Midland States Bancorp CEO Jeffrey Ludwig's 2021 pay jumps 54% to $1.6M
Midland States Bancorp reports 2021 executive compensation
By ExecPay News
Published: March 21, 2022
Midland States Bancorp reported fiscal year 2021 executive compensation information on March 21, 2022.
In 2021, five executives at Midland States Bancorp received on average a compensation package of $961K, a 49% increase compared to previous year.
Average pay of disclosed executives at Midland States Bancorp
Jeffrey G. Ludwig, Chief Executive Officer, received $1.6M in total, which increased by 54% compared to 2020. 39% of Ludwig's compensation, or $615K, was in non-equity incentive plan. Ludwig also received $572K in salary, $373K in stock awards, as well as $22K in other compensation.
For fiscal year 2021, the median employee pay was $56,630 at Midland States Bancorp. Therefore, the ratio of Jeffrey G. Ludwig's pay to the median employee pay was 28 to one.
Jeffrey S. Mefford, President of the Bank, received a compensation package of $1M, which increased by 50% compared to previous year. 39% of the compensation package, or $400K, was in salary.
Douglas J. Tucker, Senior Vice President and Corporate Counsel, earned $757K in 2021, a 41% increase compared to previous year.
Eric T. Lemke, Chief Financial Officer, received $736K in 2021, which increases by 57% compared to 2020.
James R. Stewart, Senior Vice President and Chief Risk Officer, earned $694K in 2021, a 41% increase compared to previous year.
Related executives
Jeffrey Ludwig
Midland States Bancorp
Chief Executive Officer
Jeffrey Mefford
Midland States Bancorp
President of the Bank
Douglas Tucker
Midland States Bancorp
Senior Vice President and Corporate Counsel
Eric Lemke
Midland States Bancorp
Chief Financial Officer
James Stewart
Midland States Bancorp
Senior Vice President and Chief Risk Officer
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Source: SEC filing on March 21, 2022.