Landon McGlothlin
Executive Vice President, Chief Operations Officer and Chief Information Officer at NEW PEOPLES BANKSHARES
Executive
About Landon McGlothlin
Landon McGlothlin, age 37, serves as Executive Vice President and Chief Operations Officer and Chief Information Officer of New Peoples Bank (NWPP’s bank subsidiary) since January 2023; he previously was Senior Vice President and Chief Information Officer from September 2016 to January 2023 and joined the Bank in March 2005 in Information Technology roles . Company performance during his recent tenure includes a ~51.8% total shareholder return in 2024 vs. 2023 and net income growth of ~14.2% for 2024 vs. 2023 . Quarterly operating metrics improved in Q3 2025: net income rose to $2.8M vs. $2.1M in Q3 2024, ROAA increased to 1.21% vs. 0.97%, ROAE to 14.28% vs. 12.35%, and net interest margin to 3.93% vs. 3.43% .
Company operating metrics (Q3 year-over-year)
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Net income ($USD Millions) | $2.1 | $2.8 |
| ROAA (%) | 0.97% | 1.21% |
| ROAE (%) | 12.35% | 14.28% |
| Net interest margin (%) | 3.43% | 3.93% |
Pay vs. performance (annual)
| Year | Value of $100 (TSR) | Net Income ($USD Thousands) |
|---|---|---|
| 2023 | $107.13 | $7,184 |
| 2024 | $162.67 | $8,204 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| New Peoples Bank | EVP, Chief Operations Officer & Chief Information Officer | Jan 2023–present | Oversees operations and technology; continuity from CIO tenure to drive operational reliability and cybersecurity oversight |
| New Peoples Bank | SVP & Chief Information Officer | Sep 2016–Jan 2023 | Led enterprise IT; modernized systems supporting core banking operations |
| New Peoples Bank | IT roles (various) | Mar 2005–Sep 2016 | Progressive technology responsibilities; foundation for current operational leadership |
External Roles
Not disclosed in 2025/2024 proxy biographies; no public external directorships or roles identified for McGlothlin .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base salary | Not disclosed | McGlothlin is an executive officer of the Bank (not the Company); the Bank compensates him, but no specific amounts are reported in NWPP’s proxy Summary Compensation Table (SCT) . |
| Target bonus % | Not disclosed | Compensation Committee uses Virginia Bankers Association Salary Survey; salaries set competitively with performance and strategic factors (branch performance, asset quality, deposits, efficiency, compliance, earnings) . |
| Actual bonus paid | Not disclosed | Annual bonuses are discretionary based on goals met/exceeded; senior plans exist but individual payout info for McGlothlin is not disclosed . |
| Perquisites | Not disclosed | Perks for named executives include 401(k) match, cafeteria plan, life/disability premiums, vehicle/auto allowance; McGlothlin-specific details not disclosed . |
Performance Compensation
| Incentive type | Metric | Target/Determination | Payout | Vesting | Notes |
|---|---|---|---|---|---|
| Senior Performance Bonus Plan (cash) | Bank operating or consolidated performance goals | Predetermined percentage of total compensation for participants; Board accrues and pays annually | Cash | N/A (annual cash) | $205,175 accrued for 2024 and paid in 2025; $231,115 accrued for 2023 and paid in 2024; participation is limited to certain senior officers; McGlothlin eligibility not specifically disclosed . |
| Bank-Wide Profit Sharing Plan (cash) | Budgeted net income | Pool reduced by any shortfall vs. budget; allocations by position | Cash | N/A (annual cash) | $238,017 paid in 2024 for 2023; $290,004 paid in 2023 for 2022; plan remained in effect for 2024; McGlothlin-specific amounts not disclosed . |
| Long-Term Cash Incentive Plan (LTCIP) | Quarterly EPS of common stock | Award = EPS × notional shares; EPS may be adjusted to exclude unusual/infrequent items | Cash | Vests 25% on each of first–fourth anniversaries of grant; vested portions generally paid in three installments | Adopted Feb 27, 2023; awards increased from 500,000 to 750,000 notional shares in Dec 2023; initial awards granted to Asbury (140k), Kiser (110k; +30k eff. Jan 1, 2024), Speaks (75k) and other senior management; McGlothlin grant not disclosed . |
Performance metric alignment: LTCIP ties payouts to sustained EPS over multi-year vesting; Profit Sharing aligns with achieving budgeted net income; Senior Bonus Plan links to operating/consolidated performance goals .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Individual beneficial ownership | Not individually disclosed for McGlothlin in management ownership table (table includes board members and named executive officers) . |
| Group beneficial ownership | Directors and executive officers as a group (15 persons): 11,574,939 shares; 47.27% of class; based on 23,615,747 shares outstanding (record date Mar 26, 2025) . |
| Shares outstanding reference | 23,615,747 (as of Mar 26, 2025) . |
| 10b5-1 trading plans (pressure/intent) | No directors or officers adopted, modified or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q3 2025 . |
| Pledging/hedging | Not disclosed. |
| Stock ownership guidelines | Not disclosed. |
Stock repurchase program (context for insider supply/demand)
| Period beginning | Shares purchased | Avg price ($) | Remaining authorization |
|---|---|---|---|
| Aug 31, 2025 | 16,064 | 3.06 | 162,728 |
| Sep 30, 2025 | 7,621 | 3.09 | 155,107 |
Program authorizes repurchases up to 500,000 shares; extended through March 31, 2026 .
Employment Terms
| Term | McGlothlin-specific disclosure |
|---|---|
| Employment agreement | Not disclosed; McGlothlin is a Bank executive (not a Company executive officer) and is compensated by the Bank . |
| Severance | Not disclosed. |
| Change-of-control | Not disclosed. |
| Non-compete / non-solicit | Not disclosed. |
| Clawback provisions | Not disclosed. |
Reference governance: The Compensation Committee sets compensation for executives; Booher, McGlothlin, and Ratliff serve only at the Bank and are not compensated by the Company .
Investment Implications
- Alignment: McGlothlin’s incentives are likely cash-based with potential eligibility for EPS-linked LTCIP; multi-year vesting and EPS linkage favor longer-term performance, but lack of disclosed individual grants reduces visibility into personal alignment and retention levers .
- Insider supply/selling pressure: No Rule 10b5-1 activity in Q3 2025; ongoing repurchase program reduces float and may offset any insider selling; no pledging/hedging disclosures found, limiting risk assessment .
- Performance backdrop: Strong TSR and net income growth in 2024, plus Q3 2025 profitability and margin expansion, suggest an operating environment supportive of COO/CIO execution; however, absence of disclosed ownership and contract terms for McGlothlin introduces opacity on retention economics and personal stake .
- Monitoring: Watch future proxies for inclusion of McGlothlin in named executive disclosures, any LTCIP awards to him, and any 8-K item 5.02 filings that add employment/compensatory arrangements; track continuation of repurchases and any insider trading plan adoptions .