MID PENN BANCORP INC
For the period ended May 14, 2024. Filed Mar 28, 2024.
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May 14, 2024 · Filed Mar 28, 2024
Contents
Compensation Program Authority and Objectives
The Board has delegated the task of administering Mid Penn’s compensation program to the Compensation Committee. The Committee’s primary responsibility is to assure that the compensation structure and components for executive officers of the Corporation and its subsidiaries are designed to (i) align with the interests of our shareholders and the strategic goals of the Corporation and its subsidiaries, (ii) attract and retain highly-qualified executives who are motivated to achieve high levels of performance, both short-term and long-term, (iii) be competitive with compensation programs of peer institutions, (iv) not encourage undue risk-taking which would negatively affect the safety and soundness of the Corporation and its subsidiaries, and (v) comply with the requirements of the appropriate regulatory bodies.
In making its compensation decisions for 2023, the Compensation Committee desired to recognize the efforts of the members of the executive management team who guided the Corporation in achieving each of the foregoing milestones.
This Compensation Discussion and Analysis describes the key elements of our compensation program for our named executive officers. For the year 2023, our named executive officers are:
| Name | Position |
|---|---|
| Rory G. Ritrievi | President, Chief Executive Officer and Director of the Corporation and Bank |
| Allison S. Johnson(1) | Senior Executive Vice President and Chief Financial Officer of the Corporation and Bank |
| Justin T. Webb | Senior Executive Vice President and Chief Operating Officer of the Bank |
| Scott W. Micklewright | Senior Executive Vice President and Chief Revenue Officer of the Bank |
| Joseph L. Paese | Executive Vice President and Director of Trust and Wealth Management of the Bank |
| (1) | Ms. Johnson ceased to be employed as Senior Executive Vice President and Chief Financial Officer of the Corporation and Bank effective December 29, 2023. |
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