Daniel J. Schrider

Chair, President, and CEO at SASR

Board

Since January 2009

Age

59 years

Education

Earned a bachelor's degree from the University of Maryland, an MBA from Mount St. Mary's University, and graduated from the American Bankers Association Stonier Graduate School of Banking.

Tenure

Joined as President in March 2008, became CEO in January 2009, and later assumed the Chair role in January 2023, contributing significantly to strategic growth and operational excellence.

Also at SASR

AMK

Aaron M. Kaslow

Executive Vice President, Chief Administrative Officer, and General Counsel

CSC

Charles S. Cullum

Chief Financial Officer

GJF

Gary J. Fernandes

Executive Vice President and Chief Human Resources Officer

About

With a long-standing career spanning 34 years at Sandy Spring Bancorp as of December 31, 2023, this executive has played an integral role in steering the company through multiple transformative phases in the banking industry.

Serving in pivotal leadership roles—starting as President in March 2008, then as CEO since January 2009, and later as Chair from January 2023—the individual has driven several strategic initiatives, including a key merger with Atlantic Union Bankshares Corporation and enhancements in digital banking platforms, liquidity management, and wealth management operations.

Alongside these professional achievements, a strong educational foundation was established by earning a bachelor's degree from the University of Maryland, an MBA from Mount St. Mary's University, and by graduating from the American Bankers Association Stonier Graduate School of Banking, equipping them with the analytical and managerial skills necessary for navigating the complex financial landscape.

$SASR Performance Under Daniel J. Schrider

Past Roles

Organization	Role	Date Range	Details
Sandy Spring Bank (SASR)	Commercial Lender	1989 - 2009	Joined in 1989 as a commercial lender and later promoted

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$875,000	Annual	Fixed base salary for 2023.
401(k) Matching Contribution	$16,500	Annual	Company contribution to the 401(k) plan for 2023.
Imputed Income on Life Insurance	$5,027	Annual	Imputed income value on executive life insurance for 2023.
Perquisites	$15,505	Annual	Includes car allowance, personal use of a company vehicle, long-term care & supplemental disability insurance premiums, and executive health screening.

Performance Compensation

Data from FY 2023

Performance Restricted Stock Units (PRSUs)

Metric	Details
Grant Date	March 15, 2023
Grant Date Fair Value	$393,751 per unit
Number of PRSUs Granted (Target)	14,313 units
Threshold Vesting	7,157 units (50% of target)
Maximum Vesting	21,470 units (150% of target)
Performance Metric	Return on Tangible Common Equity (ROTCE)
Evaluation Period	2023-2025 (3-year period)
Vesting Schedule	Cliff vesting on December 31, 2025
Additional Modifiers	TSR Modifier: +15% if in top quartile, -15% if in bottom quartile (overall payout capped at 150% of target)

Annual Incentive Plan (AIP)

Metric	Threshold	Target	Maximum	Weight	2023 Performance Result & Payout Level	Additional Details
Adjusted Pre-Tax, Pre-Provision Net Revenue ($)	$180,000	$220,000	$260,000	45%	$166,086 (0% Payment)	N/A
Non-GAAP Efficiency Ratio (%)	57.00%	54.00%	51.00%	35%	60.99% (0% Payment)	N/A
Net Charge-Off Ratio (%)	0.15%	0.10%	0.05%	20%	0.01% (150% Payment)	Final cash payout was increased to 50% of target for all participants due to favorable additional factors.

Note: The AIP awards are cash-based and were paid in March 2024, while the PRSUs are performance-based share awards with dividend reinvestment. All metrics and performance conditions apply solely to 2023 data as provided.