Lindsay Bixler
About Lindsay Bixler
Lindsay S. Bixler is Executive Vice President and Chief Financial Officer of PB Bankshares (Presence Bank), having joined in May 2021 and becoming CFO in June 2021. She oversees long-term strategic planning, financial analysis, budgeting, and accounting oversight; she is a Certified Public Accountant with a B.S. in Accounting (minor in equine science) from The Pennsylvania State University. Age 41 as of December 31, 2024; tenure at Presence Bank since 2021. The company evaluates executive bonuses based on earnings, growth, expense control, and asset quality; specific TSR/revenue/EBITDA performance metrics for Ms. Bixler were not disclosed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RKL LLP | Senior Audit Manager | Nov 2015–May 2021 | Led external and internal audits of financial institutions; oversight of audit engagements for banks |
| BDO LLP | Senior Audit Manager | Not disclosed | Managed audits of financial institutions, including SEC registrants |
| ParenteBeard LLP | Manager | Not disclosed | Worked on audits of financial institutions, including SEC registrants |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Local not‑for‑profit (unnamed) | Board Member | Current | Community engagement and fiduciary oversight |
| Two not‑for‑profit organizations (unnamed) | Treasurer | Current | Financial stewardship for local non‑profits |
Fixed Compensation
- Not disclosed for Ms. Bixler. The Summary Compensation Table lists the CEO and two other Named Executive Officers; Ms. Bixler is not a NEO in the 2025 proxy.
- Bonus framework context (for NEOs): The Board uses both company‑wide and individual performance objectives; for 2024, bonuses for NEOs ranged from 20%–40% of salary. Ms. Bixler’s specific target/actual bonus is not disclosed.
Performance Compensation
- Plan constructs (disclosed for NEOs; Ms. Bixler‑specific details not disclosed):
- Metrics used: earnings, growth, expense control, asset quality (evaluated annually and as 3‑year trends; includes consideration of exogenous factors).
- Equity plan: 2022 Equity Incentive Plan approved; NEO options and restricted stock from 2022 vest in five equal annual installments commencing Nov 14, 2023. 2024 saw no option grants to executive officers. Ms. Bixler’s specific equity grant terms/vest schedule were not separately disclosed.
Equity Ownership & Alignment
| Metric | Apr 2, 2024 | Apr 8, 2025 |
|---|---|---|
| Total Beneficial Ownership (shares) | 14,731 | 19,297 |
| Ownership as % of Shares Outstanding | <1% (2,629,967 out. shares) | <1% (2,552,315 out. shares) |
| IRA (shares) | 2,677 | 2,677 |
| ESOP Allocated (shares) | 1,579 | 2,226 |
| Unvested Restricted Stock (shares) | 5,244 | 3,933 |
| Options Exercisable within 60 Days (shares) | 3,920 | 7,840 |
- Anti‑hedging/pledging: Directors and executive officers are prohibited from hedging and generally prohibited from pledging PB Bankshares stock or holding it in margin accounts; the Board has not approved any exceptions. This materially reduces alignment risks from hedging and forced sales via margin.
- ESOP context: Presence Bank ESOP purchased 222,180 shares; allocations occur pro‑rata as loan is repaid. Ms. Bixler participates (see ESOP allocated shares above).
- Stock ownership guidelines: Not disclosed. Anti‑pledging and anti‑hedging policies are in place via Insider Trading Policy.
Employment Terms
- Employment agreement: Only the CEO’s employment agreement is disclosed (three‑year term with auto‑renewal, severance, and non‑compete terms); no employment agreement for Ms. Bixler is disclosed in the proxy.
- Change‑in‑control (CIC): CIC agreements are disclosed for Messrs. Byers and Sayre (2x salary+highest bonus; COBRA stipend). No CIC agreement for Ms. Bixler is disclosed.
- Deferred compensation: Executive Deferred Compensation Plan (EDC) available to certain key managers; NEOs participated in 2024. Ms. Bixler’s participation is not disclosed.
- SERP: SERPs disclosed for CEO (30% of salary) and Byers/Sayre (15%); no SERP disclosed for Ms. Bixler.
- Clawback: Not disclosed in the proxy; Insider Trading Policy filed with the 10‑K covers anti‑hedging/pledging.
Investment Implications
- Alignment and selling pressure: Ms. Bixler’s ownership increased to 19,297 shares (<1%) with ESOP allocations and unvested RS; options exercisable within 60 days doubled from 3,920 (2024) to 7,840 (2025), indicating ongoing vesting that can create periodic, manageable selling windows. Aggregate holding size is modest relative to total shares outstanding, limiting stock‑level selling pressure.
- Retention and protection: No disclosed employment or CIC agreement for Ms. Bixler suggests lower severance protection than some peers (Byers, Sayre), but unvested restricted stock supports retention via multi‑year vesting. Lack of disclosed SERP/EDC participation reduces long‑dated “golden handcuff” effects.
- Governance quality: Strong anti‑hedging/anti‑pledging policy with no exceptions mitigates misalignment risk; Compensation Committee did not use an outside advisor in 2024, and applies a holistic, discretionary bonus framework anchored on earnings/growth/expense control/asset quality. For modeling, investors should not assume formulaic, target‑based payouts for Ms. Bixler.
- Data gaps: As a non‑NEO, Ms. Bixler’s base salary, bonus targets, and specific equity award terms are not disclosed, limiting pay‑for‑performance precision at the individual level. Monitoring future Form 4 filings and proxy disclosures is recommended for updates (e.g., vesting, exercises, or new awards).
Notes on vesting context: NEO awards under the 2022 plan vest in five equal annual installments starting Nov 14, 2023; while Ms. Bixler’s specific grant schedules are not disclosed, her declining unvested RS count and rising near‑term exercisable options are consistent with staggered vesting.