Abraham A. Cox
About Abraham A. Cox
Abraham A. Cox (age 48) is United Community’s Chief Consumer and Small Business Banking Officer, responsible for Mortgage, Retail Sales, Wealth, Product Management, Retail and Small Business Credit, Navitas and Marketing; he joined United in 2022 as Chief Marketing Officer and has been an executive officer since 2023. He has more than 25 years in banking, previously serving as Head of Mortgage Originations at Truist (appointed December 2019 after the BB&T/SunTrust merger), and began his career in BB&T’s Leadership Development Program in 2000; he is a graduate of North Carolina State University and the Graduate School of Banking at LSU . During Cox’s tenure period, United Community’s company-level pay-versus-performance disclosures show improvement from 2023 to 2024: TSR value rose from $107 to $122, Net Income increased from $188 million to $252 million, and ROAA improved from 0.90% to 1.09% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| United Community | Chief Consumer and Small Business Banking Officer | 2023–present | Leads consumer/small business banking, mortgage, wealth, product, credit (retail/SMB), Navitas and marketing to drive customer growth and product performance . |
| United Community | Chief Marketing Officer | 2022–2023 | Elevated brand and marketing strategy; foundation for subsequent consumer/SMB leadership . |
| Truist (BB&T/SunTrust) | Head of Mortgage Originations | Dec 2019–2022 | Led mortgage originations through post-merger integration and market transitions across Southeast/Mid-Atlantic . |
| BB&T/Truist | Executive and senior leadership roles in commercial, retail and mortgage banking | ~2000–2019 | Multi-segment leadership across regions; contributed to growth and operational execution in key lines of business . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mortgage Bankers Association | Industry involvement | Not disclosed | Professional engagement supporting mortgage market practices and advocacy . |
| Boy Scouts of America | Community involvement | Not disclosed | Community leadership and youth development support . |
| United Way | Community involvement | Not disclosed | Philanthropy and local community impact . |
| American Heart Association | Community involvement | Not disclosed | Health-focused community engagement . |
Fixed Compensation
- Base salary for Cox specifically is not disclosed in the 2025 Proxy; the company notes base salary adjustments for certain NEOs in September 2024 to maintain competitive pay, but Cox is not listed among NEOs in those tables .
Performance Compensation
United Community’s executive incentive framework (applies to executive officers via the Management Incentive Plan; NEO specifics shown below) balances company financial/operational outcomes with customer metrics, and integrates PRSUs/TRSUs for long-term alignment.
| Metric | Weight | Threshold | Target | Maximum | 2024 Actual | 2024 Result |
|---|---|---|---|---|---|---|
| Pre-Tax Pre-Provision EPS ($) | 20.0% | $3.10 | $3.44 | $3.72 | $3.43 | 19.71% |
| Operating EPS ($) | 15.0% | $1.95 | $2.17 | $2.34 | $2.30 | 20.73% |
| Net Charge-Offs / Avg Loans (%) | 15.0% | 0.34% | 0.28% | 0.21% | 0.27% | 16.07% |
| NPAs / Total Assets (percentile) | 15.0% | 25th | 50th | 75th | 39th | 11.70% |
| Operating Efficiency Ratio (%) | 20.0% | 59.90% | 56.90% | 54.50% | 57.15% | 19.17% |
| Customer Satisfaction Rating (%) | 15.0% | 95.50% | 96.50% | 97.50% | 98.69% | 22.50% |
| Aggregate Payout vs Target | — | — | — | — | — | 109.88% |
| Equity Award Type | Grant Date | Vesting Schedule | Notes |
|---|---|---|---|
| PRSUs (performance-based) | Jan 4, 2024 | 25% vests each Feb 15, 2025–2028 subject to prior-year performance | TSR modifier can adjust earned performance by up to ±25% vs peer TSR; max payout 150% of target . |
| TRSUs (time-based) | Jan 4, 2024 | 25% vests each Feb 15, 2025–2028 (service-vesting) | Long-term retention emphasis . |
Equity Ownership & Alignment
| Policy/Item | Detail |
|---|---|
| Stock Ownership Guidelines | EVP-and-above executives are expected to hold United Community shares worth at least 2× base salary within five years; CEO 3×; must retain 100% of net-after-tax vested shares until guideline met . |
| Anti-Hedging & Anti-Pledging | Directors, officers, and employees are prohibited from short sales, options/derivatives/hedging and from pledging/margin accounts for United Community stock . |
| Clawbacks | Bonus recoupment policy and Dodd-Frank-compliant Compensation Recovery Policy adopted; recovery of erroneously awarded compensation required under SEC/NYSE rules . |
| Beneficial Ownership (Cox) | Not disclosed individually for Cox in 2025 Proxy; management-level table lists NEOs/directors only . |
| Say-on-Pay Support | 2024 say-on-pay approval: 97.7% of votes cast, indicating strong shareholder support . |
Employment Terms
- Specific employment agreement or change-in-control terms for Cox are not disclosed; company-level practice provides double-trigger Change-in-Control Continuity Agreements for NEOs, with severance multiples of 3× (PEO) or 2× (other NEOs), prorated bonus, continued benefits, and outplacement, subject to release and 280G cutback (no tax gross-ups) . Equity awards also use double-trigger vesting upon change in control . Deferred compensation plan eligibility applies to executive officers generally .
Compensation Peer Group (Program Reference)
United Community benchmarks executive pay to a peer banking group (unchanged year-over-year) including names like ABCB, AUB, CADE, CBSH, CFR, FNB, ONB, PNFP, PB, SSB, SNV, UBSI, among others, with positioning targeted around market medians, and TSR used as a modifier in performance equity awards .
Performance & Track Record
- Business leadership: Cox publicly underscored the strategic launch of United Community Wealth as an expansion to serve consumers and businesses with comprehensive advisory and private wealth capabilities, reflecting customer-centric growth initiatives in his remit .
- Company-level outcomes: Pay-versus-performance reporting shows 2024 TSR of $122 vs $107 in 2023, Net Income of $252 million vs $188 million, and ROAA 1.09% vs 0.90%, demonstrating improved performance over the latest period overlapping Cox’s role .
Investment Implications
- Alignment: Strong stock ownership requirements (2× salary for EVPs) and strict prohibitions on hedging/pledging reduce misalignment and selling pressure risks; robust clawbacks further mitigate adverse incentives .
- Incentive levers: Annual incentives are tied to balanced bank metrics (PPEPS, operating EPS, credit quality, efficiency, customer satisfaction), with a TSR-linked equity modifier—positive for pay-for-performance signaling; 2024 payout at ~110% of target indicates above-target results, supporting retention and continuity .
- Retention risk: While Cox-specific CIC/severance terms are not disclosed, company practices prioritize double-trigger CIC protection for NEOs and use multi-year RSU vesting that typically supports retention; absence of pledging/hedging and strong say-on-pay support (97.7%) signal favorable governance and investor acceptance .
- Execution focus: Cox’s remit spans critical consumer and small business levers (mortgage, wealth, credit, marketing); recent platform expansion (United Community Wealth) suggests continued customer-acquisition and fee-income initiatives underpinning operating metrics used in incentives .