bancorp, Inc. and Home Bank, N.A. since November 23, 2020; previously he was Senior Vice President and Treasurer at Home Bank from May 2012, and Funding Manager and Financial Analyst at Iberiabank from 2008 to May 2012 . Pay-for-performance metrics referenced in HBCP’s program include the Company’s and peer TSR, net income, EPS, ROA, and efficiency ratio . Education is not disclosed in the proxy.
Past Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Iberiabank | Funding Manager & Financial Analyst | 2008–May 2012 | Role in funding/analysis |
| Home Bank | Senior Vice President & Treasurer | May 2012–Nov 23, 2020 | Treasury leadership |
| Home Bancorp/Home Bank | Senior Executive Vice President & CFO | Nov 23, 2020–present | CFO of Company and Bank |
External Roles
None disclosed in the proxy filings reviewed.
Fixed Compensation
Multi-year compensation (Summary Compensation Table):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $193,269 | $214,616 | $229,636 |
| Stock Awards ($) | $38,172 | $37,563 | $52,486 |
| Option Awards ($) | — | — | — |
| Non-Equity Incentive Plan Compensation ($) | $75,000 | $74,000 | $100,500 |
| Change in Pension Value/Nonqualified Deferred Comp ($) | $2,962 | — | — |
| All Other Compensation ($) | $44,676 | $36,925 | $23,116 |
| Total ($) | $354,079 | $363,104 | $405,738 |
Perquisites and benefits include group medical/life/LTD for all employees; club dues are provided to the CEO and CRO, and the CEO has an automobile; Compensation Committee deems such benefits appropriate .
Performance Compensation
Annual cash incentive bonuses are discretionary and determined based upon reaching desired goals; the Compensation Committee targets base salaries at market mid-point and total compensation toward performance outcomes, with long-term stock benefits targeted at ~25% of overall compensation .
Key metrics utilized in executive compensation assessment:
| Metric | Weighting | Target | Actual | Payout Treatment | Notes |
|---|---|---|---|---|---|
| Company TSR and Peer TSR | Not disclosed | Not disclosed | Not disclosed | Used in incentive decisions | Metrics referenced in proxy |
| Net Income | Not disclosed | Not disclosed | Not disclosed | Used in incentive decisions | |
| EPS | Not disclosed | Not disclosed | Not disclosed | Used in incentive decisions | |
| ROA | Not disclosed | Not disclosed | Not disclosed | Used in incentive decisions | |
| Efficiency Ratio | Not disclosed | Not disclosed | Not disclosed | Used in incentive decisions |
Realized vesting:
| Year | Options – Shares Exercised | Value Realized ($) | RSUs – Shares Vested | Value Realized ($) |
|---|---|---|---|---|
| 2023 | — | — | 529 | $16,177 |
| 2024 | — | — | 739 | $27,580 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 10,429 shares as of March 24, 2025; <1% of common stock |
| Shares pledged | None; proxy footnote states “none of the shares are pledged” unless otherwise indicated |
| Options – Vested cash value | ~$54,756 as of Dec 31, 2024 |
| Options – Unvested value | ~$6,198 as of Dec 31, 2024 (in-the-money unvested) |
| RSUs – Unvested units & value | 3,427 units; $158,362 market value at $46.21 close (12/31/2024) |
| Stock ownership guidelines | Apply to non-employee directors (≥$150k or ≥6,000 shares if ≤$25/share) and CEO (≥4x salary); CFO guideline not disclosed |
| Hedging policy | Hedging by directors/senior officers requires Board pre-clearance; blackout windows apply |
| Clawback policy | Amended/restated in 2023 to comply with SEC/Nasdaq; recovery of performance-based equity and cash incentive comp under certain circumstances |
Outstanding Equity Awards at FY-End (12/31/2024):
- Options vest 20% per year from the first anniversary of grant .
Option grants and status:
| Grant Date | Unexercisable | Exercisable | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| 5/12/2015 | — | 650 | 22.25 | 5/12/2025 |
| 5/23/2016 | — | 650 | 28.00 | 5/23/2026 |
| 5/12/2017 | — | 400 | 35.26 | 5/12/2027 |
| 5/23/2018 | — | 500 | 45.12 | 5/23/2028 |
| 5/23/2019 | — | 500 | 35.85 | 5/23/2029 |
| 3/12/2020 | 100 | 400 | 21.99 | 3/12/2030 |
| 5/12/2021 | 200 | 800 | 36.77 | 5/12/2031 |
RSUs not vested (12/31/2024; $46.21 close):
| Grant Date | Units Not Vested | Market Value ($) |
|---|---|---|
| 3/12/2020 | 50 | $2,311 |
| 5/12/2021 | 320 | $14,787 |
| 5/12/2022 | 657 | $30,360 |
| 5/12/2023 | 1,000 | $46,210 |
| 5/12/2024 | 1,400 | $64,694 |
| Total | 3,427 | $158,362 |
Employment Terms
| Term | Provision |
|---|---|
| Employment agreement start | May 20, 2021; amended May 20, 2024 to extend to May 20, 2026 ; amended May 20, 2025 to extend to May 20, 2027 |
| Severance (outside CIC) | Lump-sum cash equal to 1× base salary; continued medical/dental and welfare benefits up to 12 months or until similar benefits from new employer |
| Severance (within CIC window) | Lump-sum cash equal to 2× Annual Compensation (base salary + prior year’s bonus); continued medical/dental up to 24 months or until similar benefits from new employer |
| 280G treatment | “Best-after-tax” approach: full pay or cutback to avoid parachute, whichever yields better after-tax outcome; no excise tax gross-up |
| Salary Continuation Agreement | $125,000 per year for 10 years if employed until age 65; vests at 20% per year starting 6th anniversary of most recent executive appointment; 0% vested as of 12/31/2024; CIC lump sum minimum $300,000 |
| Potential payments (illustrative, as of 12/31/2024) | Involuntary termination: total $239,018 (cash $229,636; medical $7,901; welfare $1,481) . CIC with termination: total $1,125,591 (cash $607,273; ESOP allocation est. $34,055; medical $16,592; welfare $3,111; salary continuation $300,000; unvested options $6,198; unvested RSUs $158,362) . Death/Disability totals $164,560; includes accelerated vesting . |
Investment Implications
- Alignment and risk controls: Use of TSR, EPS, ROA, efficiency ratio in pay program aligns incentives; clawback policy compliant with SEC/Nasdaq and hedging requires Board pre-clearance; no share pledging disclosed for executives, reducing alignment risk .
- Retention and change-in-control: Contract extended to May 20, 2027; salary continuation plan at 0% vesting as of 12/31/2024 and CIC minimum $300k increase stickiness; CIC total payout illustrated at ~$1.13M suggests meaningful protection that can reduce departure risk but warrants monitoring in strategic scenarios .
- Cash vs equity mix: 2024 bonus rose to $100,500 from $74,000 in 2023; stock awards increased to $52,486 from $37,563; long-term equity (options/RSUs) continues to represent a material portion, consistent with a targeted ~25% in stock benefits .
- Insider selling pressure: Upcoming option expirations (e.g., 650 options at $22.25 expiring 5/12/2025; others through 2026–2031) and rolling RSU vesting could create periodic liquidity windows; monitor Form 4s around typical May grant/vesting cycles and expirations .
- Ownership “skin-in-the-game”: Beneficial ownership of 10,429 shares (<1%) and vested option value ~$54,756 indicate some alignment but modest direct equity exposure relative to total comp; CFO is not subject to explicit ownership guidelines in the proxy .