Security Federal CEO J Verenes' 2022 pay slips 10% to $495K
Security Federal reports 2022 executive compensation
By ExecPay News
Published: April 7, 2023
Security Federal reported fiscal year 2022 executive compensation information on April 7, 2023.
In 2022, three executives at Security Federal received on average a compensation package of $411K, a 1% decrease compared to previous year.
Average pay of disclosed executives at Security Federal
J. Chris Verenes, Chief Executive Officer, received $495K in total, which decreased by 10% compared to 2021. 78% of Verenes' compensation, or $384K, was in salary. Verenes also received $40K of change in pension value and nonqualified deferred compensation earnings, $31K in non-equity incentive plan, as well as $40K in other compensation.
Roy G. Lindburg, President of Security Federal and Director of Security Federal and the Bank, received a compensation package of $423K, which increased by 5% compared to previous year. 70% of the compensation package, or $294K, was in salary.
Philip R. Wahl, President of Security Federal Bank, earned $316K in 2022, a 9% increase compared to previous year.
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Source: SEC filing on April 7, 2023.