In accordance with the rules adopted by the SEC, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 we are providing the following disclosure regarding the relationship between executive compensation actually paid to our NEOs and certain financial performance of QCR Holdings for the fiscal years listed below.
| Value of Initial Fixed $100 Investment Based on: |
||||||||||
|
Year |
Summary Compensation Table Total for CEO Mr. Helling(1) |
Compensation Actually Paid to CEO Mr. Helling(2) |
Summary Compensation Table Total for CEO Mr. Gipple(1) |
Compensation Actually Paid to CEO Mr. Gipple(2) |
Average |
Average Compensation Actually Paid to Non-CEO NEOs(2)(3) |
Total |
Peer Group Total Shareholder Return(4) |
Net Income in Thousands |
Adjusted |
|
2025 |
$1,419,359 |
$1,027,985 |
$1,713,726 |
$1,533,696 |
$537,547 |
$531,439 |
$215 |
$196 |
$127,194 |
$7.64 |
|
2024 |
$1,579,631 |
$1,609,228 |
- |
- |
$857,583(6) |
$965,847 |
$207 |
$148 |
$113,850 |
$7.03 |
|
2023 |
$1,798,583 |
$1,342,391 |
- |
- |
$710,698 |
$682,704 |
$150 |
$108 |
$113,558 |
$6.82 |
|
2022 |
$1,855,117 |
$1,152,003 |
- |
- |
$797,011 |
$601,280 |
$127 |
$109 |
$99,066 |
$6.89 |
|
2021 |
$1,939,141 |
$1,458,808 |
- |
- |
$810,346 |
$856,847 |
$142 |
$138 |
$98,905 |
$6.37 |
|
(1) |
On May 22, 2025, Mr. Gipple transitioned to the role of President and Chief Executive Officer of QCR Holdings. Prior to such date, Mr. Helling served as our Chief Executive Officer. |
|
(2) |
See the table immediately following these footnotes for a reconciliation of the Summary Compensation Table compensation and the Compensation Actually Paid to the CEO and Non-CEO NEOs. |
|
(3) |
Our non-CEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Messrs. Anderson and McNew, and Mses. Winter and Ekizian; (ii) for 2024, Messrs. Gipple and McNew, Ms. Winter and John H. Anderson; (iii) for 2023 and 2022, Messrs. Gipple, Gibson, and McNew and John H. Anderson; and (iv) for 2021, Messrs. Gipple, and McNew, John H. Anderson, and Dana L. Nichols. |
|
(4) |
Reflects the cumulative total shareholder return based on the KBW NASDAQ Bank Index, which we also use in the stock performance graph included in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC. |
|
(5) |
Adjusted earnings per share is a non-GAAP financial measure. As calculated from our audited financial statements, adjusted earnings per share equals net income (i) less (A) securities gains (losses), (B) fair value gain (loss) on derivatives, (C) post-acquisition compensation, transition and integration costs, and (D) goodwill impairment and restructuring expense and (ii) divided by the weighted average common and common equivalent shares outstanding. |
|
(6) |
The Average Summary Compensation Table Total for Non-CEO NEOs in 2024 includes the incremental fair value of the unvested equity awards that vested on John H. Anderson’s retirement due to the modification of such awards. |
The following table reconciles the amounts reported under the “Total” column of the Summary Compensation Table with the Compensation Actually Paid in the above table:
|
CEO |
Non-CEO NEOs |
||||||||||
|
2025 |
2025 |
2024 |
2023 |
2022 |
2021 |
2025 |
2024 |
2023 |
2022 |
2021 |
|
|
Mr. Gipple |
Mr. Helling |
Mr. Helling |
Mr. Helling |
Mr. Helling |
Mr. Helling |
||||||
|
Total Compensation as reported in the Summary Compensation Table (“SCT”) |
1,713,726 |
1,419,359 |
1,579,631 |
1,798,583 |
1,855,117 |
1,939,141 |
537,547 |
857,583 |
710,698 |
797,011 |
810,346 |
|
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year |
(490,389) |
(273,146) |
(215,632) |
(303,489) |
(294,582) |
(286,937) |
(65,681) |
(117,026) |
(105,819) |
(113,945) |
(134,808) |
|
- Pension values as reported in the SCT |
(179,172) |
(440,505) |
(222,806) |
(500,083) |
(561,512) |
(725,382) |
0 |
(34,035) |
(74,792) |
(154,216) |
(150,024) |
|
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year |
474,327 |
304,086 |
307,101 |
251,617 |
203,565 |
274,001 |
73,604 |
130,742 |
101,531 |
114,802 |
195,959 |
|
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years |
(2,312) |
(5,190) |
138,379 |
77,112 |
(61,581) |
177,669 |
(14,031) |
115,766 |
40,892 |
(38,590) |
96,761 |
|
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied during Fiscal Year |
(1,384) |
0 |
0 |
6,245 |
(10,552) |
61,734 |
0 |
8,122 |
7,377 |
(8,405) |
34,570 |
|
Pension Benefit Service Cost |
18,900 |
23,381 |
22,555 |
12,406 |
21,548 |
18,582 |
0 |
4,695 |
2,817 |
4,623 |
4,043 |
|
Compensation Actually Paid (“CAP”) |
1,533,696 |
1,027,985 |
1,609,228 |
1,342,391 |
1,152,003 |
1,458,808 |
531,439 |
965,847 |
682,704 |
601,280 |
856,847 |
The following table reconciles the amounts reported under the “Total” column of the Summary Compensation Table with the Compensation Actually Paid in the above table:
|
CEO |
Non-CEO NEOs |
||||||||||
|
2025 |
2025 |
2024 |
2023 |
2022 |
2021 |
2025 |
2024 |
2023 |
2022 |
2021 |
|
|
Mr. Gipple |
Mr. Helling |
Mr. Helling |
Mr. Helling |
Mr. Helling |
Mr. Helling |
||||||
|
Total Compensation as reported in the Summary Compensation Table (“SCT”) |
1,713,726 |
1,419,359 |
1,579,631 |
1,798,583 |
1,855,117 |
1,939,141 |
537,547 |
857,583 |
710,698 |
797,011 |
810,346 |
|
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year |
(490,389) |
(273,146) |
(215,632) |
(303,489) |
(294,582) |
(286,937) |
(65,681) |
(117,026) |
(105,819) |
(113,945) |
(134,808) |
|
- Pension values as reported in the SCT |
(179,172) |
(440,505) |
(222,806) |
(500,083) |
(561,512) |
(725,382) |
0 |
(34,035) |
(74,792) |
(154,216) |
(150,024) |
|
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year |
474,327 |
304,086 |
307,101 |
251,617 |
203,565 |
274,001 |
73,604 |
130,742 |
101,531 |
114,802 |
195,959 |
|
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years |
(2,312) |
(5,190) |
138,379 |
77,112 |
(61,581) |
177,669 |
(14,031) |
115,766 |
40,892 |
(38,590) |
96,761 |
|
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years for which Applicable Vesting Conditions were Satisfied during Fiscal Year |
(1,384) |
0 |
0 |
6,245 |
(10,552) |
61,734 |
0 |
8,122 |
7,377 |
(8,405) |
34,570 |
|
Pension Benefit Service Cost |
18,900 |
23,381 |
22,555 |
12,406 |
21,548 |
18,582 |
0 |
4,695 |
2,817 |
4,623 |
4,043 |
|
Compensation Actually Paid (“CAP”) |
1,533,696 |
1,027,985 |
1,609,228 |
1,342,391 |
1,152,003 |
1,458,808 |
531,439 |
965,847 |
682,704 |
601,280 |
856,847 |
Relationship Between Pay and Financial Performance
The graph below shows the relationship between CAP and QCR Holdings’ and its peer group’s total shareholder return.
The graph below shows the relationship between CAP and QCR Holdings’ net income.
The graph below shows the relationship between CAP and QCR Holdings’ adjusted earnings per share.
The most important financial performance measures used by QCR Holdings in setting compensation for the CEO and all non-CEO NEOs for 2025 are listed in the table below.
|
Adjusted earnings per share(1) |
|
Net income |
|
Total nonperforming assets to total assets ratio |
|
Adjusted loan growth(2) |
|
Noninterest income |
|
Return on average equity |
|
(1) |
Adjusted earnings per share is a non-GAAP measure calculated from our audited financial statements as set forth in footnote 5 of the Pay Versus Performance table. |
|
(2) |
Adjusted loan growth is a non-GAAP measurement. As calculated from our audited financial statements, adjusted loans are defined as total loans/leases receivable held for investment less those loans/leases generated by m2 or our specialty finance lending business. |