First Bancorp CEO Jerry Ocheltree's 2007 pay jumps 53% to $644K
First Bancorp reports 2007 executive compensation
By ExecPay News
Published: April 3, 2008
First Bancorp reported fiscal year 2007 executive compensation information on April 3, 2008.
In 2007, five executives at First Bancorp received on average a compensation package of $475K, a 11% increase compared to previous year.
Average pay of disclosed executives at First Bancorp
Jerry L. Ocheltree, Chief Executive Officer, received $644K in total, which increased by 53% compared to 2006. 49% of Ocheltree's compensation, or $313K, was in salary. Ocheltree also received $82K of change in pension value and nonqualified deferred compensation earnings, $207K in non-equity incentive plan, as well as $43K in other compensation.
Anna G. Hollers, Chief Operating Officer, received a compensation package of $562K, which increased by 21% compared to previous year. 45% of the compensation package, or $255K, was in salary.
Teresa C. Nixon, Executive Vice President Chief Lending Officer, earned $439K in 2007, a 23% increase compared to previous year.
John F. Burns, Executive Vice President, received $390K in 2007, which increases by 23% compared to 2006.
Eric P. Credle, Chief Financial Officer, earned $343K in 2007, a 29% increase compared to previous year.
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Source: SEC filing on April 3, 2008.