Penns Woods Bancorp CEO Richard Grafmyre's 2021 pay slips 6% to $1.4M
Penns Woods Bancorp reports 2021 executive compensation
By ExecPay News
Published: March 24, 2022
Penns Woods Bancorp reported fiscal year 2021 executive compensation information on March 24, 2022.
In 2021, four executives at Penns Woods Bancorp received on average a compensation package of $622K, a 3% increase compared to previous year.
Average pay of disclosed executives at Penns Woods Bancorp
Richard A. Grafmyre, Chief Executive Officer, received $1.4M in total, which decreased by 6% compared to 2020. 71% of Grafmyre's compensation, or $1M, was in salary. Grafmyre also received $183K in non-equity incentive plan, $191K in option awards, as well as $27K in other compensation.
For fiscal year 2021, the median employee pay was $55,764 at Penns Woods Bancorp. Therefore, the ratio of Richard A. Grafmyre's pay to the median employee pay was 25 to one.
Brian L. Knepp, Chief Financial Officer, received a compensation package of $626K, which increased by 21% compared to previous year. 40% of the compensation package, or $250K, was in salary.
Aron M. Carter, Senior Vice President, earned $237K in 2021, a 16% increase compared to previous year.
Michelle M. Karas, Senior Vice President, received $219K in 2021, which increases by 7% compared to 2020.
Related executives
You may also like
Source: SEC filing on March 24, 2022.