Security Federal CEO J Verenes' 2023 pay rises 2% to $506K
Security Federal reports 2023 executive compensation
By ExecPay News
Published: April 8, 2024
Security Federal reported fiscal year 2023 executive compensation information on April 8, 2024.
In 2023, three executives at Security Federal received on average a compensation package of $422K, a 3% increase compared to previous year.
Average pay of disclosed executives at Security Federal
J. Chris Verenes, Chief Executive Officer, received $506K in total, which increased by 2% compared to 2022. 81% of Verenes' compensation, or $410K, was in salary. Verenes also received $52K of change in pension value and nonqualified deferred compensation earnings and $45K in other compensation.
Roy G. Lindburg, President of Security Federal and Director of Security Federal and the Bank, received a compensation package of $432K, which increased by 2% compared to previous year. 73% of the compensation package, or $315K, was in salary.
Philip R. Wahl, President of Security Federal Bank, earned $329K in 2023, a 4% increase compared to previous year.
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Source: SEC filing on April 8, 2024.