CHOICEONE FINANCIAL SERVICES INC
For the period ended May 29, 2024. Filed Apr 11, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 29, 2024 · Filed Apr 11, 2024
COFS$36.69-0.2%Stored close · as of Nov 6, 2026
Contents
Pay versus Performance Table
| Pay Versus Performance Year(1) | | | Summary compensation table total for PEO | | | Compensation actually paid to PEO(2) | | | Average Summary Compensation Table Total for Non-PEO named executive officers | | | Average Compensation Actually Paid to non-PEO named executive officers(1)(2) | | | Value of Initial Fixed $100 Investment Based on: Total Shareholder Return | | | Net Income |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | | | $722,253 | | | $715,362 | | | $422,686 | | | $417,862 | | | $107.40 | | | $21,261,000 |
| 2022 | | | $646,206 | | | $678,579 | | | $401,701 | | | $428,680 | | | $102.02 | | | $23,640,000 |
| 2021 | | | $662,327 | | | $617,068 | | | $413,726 | | | $389,228 | | | $89.15 | | | $22,042,000 |
| (1) | For each of the years presented above, our PEO was Mr. Potes, and our Non-PEO NEOs were Mr. Burke and Mr. Henion. |
| (2) | The table below details amounts deducted and added to calculate Compensation Actually Paid to the PEO and Average Compensation Actually Paid to the Non-PEO NEOs. |
| · · PEO · · · Average for Non-PEO NEOs | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | 2023 | | | 2022 | | | 2021 | | | 2023 | | | 2022 | | | 2021 | |
| Total compensation per Summary Compensation Table (“SCT”) | | | $722,253 | | | $646,206 | | | $662,327 | | | $422,686 | | | $401,701 | | | $413,726 |
| Less the value of stock grants reported in the SCT, respectively | | | $94,068 | | | $91,200 | | | $104,500 | | | $40,200 | | | $38,975 | | | $51,506 |
| Plus year-end value of stock grants awarded in the covered fiscal year that are unvested and outstanding as of the end of the covered fiscal year | | | $92,148 | | | $114,405 | | | $68,106 | | | $39,378 | | | $56,391 | | | $30,569 |
| Plus the change in fair value of prior year awards that are outstanding and unvested as of the end of the covered fiscal year | | | $1,955 | | | $10,098 | | | $(8,865) | | | $465 | | | $10,494 | | | $(3,561) |
| Plus the change in fair value as of the vesting date of prior year awards that vested at the end of or during the covered fiscal year | | | $(6,926) | | | $(930) | | | — | | | $(4,467) | | | $(930) | | | — |
| Compensation actually paid for year shown | | | $715,362 | | | $678,579 | | | $617,068 | | | $417,862 | | | $428,680 | | | $389,228 |
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