First Merchants CEO Michael Rechin's 2019 pay slips 17% to $1.7M
First Merchants reports 2019 executive compensation
By ExecPay News
Published: April 1, 2020
First Merchants reported fiscal year 2019 executive compensation information on April 1, 2020.
In 2019, five executives at First Merchants received on average a compensation package of $968K, a 14% decrease compared to previous year.
Average pay of disclosed executives at First Merchants
Michael C. Rechin, Chief Executive Officer, received $1.7M in total, which decreased by 17% compared to 2018. 33% of Rechin's compensation, or $566K, was in stock awards. Rechin also received $322K in non-equity incentive plan, $565K in salary, as well as $249K in other compensation.
Mark K. Hardwick, Chief Financial Officer, received a compensation package of $994K, which decreased by 13% compared to previous year. 39% of the compensation package, or $386K, was in salary.
Michael J. Stewart, Executive Vice President and Chief Banking Officer, earned $910K in 2019, a 13% decrease compared to previous year.
John J. Martin, Executive Vice President and Chief Credit Officer, received $709K in 2019, which decreases by 15% compared to 2018.
Stephan H. Fluhler, Senior Vice President and Chief Information Officer, earned $524K in 2019, a 6% decrease 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 April 1, 2020.