Orange County Bancorp CEO Michael Gilfeather's 2023 pay jumps 49% to $1.6M
Orange County Bancorp reports 2023 executive compensation
By ExecPay News
Published: April 12, 2024
Orange County Bancorp reported fiscal year 2023 executive compensation information on April 12, 2024.
In 2023, three executives at Orange County Bancorp received on average a compensation package of $995K, a 28% increase compared to previous year.
Average pay of disclosed executives at Orange County Bancorp
Michael J. Gilfeather, Chief Executive Officer, received $1.6M in total, which increased by 49% compared to 2022. 40% of Gilfeather's compensation, or $650K, was in salary. Gilfeather also received $1.1K of change in pension value and nonqualified deferred compensation earnings, $390K in non-equity incentive plan, $262K in stock awards, as well as $331K in other compensation.
Joseph A. Ruhl, Executive Vice President and Regional President of the Bank, received a compensation package of $717K, which increased by 8% compared to previous year. 47% of the compensation package, or $335K, was in salary.
Gregory Sousa, Executive Vice President, Chief Commercial Banking Officer, earned $633K in 2023, a 12% increase compared to previous year.
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Source: SEC filing on April 12, 2024.