Brent Smith
About Brent Smith
Brent Smith is Executive Vice President and President of LINKBANK; he has served in these roles since LINK’s inception in 2018. He is 42 and previously held senior roles at Sunshine Bank (SVP, Corporate Development), Susquehanna Bank (VP & Director of Brokerage Services), and Tower Bancorp (VP & Director of Investor Relations) . 2024 operating results used for executive incentives included net income of $26.2M (ROA 0.94%), non‑performing assets at 0.60% of total assets, and deposit growth of $161.8M (7.36%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LINKBANK / LINKBANCORP | Executive Vice President; President of LINKBANK | 2018–present | Founding team member leading bank operations and growth |
| Sunshine Bank | SVP, Corporate Development | 2014–2018 | Corporate development leadership prior to 2018 sale |
| Susquehanna Bank | VP & Director of Brokerage Services | 2012–2014 | Built brokerage services offering |
| Tower Bancorp, Inc. | VP & Director of Investor Relations | 2009–2012 | Led IR through acquisition by Susquehanna |
External Roles
No external public company directorships or board committee roles for Brent Smith were disclosed in the proxy biography .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $280,769 | $350,000 |
| Cash Bonus ($) | $175,000 | $0 |
| Non‑Equity Incentive ($) | $210,000 | $140,000 |
| Stock Awards (Grant‑date Fair Value, $) | $56,000 | $52,640 |
| All Other Compensation ($) | $25,331 | $51,859 |
| Total Compensation ($) | $747,100 | $594,499 |
| Target Incentive Opportunity (% of Base) | 40%–80% (Bank President) | 40%–80% (Bank President) |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout (% of Salary) | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| Net Income | Not disclosed | Not disclosed | $26.2M; ROA 0.94% | 40% (Bank President) | $140,000 | N/A (annual cash) |
| Credit Quality (NPAs/Total Assets) | Not disclosed | Threshold/Target/Max (not disclosed) | 0.60% NPAs/Assets | 40% (aggregate payout) | $140,000 | N/A |
| Deposit Growth | Not disclosed | Threshold/Target/Max (not disclosed) | +$161.8M (+7.36%) | 40% (aggregate payout) | $140,000 | N/A |
| Strategic Projects | Not disclosed | Not disclosed | Partners integration, branch consolidation/divestitures, new retail product suite launched | 40% (aggregate payout) | $140,000 | N/A |
| Succession Planning | Not disclosed | Not disclosed | Comprehensive update completed | 40% (aggregate payout) | $140,000 | N/A |
Annual goals are set with threshold/target/maximum levels; individual factor weightings were not disclosed. CEO earned 50%; President and Bank President earned 40% for 2024 .
Equity Ownership & Alignment
| As of | Direct/Indirect Shares Owned | Unvested Restricted Stock | RSUs Unvested | RSUs Vesting Within 60 Days | Options Exercisable Within 60 Days | Founder Warrants Exercisable Within 60 Days | Total Beneficial Ownership | % of Shares Outstanding | Pledged Shares |
|---|---|---|---|---|---|---|---|---|---|
| April 4, 2025 | 74,220 (incl. 35,000 in IRA; 27,857 joint) | 6,400 | 8,000 | 2,666 | 40,000 (strike $10.00; exp. 06/14/2029) | 240,000 | 354,220 | Less than 1% | None (company notes no pledging by NEOs) |
| Equity Award Detail | Grant Date | Status | Quantity | Strike/Value | Vesting/Expiration |
|---|---|---|---|---|---|
| Stock Options | 06/14/2019 | Exercisable | 40,000 | $10.00 | Expire 06/14/2029; 5‑yr annual vesting schedule |
| Restricted Stock Award | 08/31/2023 | Unvested | 6,400 | $47,872 MV @ $7.48 | 5‑yr annual vesting; acceleration possible |
| Restricted Stock Units | 05/23/2024 | Unvested | 8,000 | $59,840 MV @ $7.48 | 3‑yr annual vesting; acceleration possible |
| Founder Warrants | 2018–2019 program | Exercisable | 240,000 | $10 per share program terms | 10‑yr term per program; founders grant ratio 4:1 |
Market values above use $7.48 per share on 12/31/2024; LNKB closed at $6.55 on 4/4/2025 per plan disclosures .
Employment Terms
| Item | Terms |
|---|---|
| Employment Agreement | Dated October 28, 2021; term two years for Smith, auto‑renews each October 28 to maintain two‑year term unless either party gives 90 days’ notice . |
| Current Base Salary | $350,000 as of 12/31/2024 . |
| Severance (no CIC) | If terminated without cause or resigns for “good reason”: lump sum equal to 2× (salary + average cash bonus/other cash incentives over prior 3 years); continuation/reimbursement of health and welfare benefits up to 2 years . |
| Change‑in‑Control | Double‑trigger required (CIC followed within 2 years by involuntary termination or good‑reason resignation): 2× (salary + average cash bonus/other cash incentives over prior 3 years) plus benefits continuation up to 2 years; 280G “best‑net” (full pay subject to excise or cutback to avoid excise) . |
| Non‑Compete / Non‑Solicit | Restrictions on competition and solicitation for one year following termination (Smith) . |
| Deferred Compensation | Individual deferral elections for salary/bonus; company performance‑based contribution up to 15% of base salary based on operating ROA; payouts over 180 months (normal retirement) or 120 months (early termination/disability); CIC followed within 24 months by separation pays account balance plus, effective Nov 1, 2025, an additional amount equal to annual base salary; paid in 180 installments with timing defined . |
| Split‑Dollar Life Insurance | Beneficiary entitled to the lesser of $100,000 or net death proceeds under policy structure . |
| Equity Plan Governance | 2025 Equity Plan requires double‑trigger vesting on CIC; prohibits option repricing/buyouts without shareholder approval; minimum 1‑year vesting for ≥95% of awards; clawback provisions; potential 12‑month holding periods to meet ownership requirements . |
| Insider Trading Policy | Anti‑hedging policy prohibiting transactions designed to offset declines in stock value . |
| Option Grant Timing | Company does not grant options during closed windows and did not grant options to NEOs in 2024 . |
Compensation Structure Notes
- Year‑over‑year mix: 2024 cash incentive and stock awards were lower than 2023, with no discretionary cash bonus in 2024; total comp decreased to $594,499 from $747,100 .
- Plan mechanics emphasize ROA, credit quality, deposit growth, strategic execution, and succession planning; Bank President payout was 40% of base for 2024 .
- Equity awards vest over multi‑year schedules (RS 5 years; RSU 3 years), supporting retention; options/warrants are out‑of‑the‑money against $6.55 price as of 4/4/2025 (strike $10), reducing near‑term exercise/sale pressure .
Investment Implications
- Alignment: Smith’s beneficial ownership (354,220 including 280,000 options/warrants exercisable within 60 days) is <1% of shares; no pledging—positive for alignment. Multi‑year vesting and potential holding periods further align incentives .
- Retention/transition risk: Strong retention via deferred comp with up to 15% ROA‑linked employer contributions and CIC protections; severance at 2× salary+bonus with one‑year non‑compete suggests moderate transition friction but typical for community banks .
- Pay for performance: 2024 incentives tied to profitability (ROA), asset quality, deposits, and strategic milestones; payout at 40% indicates measured awards despite merger integration workload—suggests disciplined committee oversight .
- Trading signals: With options/warrants struck at $10 and current disclosures citing $6.55 price on 4/4/2025, near‑term insider selling from option exercises is unlikely; RS/RSU vesting schedules (6,400 RS; 8,000 RSU with ~2,666 vesting near 5/23/2025) create modest periodic supply, partially mitigated by potential holding requirements and anti‑hedging policy .