Mercantile Bank CEO Robert Kaminski's 2019 pay rises 7% to $1M
Mercantile Bank reports 2019 executive compensation
By ExecPay News
Published: April 9, 2020
Mercantile Bank reported fiscal year 2019 executive compensation information on April 9, 2020.
In 2019, five executives at Mercantile Bank received on average a compensation package of $674K, a 4% increase compared to previous year.
Average pay of disclosed executives at Mercantile Bank
Robert B. Kaminski, Jr, Chief Executive Officer, received $1M in total, which increased by 7% compared to 2018. 49% of Kaminski's compensation, or $499K, was in salary. Kaminski also received $127 of change in pension value and nonqualified deferred compensation earnings, $175K in non-equity incentive plan, $285K in stock awards, as well as $55K in other compensation.
For fiscal year 2019, the median employee pay was $49,630 at Mercantile Bank. Therefore, the ratio of Robert B. Kaminski, Jr's pay to the median employee pay was 20 to one.
Raymond E. Reitsma, Executive Vice President of Mercantile, and President of the Bank, received a compensation package of $734K, which increased by 9% compared to previous year. 50% of the compensation package, or $371K, was in salary.
Charles E. Christmas, Chief Financial Officer, earned $706K in 2019, a 2% increase compared to previous year.
Lonna L. Wiersma, Senior Vice President and Human Resources Director of Mercantile and the Bank, received $473K in 2019, which increases by 2% compared to 2018.
Robert T. Worthington, Chief Operating Officer, earned $441K in 2019, a 2% decrease compared to previous year.
Related executives
Robert Kaminski
Mercantile Bank
Chief Executive Officer
Raymond Reitsma
Mercantile Bank
Chief Operating Officer
Charles Christmas
Mercantile Bank
Chief Financial Officer
Robert Worthington
Mercantile Bank
General Counsel
Lonna Wiersma
Mercantile Bank
Senior Vice President and Human Resources Director of Mercantile and the Bank
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Source: SEC filing on April 9, 2020.