Stephen G. Barker
About Stephen G. Barker
Stephen G. Barker, age 72, has served as a director of Kentucky First Federal Bancorp since its inception in March 2005. He is the sole owner of “Stephen G. Barker, Attorney at Law,” holds a Juris Doctor from the University of Kentucky College of Law and a B.S. in Forestry from the University of Kentucky, and is admitted to practice before the Kentucky Supreme Court and U.S. District Court for the Eastern District of Kentucky. Barker is President of Kentucky River Properties LLC (and previously with Kentucky River Coal Corporation/Kentucky River Properties since 1985 in legal and executive roles) and has served on the Board of First Federal Savings and Loan Association of Hazard (subsidiary) since 1997 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kentucky River Coal Corp / Kentucky River Properties LLC | Assistant General Counsel; Executive Vice President; Assistant Secretary | Since 1985 | Natural resources leasing oversight; legal and executive leadership |
| USDA Soil Conservation Service | Forester; District Conservationist | Pre-law | Conservation and land management experience |
| Perry Circuit Court | Master Commissioner | Prior role | Court-appointed officer; local legal community leadership |
External Roles
| Organization | Role | Public/Private | Committees/Impact |
|---|---|---|---|
| Kentucky River Properties LLC | President | Private | Oversees land, mineral, oil & gas, timber assets; lessees include publicly traded resource producers |
| National Council of Coal Lessors | Director; Executive Committee member | Association | Industry governance and policy engagement |
| Hazard Perry County Airport Board | Chairman | Public authority | Airport management oversight |
| Perry County Conservation District | District Supervisor; Secretary & Treasurer | Public body | Conservation district governance |
| Stephen G. Barker, Attorney at Law | Sole Owner | Private | Legal services, including to First Federal of Hazard |
Board Governance
- Independence: The Board determined Barker is independent under Nasdaq rules, while explicitly noting his law firm received $25,660 in legal fees from First Federal of Hazard (FY ended June 30, 2025) and that related-party transactions are overseen per policy (Audit Committee approval) .
- Committee assignments (FY2025): Not listed as a member of Audit (Harrod Chair; Ecton, Farler, Johnson), Compensation (Farler Chair; Harrod, Johnson, Ecton), or Nominating & Corporate Governance (Farler Chair; Ecton, Harrod, Johnson) .
- Attendance: Board met four times in FY2025; no director attended fewer than 75% of aggregate board and committee meetings; all directors attended the 2024 annual meeting (in person or by phone) .
- Board leadership: Independent Chair role held by Walter G. Ecton, Jr. since August 29, 2024; Board maintains separation of Chair and CEO roles; five of seven directors are independent .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Company Board monthly fee | $600 per month | No additional committee meeting compensation at Company-level |
| First Federal of Hazard Board monthly fee | $900 per month | Committee meetings fee $100 when held on non-board days |
| First Federal of Kentucky Board monthly fee | $900 per month | Committee meetings fee $100 when held on non-board days |
| FY2025 Total fees (cash) – S.G. Barker | $18,400 | Director compensation shown as cash-only; perquisites under $10,000 |
Performance Compensation
| Metric Type | Details |
|---|---|
| Equity awards (RSUs/PSUs/options) | None disclosed for non-employee directors in FY2025; director table shows cash-only . Company states it does not currently grant stock options in equity programs . |
| Performance metrics tied to director pay | Not disclosed (director compensation is fixed fees and meeting-based) |
| Clawback policy | Incentive-Compensation Recoupment Policy adopted (applies to executive incentive-based compensation per SEC/Nasdaq rules) |
Other Directorships & Interlocks
| Company | Sector | Role | Interlock/Conflict Notes |
|---|---|---|---|
| None disclosed (public company boards) | — | — | No public company directorships disclosed |
| First Federal Savings and Loan Association of Hazard (subsidiary) | Banking | Director since 1997 | Internal subsidiary role |
| Legal services to First Federal of Hazard | Professional Services | Sole owner of law firm | Received $25,660 in FY2025; reviewed for independence; approved per related-party policy |
Expertise & Qualifications
- Legal: JD; admitted in Kentucky; decades of private practice; court Master Commissioner; bar association leadership .
- Natural resources and real estate: President of resource-owning entity; deep land/mineral leasing expertise; forestry background .
- Community governance/operations: Airport board chair; conservation district leadership; industry association executive committee .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Shares Outstanding Reference |
|---|---|---|---|
| Stephen G. Barker | 28,731 | <1% (denoted “*”) | 8,086,715 shares outstanding as of record date |
- Pledging/Hedging: Company does not prohibit directors/officers from hedging or pledging shares; no specific pledging disclosure for Barker in proxy .
Insider Trades (Form 4)
| Date Range Searched | Person | Result |
|---|---|---|
| 2020-01-01 to 2025-11-20 | Stephen Barker | No Form 4 transactions found (Insider-Trades skill run Nov 20, 2025) |
Governance Assessment
-
Positives:
- Independent director with substantial tenure (since 2005) and domain expertise in legal, real estate, and resource leasing; subsidiary board experience since 1997 .
- Attendance thresholds met; all directors attended the 2024 annual meeting; Board meets quarterly with committee oversight under approved charters .
- Independent Board Chair; committees comprised solely of independent directors; separation of Chair and CEO roles .
-
Watch items / RED FLAGS:
- Related-party exposure: Barker’s law firm received $25,660 from First Federal of Hazard in FY2025; while reviewed under independence framework and policy, recurring services create conflict optics in a small-cap bank setting .
- Hedging/pledging policy gap: Company permits hedging and pledging; absence of prohibitions can weaken alignment, especially with low disclosed equity holdings (<1%) .
- Alignment: Director compensation is cash-only with no disclosed equity grants to directors, which may reduce long-term ownership alignment versus peers that use equity retainers .
-
Contextual signals:
- Say-on-pay historically “overwhelmingly” approved, indicating general shareholder support for compensation practices; however, this pertains to executives, not director pay .
- Audit and compensation oversight detailed; Compensation Committee authorized to hire independent consultants, though none are disclosed as engaged in FY2025 .
Overall, Barker brings long-tenured governance experience and sector-specific legal/real-estate expertise, but the recurring legal services with a subsidiary and permissive hedging/pledging stance warrant investor monitoring for potential conflicts and alignment risks .