West Bancorporation Inc DEF 14A, filed Mar 3, 2026

West Bancorporation Inc (WTBA)

DEF 14A 2026-03-03 For: 2025-12-31

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Added on June 12, 2026

About this DEF 14A

West Bancorporation Inc filed this DEF 14A on March 3, 2026.

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o			Preliminary Proxy Statement
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x			Definitive Proxy Statement
o			Definitive Additional Materials
o			Soliciting Material Under Rule 14a-12


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/s/ Sean P. McMurray						/s/ David D. Nelson
Sean P. McMurray						David D. Nelson
Board Chair						President and Chief Executive Officer
West Bancorporation, Inc.						West Bancorporation, Inc.


PROPOSAL 1	ELECTION OF DIRECTORS
	ü	The Board recommends a vote “FOR” each of the nominees listed in the table below.


ü			The positions of Chair and Chief Executive Officer are separately held.
ü			Our Chair is independent.
ü			We impose a director age limit of 73.
ü			Only independent directors serve on the Audit, Compensation, and Nominating and Corporate Governance committees of the Board.
ü			Directors and named executive officers (“NEOs”) are required to hold Company stock.
ü			Executive sessions of the independent directors are available at all Board meetings and are scheduled at least four times per year.
ü			Board and committee performance evaluations are completed annually.
ü			Ongoing and active risk oversight is performed by a separate Risk Management and Information Technology Committee.
ü			We consider diversity of skills, backgrounds, and perspectives, including diversity with respect to gender, ethnicity and areas of expertise in Board composition.
ü			Directors have a variety of experiences and skills that match the Company’s strategic direction and are important parts of the Board’s oversight of the Company.
ü			The Board and its committees have access to independent experts and advisors.
ü			The Compensation Committee utilizes the services of an independent compensation consultant.


PROPOSAL 2	APPROVE THE 2025 COMPENSATION OF THE COMPANY’S NAMED EXECUTIVE OFFICERS
	ü	The Board recommends a vote “FOR” this proposal.


ü			We pay for performance.
ü			We align executives’ financial interests with stockholders’ interests whenever possible.
ü			Our programs support the Company’s and West Bank’s values, strategy and development of employees.
ü			Our compensation practices foster a team approach among named executive officers.
ü			Our compensation practices help us attract and retain leaders capable of delivering superior business results.
ü			We provide competitive cash and total compensation opportunities and benefits compared to peers.
ü			Our Compensation Committee members are all independent.
ü			Named executive officers are subject to meaningful share ownership and retention requirements.



$32,560	$1.92	$1.00	13.47%	54.11%	0.00%
Net Income (in thousands)	Diluted Earnings Per Share	Dividends Per Share	Return On Average Equity	Efficiency Ratio	Nonperforming Assets Ratio


PROPOSAL 3	RATIFY THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.
	ü	The Board recommends a vote “FOR” this proposal.


PROXY STATEMENT TABLE OF CONTENTS

PROPOSAL 1. ELECTION OF DIRECTORS			3
GOVERNANCE AND BOARD OF DIRECTORS			10
General			10
Board Leadership Structure			11
Committees of the Board of Directors			11
Board’s Role in Risk Oversight			15
Code of Ethics			16
Corporate Responsibility			16
Stockholder Engagement			16
Director Compensation			17
Executive Officers of the Company			18
Security Ownership of Certain Beneficial Owners and Executive Officers			20
Other Beneficial Owners			21
Section 16 Reporting			21

EXECUTIVE COMPENSATION			22
Compensation Discussion & Analysis			22
Compensation Committee Report			34
Summary Compensation Table			35
Grants of Plan-Based Awards			36
Outstanding Equity Awards at Fiscal Year-End			37
Option Exercises and Stock Vested			38
Nonqualified Deferred Compensation			38
Potential Payments Upon Termination or Change in Control			39
CEO Pay Ratio			42
Pay Versus Performance			43
Compensation Committee Interlocks and Insider Participation			45

PROPOSAL 2. APPROVE THE 2025 COMPENSATION OF THE COMPANY’S NAMED EXECUTIVE OFFICERS			46

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FEES AND SERVICES			47

PROPOSAL 3. RATIFY THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM			47
Audit Fees			48
Audit Committee Report			48

GENERAL MATTERS			49
Questions and Answers			49
Certain Relationships and Related Transactions			52
2027 Stockholder Proposals			53
Stockholder Communications			54


	LISA J. ELMING Johnston, Iowa
	Age:	65
	Director of the Company Since:	2021
	Director of West Bank Since:	2021
	2025 Committee:	Risk Management and Information Technology (Chair)
	We consider Ms. Elming to be a qualified candidate for service on the Board and committee on which she serves because of her extensive knowledge and over 35 years of experience as an information technology expert.
Prior to her retirement, Ms. Elming was the Director of Information Technology at Pioneer Hybrid International, a publicly traded global provider of seeds and agriculture services, from 2012 to 2017, where she led the information technology team that supported all Pioneer business activities in the United States, Mexico and Brazil. Pioneer is now part of Corteva Agriscience.


	STEVEN K. GAER West Des Moines, Iowa
	Age:	65
	Director of the Company Since:	2011
	Director of West Bank Since:	2011
	2025 Committees:	Compensation Nominating and Corporate Governance
	We consider Mr. Gaer to be a qualified candidate for service on the Board and committee on which he serves because of his extensive knowledge of commercial real estate structuring, development, financing and underwriting.
Mr. Gaer became the President of Recoop Disaster Insurance in 2022 and a member of their Board of Managers in July 2022. Mr. Gaer currently serves on the Drake Law School Board of Counselors.
Mr. Gaer was the Chief Operating Officer and General Counsel for R&R Realty Group, Iowa’s largest commercial real estate development, management and investment company until his retirement in August 2022. Mr. Gaer was the Mayor of the City of West Des Moines, Iowa, a position he held from April 2007 until December 2021.


	DOUGLAS R. GULLING Urbandale, Iowa
	Age:	72
	Director of the Company Since:	2022
	Director of West Bank Since:	2005
	2025 Committee:	Risk Management and Information Technology
	We consider Mr. Gulling to be a qualified candidate for service on the Board and the committee on which he serves because of his experience as the retired Chief Financial Officer and Executive Vice President of the Company and his extensive experience in banking.
Mr. Gulling is the former Chief Financial Officer, Executive Vice President and Treasurer of the Company. He retired from his executive roles with the Company, effective December 31, 2021, after four decades in banking. Mr. Gulling served as a non-executive employee of West Bank as the Bank Building Construction Administrator with primary duties related to the construction of the new headquarters building in West Des Moines, Iowa until April 2024. Mr. Gulling further consulted with West Bank on completion of the headquarters construction project through July 2024. Mr. Gulling is a Certified Public Accountant (inactive).


	SEAN P. MCMURRAY Chair Clive, Iowa
	Age:	58
	Director of the Company Since:	2013
	Director of West Bank Since:	2013
	2025 Committees:	Compensation (Chair) Nominating and Corporate Governance Risk Management and Information Technology
	We consider Mr. McMurray to be a qualified candidate for service on the Board and committees on which he serves because of his extensive knowledge and experience as an information technology expert in a wide array of service industries.
Mr. McMurray is the Chief Technology Officer - Emeritus of Businessolver, Inc., a position he has held since 2017. Businessolver, Inc. is a human resources benefits administration technology company that he helped found in 1998. Mr. McMuarry has been the Chair of the Company since October, 2025.
Mr. McMurray was the Chief Executive Officer of AgSolver, Inc., a technology company, from May 2013 until October 2017. Mr. McMurray founded DataVision Resources and served as its Chief Executive Officer for 15 years until DataVision Resources was acquired by Equifax, Inc. in 2011. He served as a Senior Vice President at Equifax, Inc. until May 2013. Mr. McMurray helped to build and design the business platforms for Businessolver, Inc. and AgSolver, Inc.


	DAVID D. NELSON West Des Moines, Iowa
	Age:	65
	Director of the Company Since:	2010
	Director of West Bank Since:	2010
	2025 Committee:	—
	We consider Mr. Nelson to be a qualified candidate for service on the Board because of his experience as the Chief Executive Officer and President of the Company, his extensive experience in banking and his strong backgrounds in customer relationship building, credit and leadership development.
Mr. Nelson is the Chief Executive Officer and President of the Company and Chair and Chief Executive Officer of West Bank.
Prior to joining the Company on April 1, 2010, Mr. Nelson was the President of Southeast Minnesota Business Banking and President of Wells Fargo Bank Rochester in Rochester, Minnesota. He has more than 35 years of experience in commercial banking.
Mr. Nelson served on the Board of the American Bankers Association from 2021 to 2024 and was a member of the Government Relations Council and the Community Bankers Council. He was the chair of the Iowa Bankers Association from 2016 to 2017 and is an ex-officio member.


MEETING INFORMATION


ITEMS OF BUSINESS


HOW TO VOTE


	ROSEMARY PARSON Urbandale, Iowa
	Age:	68
	Director of the Company Since:	2022
	Director of West Bank Since:	2022
	2025 Committees:	Audit Risk Management and Information Technology
	We consider Ms. Parson to be a qualified candidate for service on the Board and the committees on which she serves because of her extensive experience as an executive leader in business operations in the financial services industry.
Ms. Parson has been the Chief Administrative Officer at EquiTrust Life Insurance Company since December 2024. Prior to that, Ms. Parson had been the Senior Vice President of Policy Administration and Community Relations since January 2014 and had been a vice president since 2003. As a charter member of the organization, Ms. Parson’s expertise includes developing administrative and cyber risk management controls and mitigation strategies as well as operating business systems controls.
Ms. Parson has over forty years of financial industry experience including ten years of merger, acquisition and company consolidation experience that she leverages as an executive leader in the organization.


	JOHN K. SORENSEN West Des Moines, Iowa
	Age:	67
	Director of the Company Since:	2025
	Director of West Bank Since:	2025
	2025 Committees:	Audit Compensation
	We consider Mr. Sorensen to be a qualified candidate for service on the Board and the committees on which he is expected to serve because of his extensive experience as an executive leader in the community banking industry.
Mr. Sorensen had been the President and CEO of the Iowa Bankers Association (“IBA”) from 1997 through his retirement in January 2025. Mr. Sorensen joined the IBA in 1986. Under Mr. Sorensen’s leadership, the IBA grew into the largest banking association in the United States with a team of over 200 professional staff and over 200 member banks. The IBA provides advocacy, workforce development and community bank solutions in insurance, mortgage and regulatory compliance.
Mr. Sorensen has served on the boards of the American Bankers Association, SHAZAM, Inc., the Iowa Business Council, the Iowa PBS Foundation, and many other community and economic development organizations. He is an executive advisory board member emeritus of the University of Northern Iowa’s David W. Wilson College of Business and a past recipient of the Iowa Association of Business and Industry’s Leadership for Iowa Award.
Mr. Sorensen is a Certified Association Executive (inactive).


	THERESE M. VAUGHAN West Des Moines, Iowa
	Age:	69
	Director of the Company Since:	2019
	Director of West Bank Since:	2019
	2025 Committees:	Audit Nominating and Corporate Governance (Chair)
	We consider Dr. Vaughan to be a qualified candidate for service on the Board and committees on which she serves because of her extensive experience with public companies and her leadership in the financial services industry.
Dr. Vaughan was the Professional Director of the Vaughan Institute of Risk Management at the University of Iowa’s Tippie College of Business from September 2021 to September 2023.
Dr. Vaughan was an Executive in Residence at Drake University until August 2021. She was the Robb B. Kelley Visiting Distinguished Professor of Insurance and Actuarial Science at Drake University from August 2017 to August 2019. From June 2014 to June 2017, Dr. Vaughan served as the Interim Dean and then the Dean of Drake University’s College of Business and Public Administration.
Dr. Vaughan is a leading expert in insurance regulation, having served as Chief Executive Officer of the National Association of Insurance Commissioners from February 2009 to November 2012 and as Commissioner of the Iowa Insurance Division, directing all insurance business transacted in the State of Iowa, from August 1994 to December 2004. Dr. Vaughan is a Certified Director of the NACD (NACD.DC®), a Chartered Property Casualty Underwriter and an Associate of the Casualty Actuarial Society. Dr. Vaughan is an audit committee financial expert.
Dr. Vaughan has served on the boards of directors of Verisk Analytics, Inc., a data analytics provider and public company, since February 2013, Wellmark Blue Cross and Blue Shield since May 2013 and Hamilton Insurance Group, LTD since March 2024. Dr. Vaughan serves on the audit, governance, corporate sustainability and nominating committees for Verisk Analytics, Inc., on the audit and compliance committees of Wellmark Blue Cross and Blue Shield and on the nominating and corporate governance, compensation and personnel, and underwriting and risk committees of Hamilton Insurance Group, LTD.
Dr. Vaughan served on the board of directors of American International Group, Inc., a public company that is a global organization until her retirement from that board on January 31, 2024. Dr. Vaughan also has previously served on the boards of directors of Validus Holdings, Ltd., an insurance company and public company, Principal Financial Group, Inc., an investment management company and public company, and Endurance Specialty Holdings Ltd., a holding company for insurance companies and a public company.


l Board independence...................			If all nominees are elected, 6 of our 8 directors will be independent.
l Board performance.....................			The Board and committees annually assess their performance through self-evaluation.
l Board committees.......................			Only independent directors serve on committees of the Board, with the exception of Mr. Gulling, who serves on the Risk Management and Information Technology Committee.
l Leadership structure...................			The positions of Chair and CEO are separately held.
l Risk oversight.............................			The Board is responsible for monitoring key risks and overseeing management.
l Open communication.................			We encourage open communication among our stockholders, directors and management.
l Stock ownership.........................			Directors and named executive officers are required to hold Company stock. Non-employee directors are required to hold Company stock totaling three times their annual cash compensation.
l Accountability to stockholders...			We elect all directors annually.
l Succession planning...................			The Board and the Nominating and Corporate Governance Committee actively plan for our director and management succession.
l Executive sessions......................			Executive sessions of the independent directors are available at all meetings and are held at least four times per year.
l Continuing education.................			Continuing education opportunities, including cybersecurity, corporate governance and other emerging relevant topics for the Board, are provided periodically throughout the year.


AUDIT COMMITTEE						Reviews with management the Company’s major financial risk exposures, including policies regarding employee conduct, and the steps management has taken to monitor and control such exposures, including the Company’s risk assessment and risk management policies related to controls over financial reporting. These reviews are completed at least annually.
						Holds quarterly executive sessions with both the Company’s independent registered public accountants and internal auditors concerning any topic of concern to the registered public accountants or internal auditors.
						Internal auditing is done by an independent public accounting firm retained by the Audit Committee.
						Retains, and receives an annual report from, an independent public accounting firm employed specifically to review West Bank’s trust department.
						Also functions as West Bank’s Audit Committee.

COMPENSATION COMMITTEE						Reviews at least annually all compensation policies, practices and plans of the Company to determine whether they encourage excessive risk-taking or pose any other threat to the safety and soundness of the Company or West Bank, or are otherwise inconsistent with the stockholders’ long-term best interests.
						Reviews matters relating to human capital management including company culture, talent retention and development, and pay equity.

NOMINATING AND CORPORATE GOVERNANCE COMMITTEE						Reviews at least annually all policies and practices related to the governance of the Company.
						Annually reviews Board and management succession plans.
						Reviews and recommends Board candidates.
						Oversees the Company’s practices and reporting with respect to corporate responsibility matters.

RISK MANAGEMENT AND INFORMATION TECHNOLOGY COMMITTEE						Identifies and assesses the risks and technology issues, including cybersecurity risks, facing the Company and oversees the development, implementation and monitoring of the Company’s risk management process and technology plan.
						Oversees the division of risk-related responsibilities to each of the other Board committees.
						Oversees and reviews with management the Company’s credit, market, liquidity, reputation, transactional, operational, regulatory, information technology, cybersecurity, strategic and similar risks.
						On an annual basis, reviews risk assessments, policies and procedures regarding risk management, information technology and safety and liquidity.


We recognize that understanding our corporate responsibility practices are important to our stockholders, customers and employees. Please visit the Corporate Governance page of our investor relations website to learn more https://ir.westbankstrong.com/overview/corporate-governance/default.aspx


		COMMITTEES
	Board	Audit	Compensation	Nominating and Corporate Governance	Risk Management and Information Technology	Loan	Trust
COMPANY:
Board member annual retainer	$22,750
Committee chair annual retainer		$7,500	$6,000	$6,000	$6,000
Committee membership annual retainer		$5,000	$3,750	$3,750	$3,750
Equity award	$32,500
Board chair annual fee	$30,000
WEST BANK:
Board member annual retainer	$9,750
Committee chair annual retainer						$6,000	$6,000
Committee membership annual retainer						$3,750	$3,750


Name	Fees Earned or Paid in Cash by the Company	Fees Earned or Paid in Cash by West Bank	Stock Awards(2)				Other		Total
Lisa J. Elming	$32,504	$13,505	$	28,164	$	—	$	—	$74,173
Steven K. Gaer	27,442	19,505	28,164				—		75,111
Douglas R. Gulling	26,504	13,505	28,164				—		68,173
Sean P. McMurray	44,694	9,753	28,164				—		82,611
George D. Milligan	51,504	13,505	28,164				—		93,173
James W. Noyce	36,508	9,753	28,164				—		74,425
Rosemary Parson	31,508	9,753	28,164				—		69,425
Steven T. Schuler(1)	13,003	3,251	—				—		16,254
John K. Sorensen	22,901	7,315	28,164				—		58,380
Therese M. Vaughan	37,508	13,505	28,164				—		79,177
Philip Jason Worth(1)	7,584	7,753	—				—		15,337


Name and Address	Shares Beneficially Owned	Percent of Total Shares Outstanding
FMR LLC (1) 245 Summer Street Boston, MA 02210	1,384,091	8.17	%
BlackRock, Inc. (2) 50 Hudson Yards New York, NY 10001	1,226,891	7.24	%
The Jay Newlin Trust (3) 2661 86th Street Urbandale, IA 50322	1,041,952	6.15	%
The Vanguard Group (4) 100 Vanguard Blvd. Malvern, PA 19355	875,719	5.17	%


David D. Nelson			President and Chief Executive Officer of the Company Chief Executive Officer of West Bank
Jane M. Funk			Executive Vice President, Treasurer and Chief Financial Officer of the Company Executive Vice President and Chief Financial Officer of West Bank
Harlee N. Olafson			Executive Vice President and Chief Risk Officer of the Company Executive Vice President, Chief Risk Officer and Chief Operating Officer of West Bank
Brad L. Winterbottom			Executive Vice President of the Company President of West Bank
Bradley P. Peters			Executive Vice President of the Company Executive Vice President and Minnesota Group President of West Bank


Name	Base Salary 2024	Base Salary 2025
David D. Nelson	$590,000	$608,000
Jane M. Funk	325,000	335,000
Harlee N. Olafson	375,000	387,000
Brad L. Winterbottom	375,000	387,000
Bradley P. Peters	325,000	335,000


What We Do						What We Do Not Do
ü Strong emphasis on pay-for-performance						ü No perquisites for executives
ü Maintain rigorous stock ownership guidelines						ü No golden parachute tax gross-ups
ü Engage independent compensation consultants						ü No hedging or pledging of Company stock
ü Annual outreach with our institutional stockholders						ü No dividends paid or accumulated on unvested RSUs
ü Annual say-on-pay vote						ü No single-trigger cash or time-based equity payments in
ü Clawback policy for incentive compensation						the event of a change in control
ü Performance-based equity awards for NEOs
ü 3-year holding period on vested RSUs
ü Compensation Committee must be independent
ü Offer deferred compensation program participation


2025 Peer Group
Bank First Corporation	First Business Financial Services, Inc.	LCNB Corp.
Bridgewater Bancshares, Inc.	First Financial Corp.	Mercantile Bank Corporation
ChoiceOne Financial Services, Inc.	First Mid Bancshares, Inc.	MidWestOne Financial Group, Inc.
Civista Bancshares, Inc.	German American Bancorp, Inc.	Nicolet Bankshares, Inc.
Equity Bancshares, Inc.	HBT Financial, Inc.	Peoples Bancorp, Inc.
Farmers National Banc Corp.	Hills Bancorporation	Southern Missouri Bancorp, Inc.
Farmers & Merchants Bancorp	Isabella Bank Corporation


							Peer Group
Key Metrics	Weight	Company Results		Company Percentile Rank	Payout as Percentage of Target	Payout as Percentage of Target	Maximum75th Percentile	Target 50th Percentile	Threshold 25th Percentile
					CEO	Other NEOs	(%)	(%)	(%)
Return on Average Equity	1/3	13.47	%	90.5	133.33	150.00	12.43	10.50	9.38
Efficiency Ratio	1/3	54.11	%	66.7	125.80	138.71	52.94	58.12	61.19
Nonperforming Assets Ratio	1/3	0.00	%	100.0	133.33	150.00	0.21	0.31	0.51
Weighted Average Total Payout					130.82	146.24


Name						Cash Incentive Payout
David D. Nelson						$477,245
Jane M. Funk						195,956
Harlee N. Olafson						226,373
Brad L. Winterbottom						226,373
Bradley P. Peters						195,956


Performance RSU Award Opportunities (as approximate percentage of maximum number of Performance RSUs subject to the performance measure)
	Return on Average Equity (1/3 of Performance RSUs)	Efficiency Ratio (1/3 of Performance RSUs)	Nonperforming Assets to Total Assets Ratio (1/3 of Performance RSUs)
Threshold	33%	33%	33%
Target	67%	67%	67%
Maximum	100%	100%	100%


CEO			3x base salary
Other NEOs or Executive Vice Presidents			3x base salary
Non-employee Directors			3x annual cash compensation


Name and Principal Positions	Year	Salary (1)	Bonus (2)	Stock Awards (3)	Non-Equity Incentive Plan Compensation (4)	Change in Pension Value and Nonqualified Deferred Compensation Earnings (5)	All Other Compensation (6)	Total
David D. Nelson	2025	$608,000	$12,160	$303,493	$477,245	$20,595	$35,000	$1,456,493
President and Chief Executive Officer of the Company and Chief Executive Officer of West Bank	2024	590,000	11,800	234,473	359,192	23,478	27,600	1,246,543
	2023	590,000	11,800	288,788	371,085	15,315	26,400	1,303,388

Jane M. Funk	2025	$335,000	$6,700	$267,788	$195,956	$3,213	$33,500	$842,157
Executive Vice President, Treasurer and Chief Financial Officer of the Company and Executive Vice President and Chief Financial Officer of West Bank	2024	325,000	6,500	206,888	132,860	4,304	26,000	701,552
	2023	325,000	6,500	254,813	139,411	2,532	26,000	754,256


Harlee N. Olafson	2025	$387,000	$7,740	$267,788	$226,373	—	$35,000	$923,901
Executive Vice President and Chief Risk Officer of the Company and Executive Vice President, Chief Risk Officer and Chief Operating Officer of West Bank	2024	375,000	7,500	206,888	153,300	—	27,600	770,288
	2023	375,000	7,500	254,813	160,859	—	26,400	824,572


Brad L. Winterbottom	2025	$387,000	$7,740	$267,788	$226,373	—	$35,000	$923,901
Executive Vice President of the Company and President of West Bank	2024	375,000	7,500	206,888	153,300	—	27,600	770,288
	2023	375,000	7,500	254,813	160,859	—	26,400	824,572

Bradley P. Peters	2025	$335,000	$6,700	$267,788	$195,956	$5,109	$33,500	$844,053
Executive Vice President of the Company and Executive Vice President and Minnesota Market President of West Bank	2024	325,000	6,500	206,888	132,860	7,126	26,000	704,374
	2023	325,000	6,500	254,813	139,411	5,912	26,000	757,636


			Estimated Future Payouts Under Non-Equity Incentive Plan Awards (1)			Estimated Future Payouts Under Equity Incentive Plan Awards(2)			All Other Stock Awards: Number of Shares of Stock or Units (#)	Grant Date Fair Value of Stock Awards


Name	Type of Award	Grant Date	Threshold	Target	Maximum	Threshold (#)	Target (#)	Maximum (#)
David D. Nelson	Annual Cash Incentive		$243,200	$364,800	$486,400
	Time RSUs(3)	2/17/2025							8,500	$151,895
	Performance RSUs(4)	2/17/2025				2,833	5,667	8,500		151,598
Jane M. Funk	Annual Cash Incentive		$67,000	$134,000	$201,000
	Time RSUs(3)	2/17/2025							7,500	$134,025
	Performance RSUs(4)	2/17/2025				2,500	5,000	7,500		133,763
Harlee N. Olafson	Annual Cash Incentive		$77,400	$154,800	$232,200
	Time RSUs(3)	2/17/2025							7,500	$134,025
	Performance RSUs(4)	2/17/2025				2,500	5,000	7,500		133,763
Brad L. Winterbottom	Annual Cash Incentive		$77,400	$154,800	$232,200
	Time RSUs(3)	2/17/2025							7,500	$134,025
	Performance RSUs(4)	2/17/2025				2,500	5,000	7,500		133,763
Bradley P. Peters	Annual Cash Incentive		$67,000	$134,000	$201,000
	Time RSUs(3)	2/17/2025							7,500	$134,025
	Performance RSUs(4)	2/17/2025				2,500	5,000	7,500		133,763


		Stock Awards
Name	Grant Date	Number of Shares or Units of Stock that Have Not Vested (#)	Market Value of Shares or Units of Stock That Have Not Vested ($)(1)	Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)	Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) (1)
David D. Nelson	2/17/2025	8,500(2)	$188,615	8,500(7)	$188,615
	2/19/2024	6,800(3)	150,892	8,500(8)	188,615
	2/20/2023	5,100(4)	113,169	8,500(9)	188,615
	3/21/2022	3,000(5)	66,570
	1/25/2021	1,500(6)	33,285
Jane M. Funk	2/17/2025	7,500(2)	$166,425	7,500(7)	$166,425
	2/19/2024	6,000(3)	133,140	7,500(8)	166,425
	2/20/2023	4,500(4)	99,855	7,500(9)	166,425
	3/21/2022	2,400(5)	53,256
	1/25/2021	1,500(6)	33,285
Harlee N. Olafson	2/17/2025	7,500(2)	$166,425	7,500(7)	$166,425
	2/19/2024	6,000(3)	133,140	7,500(8)	166,425
	2/20/2023	4,500(4)	99,855	7,500(9)	166,425
	3/21/2022	3,000(5)	66,570
	1/25/2021	1,500(6)	33,285
Brad L. Winterbottom	2/17/2025	7,500(2)	$166,425	7,500(7)	$166,425
	2/19/2024	6,000(3)	133,140	7,500(8)	166,425
	2/20/2023	4,500(4)	99,855	7,500(9)	166,425
	3/21/2022	3,000(5)	66,570
	1/25/2021	1,500(6)	33,285
Bradley P. Peters	2/17/2025	7,500(2)	$166,425	7,500(7)	$166,425
	2/19/2024	6,000(3)	133,140	7,500(8)	166,425
	2/20/2023	4,500(4)	99,855	7,500(9)	166,425
	3/21/2022	2,400(5)	53,256
	1/25/2021	2,000(6)	44,380