UCBA » Topics » Summary Compensation Table

This excerpt taken from the UCBA DEF 14A filed Oct 8, 2008.

Summary Compensation Table

The following information is furnished for the chief executive officer and the two other most highly compensated executive officers during the year ended June 30, 2008.

 

Name and Principal Position

   Year    Salary
($)
   Bonus
($)(1)
   Stock
Awards
($)(2)
   Option
Awards
($)(3)
   Nonqualified
Deferred
Compensation
Earnings
   All Other
Compensation
($)(4)
   Total
($)

William F. Ritzmann

President and Chief Executive Officer

   2008

2007

   142,106

137,300

   5,896

9,707

   45,868

70,001

   23,628

35,972

   —  

5,703

   41,101

145,925

   258,599

417,655

Elmer G. McLaughlin

Executive Vice President, Chief Operating Officer and Corporate Secretary

   2008

2007

   121,925

117,802

   5,059

8,468

   34,401

52,500

   17,721

26,979

   —  

—  

   33,309

99,281

   212,415

316,412

James W. Kittle

Senior Vice President, Lending

   2008

2007

   95,312

92,089

   3,955

6,573

   24,368

37,188

   12,553

19,111

   —  

—  

   24,685

53,909

   160,873

217,705

 

(1) Reflects amounts earned under the cash profit-sharing plan and the cash bonus program.
(2) Reflects the dollar amount recognized for financial statement reporting purposes in accordance with SFAS 123(R). Amounts represent the vesting of 5,309, 3,981 and 2,820 shares of restricted stock in fiscal 2008 for Messrs. Ritzmann, Elmer G. McLaughlin and Kittle, respectively, multiplied by the closing stock price of each award on the date of grant. Recipients are receiving dividends on unvested shares as they are paid and these dividends are being accounted for as if they were W-2 income.
(3) Reflects the dollar amount recognized for financial statement reporting purposes in accordance with SFAS 123(R). Amounts represent the vesting of 13,271, 9,954 and 7,051 stock options in fiscal 2008 for Messrs. Ritzmann, Elmer G. McLaughlin and Kittle, respectively, multiplied by the fair value of each option using the Black-Scholes option pricing model.
(4) Details of the amounts reported in the “All Other Compensation” column are provided in the table below. The table excludes perquisites, which did not exceed $10,000 in the aggregate for each named executive officer:

 

Item

   William F. Ritzmann    Elmer G. McLaughlin    James W. Kittle

Employer contribution to 401(k) plan

   $  7,870    $  7,853    $  7,086

Market value of allocations under the employee stock ownership plan

   20,188    18,778    12,673

Value of insurance premiums under endorsement method split-dollar life insurance arrangement

   755    785    752

Dividends paid on stock awards

   7,857    5,893    4,174

Value of SERP payments

   4,431    —      —  
              

Total

   $41,101    $33,309    $24,685
              
This excerpt taken from the UCBA DEF 14A filed Oct 5, 2006.

Summary Compensation Table

The following information is provided for our President and Chief Executive Officer and the next four most highly compensated executive officers of United Community Bancorp and United Community Bank. These persons are sometimes referred to in this proxy statement as the “named executive officers.”

 

     Annual Compensation (1)   

All Other

Compensation (3)

Name and Position

   Year    Salary    Bonus (2)   

William F. Ritzmann
President and Chief Executive Officer

   2006
2005
2004
   $129,464
119,710
116,223
   $33,905
28,505
25,686
   $121,146
63,709
56,571

Elmer G. McLaughlin
Executive Vice President, Chief Operating Officer and Corporate Secretary

   2006
2005
2004
   $114,385
108,127
104,978
   $31,593
25,747
23,199
   $  75,544
37,380
33,313

James W. Kittle
Senior Vice President, Lending

   2006
2005
2004
   $  89,407
86,803
84,275
   $20,334
20,669
23,495
   $  38,299
16,830
16,764

Vicki A. March
Senior Vice President, Chief Financial Officer and Treasurer

   2006
2005
2004
   $  86,451
83,933
81,488
   $25,261
19,986
18,008
   $  42,509
19,733
19,149

W. Michael McLaughlin
Senior Vice President, Operations

   2006
2005
2004
   $  86,451
83,933
81,488
   $19,761
19,986
17,488
   $  31,662
15,611
13,747

(1) Does not include the aggregate amount of perquisites or other personal benefits, which was less than $50,000 or 10% of the total annual salary and bonus reported.

 

(2) For Messrs. Ritzmann, Elmer G. McLaughlin, Kittle and W. Michael McLaughlin and for Ms. March, the 2006 amount consists of $10,025, $9,055, $7,269, $7,029 and $7,029, respectively, under the Bank’s cash profit sharing plan and $23,880, $22,537, $13,065, $12,732 and $18,232, respectively, under the Bank’s cash bonus plan.

 

(3) For Messrs. Ritzmann, Elmer G. McLaughlin, Kittle and W. Michael McLaughlin and Ms. March, the 2006 amount consists of supplemental executive retirement plan contributions of $112,115, $67,151, $30,535, $25,632 and $34,191, respectively, matching contributions under the Bank’s 401(k) Plan of $7,947, $7,813, $7,438, $5,718 and $7,839, respectively, and $1,084, $580, $326, $312 and $479, respectively, for employer contributions toward supplemental group term life insurance coverage.
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