UNITED BANCORP INC /OH/, DEF 14A filed on 3/14/2025
Proxy Statement (definitive)
v3.25.0.1
Cover
 12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name UNITED BANCORP, INC.
Entity Central Index Key 0000731653
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Pay-Versus-Performance Table
Year
​ ​
Summary
Compensation
Table Total for
PEO
($)(1)
​ ​
Compensation
Actually Paid
to PEO
($)
​ ​
Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)
​ ​
Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)
​ ​
Value of
Initial Fixed
$100 Investment
Based On Total
Shareholder
Return
($)
​ ​
Net Income
($)
(000’s)
​
2024 ​ ​ ​ ​ 940,030 ​ ​ ​ ​ ​ 980,655 ​ ​ ​ ​ ​ 552,274 ​ ​ ​ ​ ​ 584,774 ​ ​ ​ ​ ​ 118.75 ​ ​ ​ ​ ​ 7,402 ​ ​
2023 ​ ​ ​ ​ 606,824 ​ ​ ​ ​ ​ 590,387 ​ ​ ​ ​ ​ 286,240 ​ ​ ​ ​ ​ 273,090 ​ ​ ​ ​ ​ 143.61 ​ ​ ​ ​ ​ 8,950 ​ ​
2022 ​ ​ ​ ​ 561,172 ​ ​ ​ ​ ​ 538,797 ​ ​ ​ ​ ​ 272,098 ​ ​ ​ ​ ​ 254,198 ​ ​ ​ ​ ​ 122.50 ​ ​ ​ ​ ​ 8,657 ​ ​
​
1.
Scott A. Everson was the Registrant’s Principal Executive Officer (PEO) for each of the 2022, 2023 and 2024 fiscal years.
​
2.
For the 2022, 2023 and 2024 fiscal years, the Registrant’s Non PEO NEOs were: Matthew F. Branstetter; and Randall M. Greenwood.
​
3.
The amounts disclosed reflect the following adjustments to the amounts reported in the Summary Compensation Table.
​
​ ​ ​
2024
​ ​
2023
​ ​
2022
​
Adjustment
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​
Less Grant date value of equity awards
​ ​ ​ ​ (233,600) ​ ​ ​ ​ ​ (292,000) ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-end fair value of current year award
​ ​ ​ ​ 325,000 ​ ​ ​ ​ ​ 260,000 ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-over-year change in fair value of unvested awards
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (23,500) ​ ​ ​ ​ ​ (18,800) ​ ​ ​ ​ ​ (48,500) ​ ​ ​ ​ ​ (38,800) ​ ​
Change in value of awards vesting during the current year
​ ​ ​ ​ (14,500) ​ ​ ​ ​ ​ (11,600) ​ ​ ​ ​ ​ (3,125) ​ ​ ​ ​ ​ (2,500) ​ ​ ​ ​ ​ 6,750 ​ ​ ​ ​ ​ 5,400 ​ ​
Dividends paid on unvested awards
​ ​ ​ ​ 22,125 ​ ​ ​ ​ ​ 17,700 ​ ​ ​ ​ ​ 10,188 ​ ​ ​ ​ ​ 8,150 ​ ​ ​ ​ ​ 19,375 ​ ​ ​ ​ ​ 15,500 ​ ​
Total adjustments
​ ​ ​ ​ 40,625 ​ ​ ​ ​ ​ 32,500 ​ ​ ​ ​ ​ (16,437) ​ ​ ​ ​ ​ (13,150) ​ ​ ​ ​ ​ (22,375) ​ ​ ​ ​ ​ (17,900) ​ ​
​
4.
As reported on Registrant’s Consolidated Statements of Income for the applicable fiscal reporting year, as provided under Part II Item 8 of Registrant’s Annual Report on Form 10-K.
   
Named Executive Officers, Footnote
1.
Scott A. Everson was the Registrant’s Principal Executive Officer (PEO) for each of the 2022, 2023 and 2024 fiscal years.
​
2.
For the 2022, 2023 and 2024 fiscal years, the Registrant’s Non PEO NEOs were: Matthew F. Branstetter; and Randall M. Greenwood.
   
PEO Total Compensation Amount $ 940,030 $ 606,824 $ 561,172
PEO Actually Paid Compensation Amount $ 980,655 590,387 538,797
Adjustment To PEO Compensation, Footnote
3.
The amounts disclosed reflect the following adjustments to the amounts reported in the Summary Compensation Table.
​
​ ​ ​
2024
​ ​
2023
​ ​
2022
​
Adjustment
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​
Less Grant date value of equity awards
​ ​ ​ ​ (233,600) ​ ​ ​ ​ ​ (292,000) ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-end fair value of current year award
​ ​ ​ ​ 325,000 ​ ​ ​ ​ ​ 260,000 ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-over-year change in fair value of unvested awards
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (23,500) ​ ​ ​ ​ ​ (18,800) ​ ​ ​ ​ ​ (48,500) ​ ​ ​ ​ ​ (38,800) ​ ​
Change in value of awards vesting during the current year
​ ​ ​ ​ (14,500) ​ ​ ​ ​ ​ (11,600) ​ ​ ​ ​ ​ (3,125) ​ ​ ​ ​ ​ (2,500) ​ ​ ​ ​ ​ 6,750 ​ ​ ​ ​ ​ 5,400 ​ ​
Dividends paid on unvested awards
​ ​ ​ ​ 22,125 ​ ​ ​ ​ ​ 17,700 ​ ​ ​ ​ ​ 10,188 ​ ​ ​ ​ ​ 8,150 ​ ​ ​ ​ ​ 19,375 ​ ​ ​ ​ ​ 15,500 ​ ​
Total adjustments
​ ​ ​ ​ 40,625 ​ ​ ​ ​ ​ 32,500 ​ ​ ​ ​ ​ (16,437) ​ ​ ​ ​ ​ (13,150) ​ ​ ​ ​ ​ (22,375) ​ ​ ​ ​ ​ (17,900) ​ ​
   
Non-PEO NEO Average Total Compensation Amount $ 552,274 286,240 272,098
Non-PEO NEO Average Compensation Actually Paid Amount $ 584,774 273,090 254,198
Adjustment to Non-PEO NEO Compensation Footnote
3.
The amounts disclosed reflect the following adjustments to the amounts reported in the Summary Compensation Table.
​
​ ​ ​
2024
​ ​
2023
​ ​
2022
​
Adjustment
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​ ​
PEO
($)
​ ​
Non-PEO
NEOs
($)
​
Less Grant date value of equity awards
​ ​ ​ ​ (233,600) ​ ​ ​ ​ ​ (292,000) ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-end fair value of current year award
​ ​ ​ ​ 325,000 ​ ​ ​ ​ ​ 260,000 ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​ ​ ​ ​ NA ​ ​
Year-over-year change in fair value of unvested awards
​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (23,500) ​ ​ ​ ​ ​ (18,800) ​ ​ ​ ​ ​ (48,500) ​ ​ ​ ​ ​ (38,800) ​ ​
Change in value of awards vesting during the current year
​ ​ ​ ​ (14,500) ​ ​ ​ ​ ​ (11,600) ​ ​ ​ ​ ​ (3,125) ​ ​ ​ ​ ​ (2,500) ​ ​ ​ ​ ​ 6,750 ​ ​ ​ ​ ​ 5,400 ​ ​
Dividends paid on unvested awards
​ ​ ​ ​ 22,125 ​ ​ ​ ​ ​ 17,700 ​ ​ ​ ​ ​ 10,188 ​ ​ ​ ​ ​ 8,150 ​ ​ ​ ​ ​ 19,375 ​ ​ ​ ​ ​ 15,500 ​ ​
Total adjustments
​ ​ ​ ​ 40,625 ​ ​ ​ ​ ​ 32,500 ​ ​ ​ ​ ​ (16,437) ​ ​ ​ ​ ​ (13,150) ​ ​ ​ ​ ​ (22,375) ​ ​ ​ ​ ​ (17,900) ​ ​
   
Total Shareholder Return Amount $ 118.75 143.61 122.5
Net Income (Loss) $ 7,402,000 8,950,000 8,657,000
PEO Name Scott A. Everson    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (233,600)    
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 40,625 (16,437) (22,375)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 325,000    
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (23,500) (48,500)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 22,125 10,188 19,375
PEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (14,500) (3,125) 6,750
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (292,000)    
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 32,500 (13,150) (17,900)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 260,000    
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (18,800) (38,800)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 17,700 8,150 15,500
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (11,600) $ (2,500) $ 5,400
v3.25.0.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2024
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure restricted stock awards are generally granted annually on fixed dates determined in advance by the Compensation Committee as a routine part of its annual executive compensation review and adjustment practices. On limited occasions, the Compensation Committee may grant equity awards outside of our annual grant cycle for new hires, promotions, recognition, retention, or other purposes. Our Compensation Committee approves all equity award grants on or before the grant date and does not grant restricted stock awards in anticipation of the release of material nonpublic information. Similarly, the Compensation Committee does not time the release of material nonpublic information based on restricted stock award grant dates.
Award Timing Method restricted stock awards are generally granted annually on fixed dates determined in advance by the Compensation Committee as a routine part of its annual executive compensation review and adjustment practices. On limited occasions, the Compensation Committee may grant equity awards outside of our annual grant cycle for new hires, promotions, recognition, retention, or other purposes.
Award Timing Predetermined true
Award Timing MNPI Considered true
Award Timing, How MNPI Considered Our Compensation Committee approves all equity award grants on or before the grant date and does not grant restricted stock awards in anticipation of the release of material nonpublic information. Similarly, the Compensation Committee does not time the release of material nonpublic information based on restricted stock award grant dates.
MNPI Disclosure Timed for Compensation Value false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true