Mercantile Bank CEO Michael Price's 2008 pay slips 1% to $550K
Mercantile Bank reports 2008 executive compensation
By ExecPay News
Published: March 31, 2009
Mercantile Bank reported fiscal year 2008 executive compensation information on March 31, 2009.
In 2008, three executives at Mercantile Bank received on average a compensation package of $401K, a 41% decrease compared to previous year.
Average pay of disclosed executives at Mercantile Bank
Michael H. Price, Chief Executive Officer, received $550K in total, which decreased by 1% compared to 2007. 86% of Price's compensation, or $474K, was in salary. Price also received $3.4K of change in pension value and nonqualified deferred compensation earnings, $24K in option awards, $16K in stock awards, as well as $32K in other compensation.
Robert B. Kaminski, Jr, Chief Operating Officer, received a compensation package of $355K, which decreased by 2% compared to previous year. 86% of the compensation package, or $305K, was in salary.
Charles E. Christmas, Chief Financial Officer, earned $299K in 2008, which is about the same as previous year.
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Source: SEC filing on March 31, 2009.