Chemical Financial CEO David Provost's 2018 pay jumps 83% to $3.5M

Chemical Financial reports 2018 executive compensation

By ExecPay News

Published: March 28, 2019

Chemical Financial reported fiscal year 2018 executive compensation information on March 28, 2019.
In 2018, five executives at Chemical Financial received on average a compensation package of $2.7M, a 17% increase compared to previous year.
Average pay of disclosed executives at Chemical Financial
20062007200820092010201120122013201420152016201720180700K1.4M2.1M2.8M
  • Salary
  • Stock
  • Options
  • Non-Equity Incentive
  • Bonus
  • Change in Pension Value & NQDC
  • Other
David T. Provost, Chief Executive Officer, received $3.5M in total, which increased by 83% compared to 2017. 84% of Provost's compensation, or $3M, was in stock awards. Provost also received $457K in salary and $96K in other compensation.
For fiscal year 2018, the median employee pay was $40,686 at Chemical Financial. Therefore, the ratio of David T. Provost's pay to the median employee pay was 87 to one.
Gary Torgow, Chairman, received a compensation package of $3.5M, which increased by 84% compared to previous year. 85% of the compensation package, or $3M, was in stock awards.
Thomas C. Shafer, Chief Executive Officer, earned $2.9M in 2018, a 43% increase compared to previous year.
Dennis L. Klaeser, Chief Financial Officer, received $2.4M in 2018, which increases by 16% compared to 2017.
J. Brennan Ryan, Chief Operating Officer, earned $1.4M in 2018.

Related executives

David Provost

Chemical Financial

Chief Executive Officer

Dennis Klaeser

Chemical Financial

Chief Financial Officer

Gary Torgow

Chemical Financial

Chairman

Thomas Shafer

Chemical Financial

Chief Executive Officer

J Ryan

Chemical Financial

Chief Operating Officer

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Source: SEC filing on March 28, 2019.
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