fncb20170424_defa14a.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

(Rule 14a-101)

 

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

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FNCB Bancorp, Inc.

(Name of Registrant as Specified in Its Charter)

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FNCB Bancorp, Inc.

Supplement to Proxy Statement dated April 17, 2017

 

This supplement dated April 20, 2017 ( the “Supplement”), to the definitive proxy statement on Schedule 14A of FNCB Bancorp, Inc. (“FNCB”) filed with the Securities and Exchange Commission on April 17, 2017 (the “Proxy Statement”) relating to FNCB’s 2017 Annual Meeting of Shareholders to be held on May 17, 2017, is solely to correct certain inadvertent errors with respect to the 2016 compensation data set forth in the “Summary Compensation Table” and the annual contributions to the SERP set forth in the “Schedule of All Other Compensation.” Both tables appear on page 32 of the Proxy Statement.

 

Set forth below are an amended and restated Summary Compensation Table and an amended and restated Schedule of All Other Compensation, which replace in their entirety the Summary Compensation Table and Schedule of All Other Compensation table appearing on page 32 of the Proxy Statement. The footnotes to the Summary Compensation Table are unrevised and are presented solely for completeness.

 

Summary Compensation Table

 

Shown below is information concerning the annual compensation for services in all capacities to FNCB and the Bank for the fiscal years ended December 31, 2016, 2015, and 2014 paid to or earned by our named executive officers for 2016.

 

Name and Principal Position

  

Year

  

Salary

    

Non Equity

Incentive Plan

Awards (1)

    

Stock Awards

(2)

    

Change in

pension value

and non-

qualified

deferred

compensation

earnings (3)

    

All Other

Compensation

    

Total

  

Gerard A. Champi, President and Chief

  

2016

   $ 275,477     $ 80,000     $ 52,535     $ 7,986     $ 96,269       512,267  
Executive Officer of FNCB and the Bank and  

2015

     252,292       45,000       72,133       5,614       65,545       440,584  
former Chief Operating Officer of the Bank (4)  

2014

     242,455       -       42,511       3,968       14,438       303,372  
                                                     

James M. Bone, Jr., Executive Vice President

  

2016

   $ 222,333     $ 40,000     $ 35,945     $ 2,212     $ 51,975       352,465  
and Chief Financial Officer/  

2015

     206,746       38,000       58,333       710       62,557       366,346  
Treasurer of FNCB and the Bank  

2014

     195,504       -       35,811       502       12,962       244,779  
                                                     

Brian C. Mahlstedt, Executive Vice President

  

2016

   $ 205,408     $ 37,000     $ 33,180     $ 2,649     $ 48,836       327,073  
and Chief Lending Officer of the Bank  

2015

     189,885       35,000       52,008       1,505       41,131       319,529  
   

2014

     177,517       -       23,081       1,064       9,733       211,395  
                                                     

Mary C. Cummings, Senior Vice President

 

2016

   $ 174,288     $ 18,000     $ 17,143     $ -     $ 3,666       213,097  
and General Counsel of the Bank  

2015

     162,823       18,000       27,571       -       1,254       209,648  
   

2014

     153,773       -       18,391       -       -       172,164  
                                                     

Lisa L. Kinney, Senior Vice President

 

2016

   $ 144,208     $ 14,000     $ 13,825     $ 550     $ 5,328       177,911  
and Retail Lending Officer of the Bank                                                    
                                                     
                                                     

Steven R. Tokach, Former President and Chief

  

2016

   $ 203,746     $ -     $ 25,486     $ -     $ 6,332       235,564  
Executive Officer of FNCB and the Bank (5)  

2015

     318,292       55,000       91,108       -       7,021       471,421  
   

2014

     308,422       -       51,221       -       9,600       369,243  

___________________________

(1) The amounts listed represent the amounts earned by the named executive officers under FNCB’s EIP for each fiscal year.

 

(2) The amounts listed represent the grant date fair market value of the shares computed in accordance with ASC Topic 718. Additional information about FNCB’s accounting for stock-based compensation is contained in Note 2 and Note 13 of FNCB’s Annual Report on Form 10-K filed with the SEC for the fiscal year ended December 31, 2016.

 

(3) The amounts listed reflect on the earnings on the balances in the named executive officers non-qualified deferred compensation plan accounts.

 

(4) Mr. Champi was appointed President and Chief Executive Officer of FNCB and the Bank effective July 1, 2016. Previously, Mr. Champi served as Chief Operating Officer of FNCB and the Bank.

 

(5) Mr. Tokach retired as the President and Chief Executive Officer of FNCB and the Bank effective June 30, 2016.

 

 
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The following table provides the detail for the amount presented under “All Other Compensation” paid to or earned by each of FNCB’s named executive officers for the 2016 fiscal year.

 

 

   

Gerard A.

    

James M.

    

Brian C.

    

Mary C.

    

Lisa L.

    

Steven R.

  

Benefits and Perquisites

  

Champi

    

Bone, Jr.

    

Mahlstedt

    

Cummings

    

Kinney

    

Tokach

  

FNCB annual contributions to SERP

   $ 35,000     $ 25,000     $ 20,000     $ -     $ -     $ -  

FNCB performance-based contribution to SERP

     45,000       15,000       17,000       -       -       -  

FNCB contributions to 401(k) Plan

     5,300       4,145       4,108       3,666       2,944       -  

Automobile allowance

     3,245       2,845       3,258       -       2,384       6,077  

Country club dues

     7,580       4,850       4,470       -       -       255  

Split dollar life insurance premiums

     144       135       -       -       -       -  

Total

   $ 96,269     $ 51,975     $ 48,836     $ 3,666     $ 5,328     $ 6,332  

 

 

 

Except as described above, this Supplement does not modify, amend, supplement or otherwise affect the Proxy Statement. This Supplement should be read in conjunction with the Proxy Statement. From and after the date of this Supplement, any references to the “Proxy Statement” are to the Proxy Statement as supplemented hereby. The date of this Supplement is April 20, 2017, and the date on which FNCB first intends to release this Supplement to its shareholders is April 24, 2017.

 

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