F. STEPHEN WARD - Corporate Board Profile

First Bancorp, Inc /ME/

Filing Date	Source Excerpt
2019-03-08	F. Stephen Ward (65)has served as a Director of the Company and the Bank since April 2018. ... Fees paid by the Bank to its Directors as a group totaled $254,750 in 2018, ... The following table of Director Compensation details compensation paid to Directors in 2018. F. Stephen Ward: $21,900.
2020-03-06	F. Stephen Ward (66)has served as a Director of the Company and the Bank since April 2018. ... Fees paid by the Bank to its Directors as a group totaled $266,600 in 2019, ... F. Stephen Ward received $32,700 in fees.
2021-03-05	F. Stephen Ward (67)has served as a Director of the Company and the Bank since April 2018. Mr. Ward retired as Treasurer and Chief Financial Officer of the Company on March 30, 2018, after serving as Chief Financial Officer of the Company since 1994 and as Chief Financial Officer of the Bank since 1993.
2022-03-11	F. STEPHEN WARD Director of the Company and the Bank since April 2018 AGE 68 Mr. Ward retired as Treasurer and Chief Financial Officer of the Company on March 30, 2018, after serving as Chief Financial Officer of the Company since 1994 and as Chief Financial Officer of the Bank since 1993. As of April 1, 2022, Director Ward will qualify as an independent director per NASDAQ rules. During his 28-year career at the Bank and the Company, Mr. Ward was active in local government, serving on the Edgecomb Budget Committee for three years and the Edgecomb School Committee for nine years, including seven years as Chair, as well as the Union 49 School Board for nine years, including three years as Vice-Chair. He has been involved with several non-profit organizations, including Round Top Center for the Arts and the Boothbay Region YMCA. He is past Board Chair for Coastal Ventures Inc. (“CVI”), the venture capital subsidiary of Coastal Enterprises which operates four venture capital funds that provide seed capital to startup and early stage companies, primarily in northern New England, with a strong focus on job creation in the region. The majority of the investors in these funds are Maine-based banks. For six years, Mr. Ward also served on the Member Advisory Panel of the Federal Home Loan Bank of Boston, an important funding source for the Bank. He has extensive experience in financial statement preparation, asset/liability management and management of a complex fixed-income investment portfolio. The Board concluded that Mr. Ward is well suited to serve as a director of the Company because of his experience as a former senior officer of the Company with more than two decades in bank executive management. Fees paid by the Bank to its Directors as a group totaled $268,775 in 2021, but no fees are paid to Directors of the Company in their capacities as such. Of the $268,775 paid to the outside Directors, 50% of this amount was reinvested in the Company through the Employee Stock Purchase Plan. CEO McKim, who is the only Director who is also an employee of the Company, receives no additional compensation for serving on the Board of Directors of the Company or the Bank. The following table of Director Compensation details compensation paid to Directors in 2021. Name Fees Earned or Paid in Cash(1)($) F. Stephen Ward 34,200
2023-03-10	F. Stephen Ward Retired Treasurer and Chief Financial Officer, The First Bancorp and First National Bank AGE 69 Director of the Company and the Bank since 2018 (Independent Director since 2022) COMMITTEES • Audit Fees paid by the Bank to its Directors as a group totaled $290,400 in 2022, but no fees are paid to Directors of the Company in their capacities as such. Of the $290,400 paid to the outside Directors, 64% of this amount was reinvested in the Company through the Employee Stock Purchase Plan. The following table of Director Compensation details compensation paid to Directors in 2022. F. Stephen Ward Fees Earned or Paid in Cash: $37,000 Stock Awards: 250 shares The Chair of the Board received an annual fee of $44,000. Each of the outside Directors of the Bank, with the exception of the Chair of the Board, received a Director’s fee in the amount of $1,000 for each meeting attended, and $700 for each meeting attended of a committee of which the Director is a member. In addition to meeting fees paid for meetings attended, Director Kelly as Chair of the Audit Committee until April 2022 received a stipend of $3,000. Each of the outside Directors also received a monthly retainer of $1,300, with the exception of the Chair of the Board.
2024-03-08	F. Stephen Ward Retired Treasurer and Chief Financial Officer, The First Bancorp and First National Bank 70 2018 Audit Committee Chair. Committees: Audit. Fees Earned or Paid in Cash: 34,600. Stock Awards: 250 shares.
2025-03-07	F. Stephen Ward Retired Treasurer and Chief Financial Officer, The First Bancorp and First National Bank Age: 71 Independent Director of the Company and the Bank since 2018. Committees: Audit. Fees Earned or Paid in Cash: $36,800.