First Merchants CEO Michael Rechin's 2018 pay rises 7% to $2M
First Merchants reports 2018 executive compensation
By ExecPay News
Published: March 21, 2019
First Merchants reported fiscal year 2018 executive compensation information on March 21, 2019.
In 2018, five executives at First Merchants received on average a compensation package of $1.1M, a 8% increase compared to previous year.
Average pay of disclosed executives at First Merchants
Michael C. Rechin, Chief Executive Officer, received $2M in total, which increased by 7% compared to 2017. 36% of Rechin's compensation, or $730K, was in stock awards. Rechin also received $517K in non-equity incentive plan, $549K in salary, as well as $251K in other compensation.
Mark K. Hardwick, Chief Financial Officer, received a compensation package of $1.1M, which increased by 7% compared to previous year. 41% of the compensation package, or $462K, was in stock awards.
Michael J. Stewart, Executive Vice President and Chief Banking Officer, earned $1M in 2018, a 11% increase compared to previous year.
John J. Martin, Executive Vice President and Chief Credit Officer, received $835K in 2018, which increases by 9% compared to 2017.
Stephan H. Fluhler, Senior Vice President and Chief Information Officer, earned $556K in 2018, a 5% increase compared to previous year.
Related executives
Michael Rechin
First Merchants
Chief Executive Officer
Mark Hardwick
First Merchants
Chief Financial Officer
Michael Stewart
First Merchants
Executive Vice President and Chief Banking Officer
John Martin
First Merchants
Executive Vice President and Chief Credit Officer
Stephan Fluhler
First Merchants
Senior Vice President and Chief Information Officer
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Source: SEC filing on March 21, 2019.