David Zalman is the Senior Chairman and CEO of Prosperity Bancshares Inc. He has been leading the company since it took over the banks and has seen substantial growth in its assets and market share. Born on February 1, 1956,...

David Zalman is the Senior Chairman and CEO of Prosperity Bancshares Inc. He has been leading the company since it took over the banks and has seen substantial growth in its assets and market share. Born on February 1, 1956, David has built his career in finance without specified formal education, which shows how experience can sometimes outweigh traditional pathways. His earnings tell a story of rapid success; in 2023, he earned about $3.2 million, which is a significant bump from just over $200,000 in 2022. This reflects not only his responsibilities but also the company's performance under his leadership. Interestingly, he has also been involved in some insider trading, indicating a strong belief in his company's growth, peaking around $64 million in 2021 before seeing changes in the markets. David's strategic decisions have enabled the company to offer better bonuses to employees and rewards that aim to align everyone's interests. His recent employment agreement removed age limits for his tenure, meaning he plans to stay on longer. With these moves, he's made it clear: he does not intend to slow down anytime soon.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Prosperity Bancshares CEOs

P

David Zalman

Ex-CEO of Prosperity Bancshares

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

February 1, 1956 - 69 years ago

CEO of Prosperity Bancshares for

11 years 1 month (Nov 2012 - Dec 2023)

Previous Experience

Chairman of the Board and Chief Executive Officer of the Company

Rivals

Competitors/colleagues of David Zalman

U

Richard M. Adams, Jr.

CEO of United Bankshares

2023 Compensation

Stock

$609.36K

Salary

$1.00M

Bonus

$1.09M

Other

$59.30K

Total Holdings

$6.01M

C

Chang M. Liu

CEO of Cathay General Bancorp

2023 Compensation

Stock

$5.13M

Salary

$920.00K

Bonus

$784.60K

Other

$16.50K

Total Holdings

$137.68K

S

George A. Makris, Jr.

CEO of Simmons First National

2022 Compensation

Stock

$2.30M

Salary

$887.62K

Bonus

$40.21K

Other

$146.36K

Total Holdings

$26.21M

F

Vincent J. Delie, Jr.

CEO of F.N.B. Corporation

2023 Compensation

Stock

$11.00M

Salary

$1.19M

Bonus

$0.00

Other

$649.18K

Total Holdings

$24.80M

H

Joseph S. Exnicios

CEO of Hancock Whitney Corporation

2023 Compensation

Stock

$265.86K

Salary

$553.84K

Bonus

$383.43K

Other

$67.08K

Total Holdings

$2.37M

Holdings

See how much did David Zalman make over time.

David Zalman has made impressive moves in his holdings, particularly between 2019 and 2021, when his wealth fluctuated significantly. For instance, in September 2021, his holdings peaked at approximately $64.2 million, reflecting a strong upward trend. However, as of September...

David Zalman has made impressive moves in his holdings, particularly between 2019 and 2021, when his wealth fluctuated significantly. For instance, in September 2021, his holdings peaked at approximately $64.2 million, reflecting a strong upward trend. However, as of September 2023, his holdings dropped to around $46.73 million. This reflects changing market dynamics and his proactive position in managing investments. He has consistently shown a firm commitment to Prosperity Bancshares, and his fluctuations might indicate strategic personal investments that align with the company’s growth trajectory, showcasing his deep confidence in the bank's future.

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Charitable Transactions

PB

551,451 shares

PB

Recent Charitable Transactions

PB

151,451 shares

PB

Mar 24, 2021

Charity

PB

200,000 shares

PB

Dec 31, 2012

Charity

PB

200,000 shares

PB

Dec 28, 2012

Charity

Insider Trading

See recent insider trades of David Zalman.

PB

3,057 shares

PB

Dec 31, 2024

Received

PB

35,000 shares

PB

Jan 16, 2024

Received

PB

2,372 shares

PB

Dec 29, 2023

Received

PB

2,130 shares

PB

Dec 30, 2022

Received

PB

2,821 shares

PB

Dec 31, 2021

Received

PB

151,451 shares

PB

Mar 24, 2021

Charity

PB

151,451 shares

PB

Mar 24, 2021

Charity

PB

35,000 shares

PB

Jan 19, 2021

Received

PB

3,864 shares

PB

Dec 31, 2020

Received

PB

$431.23K

PB at $49.57/share

Sep 23, 2020

Purchase

Compensation History

See how much did David Zalman make over time.

In 2023, David Zalman earned a total compensation of $3,229,008. His salary was $1,105,186, alongside a notable discretionary bonus of $1,135,000 for his contributions. Part of his earnings came from vested stocks worth $222,377, contributing to his total pay package which provides insights into his high-stakes role. This represents a jump in his earnings from the previous year, where his total compensation was just $219,427. The growth in his pay reflects the bank's performance and his effective leadership during significant growth periods. It shows how tying capital to performance can be a motivational strategy for executive leadership, which he exemplifies. In particular, the growth of bonuses signals a strong year for the bank's operations as stakeholders are rewarded for their performance and strategic execution.

Year

2023

Total Compensation

$2.70M

Salary

$1.11M

Board Justification

The compensation program is designed to reward executive officers for achieving short-term and long-term strategic and operational goals while maximizing shareholder value.

Bonus

$1.14M

Board Justification

Discretionary cash bonuses awarded for efforts during the year in recognition of contributions and the Company’s performance.

Other

$238.82K

Board Justification

Includes club membership dues, 401(k) matching contributions, personal use of automobiles, personal use of aircraft, premiums on life insurance, and dividends on unvested restricted stock.

Restricted Stock

$222.38K(2.94K RSU)

Board Justification

Restricted stock that vested during the fiscal year ended December 31, 2023.

Performance Metrics

Total return, asset quality, increase in earnings per share, increase in deposits, increase in assets, increase in loans, return on average equity, efficiency ratio, and increase in dividends.

Other Prosperity Bancshares CEOs

Here are other CEOs of Prosperity Bancshares

James D. Rollins III

Ex-CEO of Prosperity Bancshares

April 2006 - November 2012