0001297341 2025-07-01 2026-06-30 0001297341 2023-07-01 2024-06-30 0001297341 2024-07-01 2025-06-30 0001297341 2026-06-30 2025-07-01 2026-06-30 iso4217:USD DEF 14A 0001297341 false KENTUCKY FIRST FEDERAL BANCORP true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;">Incentive-Compensation Recoupment Policy (Clawback Policy)</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">The Compensation Committee of the Board of Directors adopted the Incentive-Compensation Recoupment Policy, which is designed to comply with Section 10D-1 of the Exchange Act and Rule 5608 of the Nasdaq Listing Rules. The policy requires the Company to recoup any erroneously awarded incentive-based compensation received by certain executives, including each named executive officer, in the event the Company is required to prepare an accounting restatement due to material noncompliance with any financial reporting requirement under the federal securities laws. The policy generally applies to all incentive-based compensation received by a covered executive during the three completed fiscal years immediately preceding the date that the Company is required to prepare a restatement after the policy’s effective date. A copy of this policy can be found as Exhibit 97 to our Annual Report on Form 10-K for the year ended June 30, 2025.</p> Our Company does not currently grant stock options as part of our equity compensation programs. If stock options were to be granted in the future, we would not grant such options in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock. In addition, we generally do not grant stock options (i) during trading blackout periods established under our insider trading policy, or (ii) at any time during the four business days prior to or the one business day following the filing of our periodic reports or the filing or furnishing of a Form 8-K that discloses material nonpublic information. These restrictions do not apply to other types of equity awards that do not include an exercise price related to the market price of our common stockon the date of grant. Our Company does not currently grant stock options as part of our equity compensation programs. true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;">Pay Versus Performance</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">In accordance with the rules of the Securities and Exchange Commission, the following tables describe how the compensation of our named executive officers aligns with our performance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="border-bottom: Black 1.5pt solid; text-align: left;"><span style="font-weight: bold;">Year</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Summary<br/> Compensation<br/> Table Total for <br/> PEO ($) (1)(2)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Compensation<br/> Actually Paid to<br/> PEO <br/> ($)(3)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Average<br/> Summary<br/> Compensation<br/> Table Total for<br/> non-PEO<br/> Named<br/> Executive<br/> Officers<br/> ($)(2)(4)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Average<br/> Compensation<br/> Actually Paid<br/> to non-PEO<br/> Named<br/> Executive<br/> Officers<br/> ($)(2)(5)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Value of Initial <br/> Fixed $100<br/> Investment Based<br/> on Total<br/> Shareholder<br/> Return<br/> ($)(6)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid;"><span style="font-weight: bold;">Net Income ($)<br/> (in thousands)(7)</span></td> <td style="padding-bottom: 1.5pt;"><span style="font-weight: bold;"> </span></td> </tr><tr style="vertical-align: bottom;"><td style="text-align: left;"> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 28%; text-align: left; padding-bottom: 1.5pt;">2026</td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">193,766</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">193,776</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">173,559</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">173,559</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">88.16</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> <td style="width: 1%; padding-bottom: 1.5pt;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">1,909</td> <td style="width: 1%; padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">2025</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">201,032</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">201,032</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">126,023</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">126,032</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">46.34</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">181</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">2024</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">200,717</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">200,717</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">114,729</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">114,729</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">50.19</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">(1,721</td> <td style="padding-bottom: 1.5pt; text-align: left;">)</td> </tr></tbody></table><div style="margin-top: 0pt; margin-bottom: 0pt; width: 25%;"><div style="font-size: 1pt; border-top: Black 1.5pt solid;"> </div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(1)</td> <td style="text-align: left;">As reported in the Summary Compensation Table on page 18 of this proxy statement</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(2)</td> <td style="text-align: left;">During fiscal year 2026, our principal executive officer (“PEO” was R. Clay Hulette. During fiscal years 2025 and 2024 our PEO was Don D. Jennings. During fiscal years 2026, our non-PEO Named Executive Officers were Teresa Hulette and Don D. Jennings. During fiscal years 2025 and 2024, our non-PEO Named Executive Officers (“non-PEO NEOs”) were Teresa Hulette and Jaime Coffey.</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><p style="margin-top: 0; margin-bottom: 0;"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(3)</td> <td style="text-align: left;">We had no outstanding equity awards for fiscal years 2026, 2025 and 2024. Accordingly, no equity award adjustments are applicable to the compensation paid to the PEO in 2026, 2025 and 2024.</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(4)</td> <td style="text-align: left;">Average summary compensation total for non-PEO NEOs represents the average of the SCT total compensation paid to the non-PEO NEOs during each of the years in the SCT.</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(5)</td> <td style="text-align: left;">We had no outstanding equity awards for fiscal years 2026, 2025 and 2024. Accordingly, no equity award adjustments are applicable to the compensation paid to the non-PEO named executive officers in 2026, 2025 and 2024.</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(6)</td> <td style="text-align: left;">Cumulative total shareholder return (“TSR”) assumes an initial investment of $100 investment as of market close on June 30, 2023</td> </tr></tbody> </table><p style="margin-top: 0; margin-bottom: 0;"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tbody><tr style="vertical-align: top; text-align: justify;"><td style="width: 0.25in; text-align: left;">(7)</td> <td style="text-align: left;">Net Income as reported on page 27 of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026.</td> </tr></tbody> </table> 193766 193776 173559 173559 88.16 1909000 201032 201032 126023 126032 46.34 181000 200717 200717 114729 114729 50.19 -1721000 During fiscal year 2026, our principal executive officer (“PEO” was R. Clay Hulette. During fiscal years 2025 and 2024 our PEO was Don D. Jennings. During fiscal years 2026, our non-PEO Named Executive Officers were Teresa Hulette and Don D. Jennings. During fiscal years 2025 and 2024, our non-PEO Named Executive Officers (“non-PEO NEOs”) were Teresa Hulette and Jaime Coffey. R. Clay Hulette R. Clay Hulette R. Clay Hulette <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;">Analysis of the Information Presented in the Pay Versus Performance Table</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">We generally seek to incentivize long-term performance, and therefore do not specifically align our performance measures with “compensation actually paid” (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K we are providing the following descriptions of the relationships between information presented in the Pay Versus Performance Table.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><i>Compensation Actually Paid (“CAP”) and Company TSR</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">TSR amounts reported in the graph assume an initial fixed investment of $100. CAP to PEO #1, R. Clay Hulette, was $193,766 in 2026, and Don Jennings, was $201,032 in 2025 and $200,717 in 2024. CAP to the non-PEO NEOs averaged $173,559 in 2026, $126,023 in 2025, and $114,729 in 2023. The Company does not use TSR to determine compensation levels or inventive plan payouts, therefore the PEO and non-PEO NEOs CAP does not fluctuate with changes to TSR.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><img alt="" src="ea030814401_img6.jpg"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><i>Compensation Actually Paid and Net Income</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">CAP to PEO #1, R. Clay Hulette, was $193,766 in 2026 and Don Jennings, was $201,032 in 2025 and $200,717 in 2024. CAP to the non-PEO NEOs averaged $173,559 in 2026, $126,032 in 2025, and $114,729 in 2024. The Company reported net income of $1.9 million in 2026, $181,000 in 2025, and a net loss of $1.7 million in 2024. The Company does not use net income to determine compensation levels or incentive plan payouts, therefore the PEO and non-PEO NEOs CAP does not fluctuate with changes to net income.</p><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt;"><img alt="" src="ea030814401_img7.jpg"/></p> As reported in the Summary Compensation Table on page 18 of this proxy statement During fiscal year 2026, our principal executive officer (“PEO” was R. Clay Hulette. During fiscal years 2025 and 2024 our PEO was Don D. Jennings. During fiscal years 2026, our non-PEO Named Executive Officers were Teresa Hulette and Don D. Jennings. During fiscal years 2025 and 2024, our non-PEO Named Executive Officers (“non-PEO NEOs”) were Teresa Hulette and Jaime Coffey. We had no outstanding equity awards for fiscal years 2026, 2025 and 2024. Accordingly, no equity award adjustments are applicable to the compensation paid to the PEO in 2026, 2025 and 2024. Average summary compensation total for non-PEO NEOs represents the average of the SCT total compensation paid to the non-PEO NEOs during each of the years in the SCT. We had no outstanding equity awards for fiscal years 2026, 2025 and 2024. Accordingly, no equity award adjustments are applicable to the compensation paid to the non-PEO named executive officers in 2026, 2025 and 2024. Cumulative total shareholder return (“TSR”) assumes an initial investment of $100 investment as of market close on June 30, 2023 Net Income as reported on page 27 of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026.