Penns Woods Bancorp CEO Richard Grafmyre's 2020 pay rises 11% to $1.5M
Penns Woods Bancorp reports 2020 executive compensation
By ExecPay News
Published: March 23, 2021
Penns Woods Bancorp reported fiscal year 2020 executive compensation information on March 23, 2021.
In 2020, four executives at Penns Woods Bancorp received on average a compensation package of $604K, a 15% increase compared to previous year.
Average pay of disclosed executives at Penns Woods Bancorp
Richard A. Grafmyre, Chief Executive Officer, received $1.5M in total, which increased by 11% compared to 2019. 67% of Grafmyre's compensation, or $995K, was in salary. Grafmyre also received $313K in non-equity incentive plan, $154K in option awards, as well as $29K in other compensation.
For fiscal year 2020, the median employee pay was $41,304 at Penns Woods Bancorp. Therefore, the ratio of Richard A. Grafmyre's pay to the median employee pay was 36 to one.
Brian L. Knepp, Chief Financial Officer, received a compensation package of $518K, which increased by 34% compared to previous year. 43% of the compensation package, or $221K, was in salary.
Michelle M. Karas, Senior Vice President, earned $205K in 2020, a 8% increase compared to previous year.
Aron M. Carter, Senior Vice President, received $204K in 2020, which increases by 12% compared to 2019.
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Source: SEC filing on March 23, 2021.