Mercantile Bank CEO Robert Kaminski's 2021 pay rises 11% to $1.2M
Mercantile Bank reports 2021 executive compensation
By ExecPay News
Published: April 7, 2022
Mercantile Bank reported fiscal year 2021 executive compensation information on April 7, 2022.
In 2021, five executives at Mercantile Bank received on average a compensation package of $728K, a 3% increase compared to previous year.
Average pay of disclosed executives at Mercantile Bank
Robert B. Kaminski, Jr, Chief Executive Officer, received $1.2M in total, which increased by 11% compared to 2020. 43% of Kaminski's compensation, or $519K, was in salary. Kaminski also received $67 of change in pension value and nonqualified deferred compensation earnings, $286K in non-equity incentive plan, $349K in stock awards, as well as $55K in other compensation.
For fiscal year 2021, the median employee pay was $53,499 at Mercantile Bank. Therefore, the ratio of Robert B. Kaminski, Jr's pay to the median employee pay was 23 to one.
Raymond E. Reitsma, Chief Operating Officer, received a compensation package of $871K, which increased by 11% compared to previous year. 47% of the compensation package, or $406K, was in salary.
Charles E. Christmas, Chief Financial Officer, earned $740K in 2021, a 2% increase compared to previous year.
Lonna L. Wiersma, Senior Vice President and Human Resources Director of Mercantile and the Bank, received $413K in 2021, which decreases by 14% compared to 2020.
Robert T. Worthington, General Counsel, earned $409K in 2021, a 9% decrease compared to previous year.
Related executives
Robert Kaminski
Mercantile Bank
Chief Executive Officer
Raymond Reitsma
Mercantile Bank
Chief Operating Officer
Charles Christmas
Mercantile Bank
Chief Financial Officer
Lonna Wiersma
Mercantile Bank
Senior Vice President and Human Resources Director of Mercantile and the Bank
Robert Worthington
Mercantile Bank
General Counsel
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Source: SEC filing on April 7, 2022.