Cheryl M. VanAllen
About Cheryl M. VanAllen
Cheryl M. VanAllen is Executive Vice President and Chief People Officer at Republic Bank & Trust Company (RBCAA), age 45, appointed in 2024 after leading talent strategy and people analytics for KFC U.S. at Yum! Brands and earlier holding various Human Resources roles at UPS . Her tenure has coincided with strong company-level performance metrics used in executive incentive plans: in Q1 2025 Republic reported net income of $47.3M, diluted EPS of $2.42, ROAA of 2.61%, ROE of 18.74%, and an efficiency ratio of 40.3% . Republic’s compensation program emphasizes gross operating profit (GOP), ROAA, and efficiency ratio, aligning executive pay with operational outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Yum! Brands (KFC U.S.) | Led talent strategy & people analytics for KFC U.S. | 2013–2024 | Drove enterprise talent strategy and analytics supporting large-scale U.S. operations |
| UPS | Various Human Resources roles | Not disclosed | Broad HR experience across roles prior to Yum! Brands |
External Roles
- Not disclosed.
Fixed Compensation
- Ms. VanAllen’s individual base salary, bonus, and equity grant values are not disclosed (not a Named Executive Officer in 2024) .
- Republic’s executive pay structure comprises Base Salary, Annual Bonus (primarily GOP-based), Stock Incentive (restricted stock, PSUs, stock options), and Deferred Compensation matching for designated key employees .
2024 compensation mix (for context – NEOs):
| Component | Chair/CEO Mix | Avg. NEO Mix (excl. Chair/CEO) |
|---|---|---|
| Base Salary | 51% | 45% |
| Annual Bonus | 44% | 26% |
| Stock Incentives | — | 25% |
| Deferred Compensation Match | — | 2% |
| Other (perquisites/benefits) | 5% | 2% |
Performance Compensation
Republic ties bonus and PSU outcomes to quantifiable operating metrics:
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Annual Bonus (2024 goals – Total Company GOP): | Level | Payout Potential (% of Target) | GOP Goal ($MM) | Actual 2024 Outcome | |---|---|---|---| | Entry | 70% | $120 | Achieved Maximum | | Mid | 85% | $124 | Achieved Maximum | | Maximum | 100% | $128 | Achieved Maximum |
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PSU Framework (2024 cycle): | Metric | Threshold (50% payout) | Target (100%) | Max (150%) | Actual (Company vs peers) | Settlement/Hold Requirements | |---|---|---|---|---|---| | ROAA | 1.47% & 3rd quartile vs peers | 1.47% & 2nd quartile | 1.47% & 1st quartile | ROAA in 1st quartile | Settled early 2025 into restricted stock; hold 2 years after Jan 1, 2027 vesting | | Efficiency Ratio | 54.50% & 3rd quartile vs peers | 54.50% & 2nd quartile | 54.50% & 1st quartile | Efficiency in 3rd quartile | As above |
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Vesting schedules and holding requirements (indicative, from NEO awards):
- Restricted stock: typical vesting Jan 1, 2027; mandatory 2-year holding post vest .
- NQSOs: vesting/exercisability tranches from Jan 1, 2027 to Jan 1, 2030; mandatory 2-year holding on shares post exercise .
- 2025 PSU cycle: scheduled to vest/settle in early 2026 to restricted stock; 2-year holding post vest .
Equity Ownership & Alignment
- Anti-hedging policy prohibits hedging transactions for all employees and Directors (e.g., swaps/collars/exchange funds) to preserve alignment with shareholders .
- Pledging/margin accounts are not permitted for NEOs and Directors (explicit “what we do not do”) .
- Stock ownership guidelines apply to CEO/Bank, CFO, Pres/RPG, and CIOO (minimum 2× base salary within five years from January 2021); no guideline disclosed for Chief People Officer .
- Beneficial ownership concentration: Directors and Executive Officers as a group control ~73% of combined voting power (approx. 56% of total shares outstanding), reflecting a controlled company structure and high insider alignment/influence . Company affirms controlled company status under NASDAQ rules .
Employment Terms
- The Company does not offer employment agreements to NEOs; compensation is determined annually by the Compensation Committee .
- Change-in-Control Severance Agreements for NEOs include:
- Severance: 2× base salary + average bonus (prior 3 years), paid over 24 months (12 months for CIOO) .
- Benefit continuation (health/dental/life/LTD) for two years (one year for CIOO) .
- Accelerated vesting of stock options and stock awards; vesting of deferred compensation match upon CIC .
- Two-year non-compete, non-solicit, and confidentiality covenants; definitions of “cause” and “good reason” provided .
- Ms. VanAllen’s individual severance/CIC terms are not disclosed; above applies to Named Executive Officers .
Performance & Pay Context (Company-level indicators tied to incentives)
| Metric | Q1 2024 | Q1 2025 |
|---|---|---|
| Net Income ($MM) | $30.6 | $47.3 |
| Diluted EPS (Class A) | $1.58 | $2.42 |
| ROAA (%) | 1.70 | 2.61 |
| ROE (%) | 13.12 | 18.74 |
| Efficiency Ratio (%) | 42.3 | 40.3 |
Additional governance/sentiment:
- Say-on-Pay (April 20, 2023): over 99% approval, indicating broad shareholder support for NEO pay practices .
- Compensation peer group includes regional banks and fintech-aligned institutions (e.g., MCB, GDOT, CASH, TBBK, SYBT, SBCF), updated in 2024 .
Investment Implications
- Human capital leverage: As Chief People Officer, Ms. VanAllen’s remit (talent strategy/analytics) aligns with Republic’s incentive focus on sustained GOP, ROAA, and efficiency, supporting operational execution and bonus/PSU outcomes .
- Alignment safeguards: Company-wide anti-hedging, explicit no-pledging for NEOs/Directors, and post-vesting/exercise holding periods reduce misalignment and dampen near-term insider selling pressure tied to vest dates .
- Disclosure gaps: Absence of individual pay/CIC detail for Ms. VanAllen limits precision on retention risk and event-driven payout modeling; monitoring future proxies or 8-K 5.02 filings is warranted .
- Governance concentration: Controlled company status and ~73% insider voting power can insulate strategic HR initiatives but also lower external pressure; investors should weigh this in governance risk assessments and event outcomes .