Primis Financial Corp

In 2022, Dennis J. Zember, Jr., the President and Chief Executive Officer of Primis Financial Corp., received a total compensation of approximately $1.43 million. This comprehensive package included a salary of $639,112, augmented by a significant stock award valued at $498,102 and incentive plan compensation of $250,000. Other components of his compensation package included $45,963 classified as 'all other compensation'. Notably, Zember did not receive a bonus or option award that year, a decision that may reflect the company's specific performance and retention strategies[1].


Looking back to 2020, Stephen B. Weber, then Executive Vice President and Chief Strategy Officer, received a total compensation of $577,848. His compensation contrasts with Zember’s primarily due to a notable $100,000 bonus and a $126,250 stock award, showcasing a compensation structure that focuses on strategic performance incentives. Additionally, the ‘all other compensation’ category accounted for $73,939 in Weber's package[2].

In 2019 and 2018, Joe A. Shearin, former President and CEO, received total compensations of $1.31 million and $1.11 million, respectively. Shearin’s compensation was heavily influenced by annual bonuses of $200,000 each year, consistent stock awards, and notable values under the 'all other compensation' category. His compensation did not include option awards or incentive plan compensation, suggesting a conventional executive compensation structure with a focus on salary and bonuses[3][4].

In comparison, in 2021, Jeffrey L. Karafa, then the Executive Vice President and former Chief Financial Officer, earned a total compensation of $581,392, which included a $250,000 bonus and $40,000 of incentive plan compensation, adding a layer of variable pay tied to performance and objectives in his role[5].

This varied approach to executive compensation at Primis Financial reflects broader trends within the State Commercial Banks industry, where companies tailor their compensation strategies to align with corporate goals, shareholder expectations, and industry norms.

As of the date of this article, Primis Financial Corp. shares are trading at $12.45, with the stock exhibiting modest growth, reinforced by a 0.7282% increase. Despite a wide 52-week range between $9.52 and $13.69, Primis remains a significant player in the NASDAQ market with a market capitalization of approximately $307.8 million. The company's financial indicators, such as a negative earnings per share (EPS) of -0.04, indicate profitability challenges, yet the company's stock performance has outpaced its 50 and 200-day moving averages[6].

Primis Financial Corp.'s executive compensation practices, along with its market performance metrics, provide insight into how the company navigates the competitive and regulatory complexities of the financial services industry.

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1. U.S. Securities and Exchange Commission [Link](https://www.sec.gov/Archives/edgar/data/1325670/000155837024015070/0001558370-24-015070-index.htm)
2. U.S. Securities and Exchange Commission [Link](https://www.sec.gov/Archives/edgar/data/1325670/000155837023005849/0001558370-23-005849-index.htm)
3. U.S. Securities and Exchange Commission [Link](https://www.sec.gov/Archives/edgar/data/1325670/000110465920046173/0001104659-20-046173-index.htm)
4. U.S. Securities and Exchange Commission [Link](https://www.sec.gov/Archives/edgar/data/1325670/000110465921051397/0001104659-21-051397-index.htm)
5. U.S. Securities and Exchange Commission [Link](https://www.sec.gov/Archives/edgar/data/1325670/000155837022005499/0001558370-22-005499-index.htm)
6. Current stock information as per provided data.