Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-06

ChoiceOne Financial Services Inc (COFS)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,181,700
Kelly Potes total, FY2025
CEO pay percentile vs peers
CEO-to-median pay ratio
95.6%
Say-on-pay support, latest vote
Companies that benchmark against COFS
3 companies name COFS as a compensation peer

Each company listed discloses COFS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named COFS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Kelly Potes$550,000$0$260,700$0$325,875$0$45,125$1,181,700
Chief Executive Officer of ChoiceOne and ChoiceOne Bank
Michael Burke405,0000143,9780215,966040,511805,455
President of ChoiceOne and ChoiceOne Bank
Adom Greenland300,000088,8750142,200015,401546,476
Executive Vice President & Chief Financial Officer of ChoiceOne Bank
Bradley Henion290,000085,9130137,460016,069529,442
Executive Vice President & Chief Lending Officer of ChoiceOne Bank

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Kelly Potes$1,181,700$888,391+293,309
Michael Burke805,455626,771+178,684
Adom Greenland546,476
Bradley Henion529,442397,148+132,294

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Kelly PotesDirector2026-04-30A4,416$0$0CommonForm 4 ↗
Bradley HenionE.V.P. - ChoiceOne Bank (Sub.)2026-04-30A1,45500CommonForm 4 ↗
Adom GreenlandSecretary2026-04-30D127303,814CommonForm 4 ↗
Adom GreenlandSecretary2026-04-30A1,50600CommonForm 4 ↗
Michael J. Burke Jr.Director2026-04-30D252307,568CommonForm 4 ↗
Michael J. Burke Jr.Director2026-04-30A2,43900CommonForm 4 ↗
Kelly PotesDirector2026-04-30D4503013,514CommonForm 4 ↗
Bradley HenionE.V.P. - ChoiceOne Bank (Sub.)2026-04-30D137304,114CommonForm 4 ↗
Randy D. HicksDirector2026-07-01A4893416,626CommonForm 4 ↗
Brian P. PettyDirector2026-07-01A4893416,626CommonForm 4 ↗
Eric (Rick) E. BurroughDirector2026-07-01A4893416,626CommonForm 4 ↗
Roxanne M. PageDirector2026-07-01A202346,868CommonForm 4 ↗
Curt E. CoulterDirector2026-07-01A202346,868CommonForm 4 ↗
Greg L. ArmockDirector2026-07-01A4893416,626CommonForm 4 ↗
Harold J. BurnsDirector2026-07-01A4893416,626CommonForm 4 ↗
Michelle M. WendlingDirector2026-07-01A202346,868CommonForm 4 ↗
Steven T. KrauseDirector2026-07-01A4893416,626CommonForm 4 ↗
Bradley F. McGinnisDirector2026-07-01A4893416,626CommonForm 4 ↗
Gregory A. McConnellDirector2026-07-01A202346,868CommonForm 4 ↗
Bruce John Essex JrDirector2026-07-01A202346,868CommonForm 4 ↗
Keith D. BrophyDirector2026-07-01A3453411,730CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Michael BurkeOTHER$143,978
Bradley HenionOTHER85,913
Kelly PotesPSU1,573
Kelly PotesRSU2,204
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Kelly PotesPSU1,573$46,435
Bradley HenionRSU56016,531
Adom GreenlandPSU54516,088
Bradley HenionPSU56016,531
Bradley HenionRSU47914,140
Adom GreenlandRSU56016,531
Bradley HenionPSU47914,140
Bradley HenionRSU65819,424
Kelly PotesRSU1,57246,405
Bradley HenionPSU65819,424
Kelly PotesPSU2,20465,062
Adom GreenlandPSU56016,531
Kelly PotesRSU2,20465,062
Michael BurkePSU1,19435,247
Michael BurkeRSU1,19435,247
Michael BurkeRSU81223,970
Adom GreenlandRSU65819,424
Michael BurkePSU81223,970
Adom GreenlandPSU65819,424
Kelly PotesPSU1,97258,213
Kelly PotesRSU1,60647,409
Kelly PotesPSU1,60547,380
Michael BurkePSU1,32939,232
Michael BurkeRSU86525,535
Michael BurkePSU86525,535
Bradley HenionPSU61518,155
Adom GreenlandRSU44213,048
Adom GreenlandPSU44213,048
05

Incentive-plan design — the Compensation Discussion & Analysis

ChoiceOne has designed its executive compensation programs to attract, motivate, reward, and retain executive management talent, and to encourage executive management to manage the Company to achieve corporate objectives and increase shareholder value through long-term profitable growth. The Personnel and Benefits Committee believes compensation programs strike an appropriate balance between incentivizing growth while not encouraging excessive risk-taking, and are appropriate given the size of the Company, the market for executive talent, and the Company's short-term and long-term strategic objectives.

CEO STI target (% of salary)45%
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-208,775,182403,896179,86795.6%Passed
20252025-05-218,625,296488,518225,42594.64%Passed
20232023-05-243,318,890354,780147,99890.34%Passed
20222022-05-253,436,050480,40372,60587.73%Passed
20212021-05-273,996,812424,282191,81886.64%Passed
20202020-05-293,013,523468,880186,04986.54%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2095.6%a
20252025-05-2194.64%b
20232023-05-2490.34%c

a. Approved under the standard stated in the filing — “Abstentions, broker non-votes and other shares that are not voted will not be counted as voted.”.

b. Approved under the standard stated in the filing — “Abstentions, broker non-votes and other shares that are not voted will not be counted as voted.”.

c. Approved under the standard stated in the filing — “Abstentions, broker non-votes and other shares that are not voted will not be counted as voted.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Gregory A. McConnellIndependent · Audit · Governance and Nominating (Chair)$45,500$25,625$0$0$71,125
Greg L. ArmockIndependent · Governance and Nominating41,50025,6250067,125
Roxanne M. PageIndependent · Audit (Chair) · Personnel and Benefits · Governance and Nominating41,50025,6250067,125
Michelle M. WendlingIndependent · Risk (Chair) · Personnel and Benefits40,50025,6250066,125
Harold J. BurnsIndependent · Personnel and Benefits (Chair) · Governance and Nominating40,50025,6250066,125
Keith D. BrophyIndependent · Audit40,50025,6250066,125
Curt E. CoulterIndependent · Risk40,50025,6250066,125
Bruce John Essex, JrIndependent · Risk39,00025,62500064,625
Bradley F. McGinnisIndependent · Audit · Personnel and Benefits39,00025,6250064,625
Eric (Rick) E. BurroughIndependent · Personnel and Benefits · Governance and Nominating39,00025,6250064,625
Bruce John Essex JrIndependent · Risk39,00025,6250064,625
Jack G. HendonIndependent · Risk · Departed during FY39,25018,7500058,000
Brian P. PettyIndependent · Governance and Nominating · Risk · Newly elected32,50022,2920054,792
Randy D. HicksIndependent · Personnel and Benefits · Newly elected32,50022,2920054,792
Steven T. KrauseIndependent · Audit · Risk · Newly elected31,83322,2920054,125
Michael (Mike) J. Burke JrEmployee director · Risk00000
Michael (Mike) J. Burke, JrEmployee director · Risk00000
Kelly J. PotesEmployee director · Risk00000
09

Board fee structure and ownership guideline

Annual cash retainer$39,000
Annual equity retainer$20,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)2,500 / 1,500 / 1,500
Stock ownership guideline$5,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$582,583
Equity awards (grant-date value)$367,501
All other compensation$0
Total cost of the board$950,084

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1ChoiceOne Financial Services Inc2025Kelly Potes$550,000$260,700$0$325,875$1,181,700

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at ChoiceOne Financial Services Inc in fiscal 2025?
As disclosed, Kelly Potes served as Chief Executive Officer of ChoiceOne and ChoiceOne Bank and received total compensation of $1,181,700 in fiscal 2025.
How does ChoiceOne Financial Services Inc's chief executive pay compare to its disclosed peer group?
The filing shows the CEO pay percentile of disclosed peers was not disclosed for ChoiceOne Financial Services Inc in fiscal 2025.
What is ChoiceOne Financial Services Inc's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was not disclosed in this extract for ChoiceOne Financial Services Inc in fiscal 2025.
How did shareholders vote on ChoiceOne Financial Services Inc's executive compensation?
Shareholders supported the executive compensation plan with 95.6% approval in the latest vote.
How much does ChoiceOne Financial Services Inc spend in total on board compensation for fiscal 2025?
The company reported total board compensation of $950,084 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Kelly PotesDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation”. As printed: 1,181,700. Filing ↗machine: t47 · r3 · c24 · span 248939–248948
2Section 01, Michael BurkeDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation”. As printed: 805,455. Filing ↗machine: t47 · r5 · c24 · span 257923–257930
3Section 01, Adom GreenlandDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation”. As printed: 546,476. Filing ↗machine: t47 · r9 · c24 · span 275724–275731
4Section 01, Bradley HenionDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation”. As printed: 529,442. Filing ↗machine: t47 · r7 · c24 · span 267025–267032
5Section 03, Michael Burke OTHERDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t47 · r5 · c12 · span 255890–255897
6Section 03, Bradley Henion OTHERDEF 14A2026-04-130001140361-26-014320Section “Summary Compensation Table” · grants of plan-based awards table. Filing ↗machine: t47 · r7 · c12 · span 264705–264711
7Section 03, Kelly Potes PSUDEF 14A2026-04-130001140361-26-014320Section “EPS F” · grants of plan-based awards table. Filing ↗machine: t54 · r8 · c19 · span 350925–350930
8Section 03, Kelly Potes RSUDEF 14A2026-04-130001140361-26-014320Section “EPS F” · grants of plan-based awards table. Filing ↗machine: t54 · r6 · c13 · span 341413–341418
9Section 07, pay ratio10-K2026-03-130001193125-26-105046Section “CEO Pay Ratio”. As printed: —. Filing ↗
10Section 08, Gregory A. McConnellDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 71,125. Filing ↗machine: t62 · r13 · c9 · span 490995–491002
11Section 08, Greg L. ArmockDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 67,125. Filing ↗machine: t62 · r3 · c9 · span 472111–472118
12Section 08, Roxanne M. PageDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 67,125. Filing ↗machine: t62 · r15 · c9 · span 494741–494748
13Section 08, Michelle M. WendlingDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 66,125. Filing ↗machine: t62 · r18 · c9 · span 500252–500259
14Section 08, Harold J. BurnsDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 66,125. Filing ↗machine: t62 · r6 · c9 · span 477731–477738
15Section 08, Keith D. BrophyDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 66,125. Filing ↗machine: t62 · r4 · c9 · span 473847–473854
16Section 08, Curt E. CoulterDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 66,125. Filing ↗machine: t62 · r8 · c9 · span 481481–481488
17Section 08, Bruce John Essex, JrDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 64,625. Filing ↗machine: t62 · r9 · c9 · span 483493–483500
18Section 08, Bradley F. McGinnisDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 64,625. Filing ↗machine: t62 · r14 · c9 · span 492735–492742
19Section 08, Eric (Rick) E. BurroughDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 64,625. Filing ↗machine: t62 · r7 · c9 · span 479745–479752
20Section 08, Bruce John Essex JrDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 64,625. Filing ↗machine: t62 · r9 · c9 · span 483493–483500
21Section 08, Jack G. HendonDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 58,000. Filing ↗machine: t62 · r10 · c9 · span 485242–485249
22Section 08, Brian P. PettyDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 54,792. Filing ↗machine: t62 · r16 · c9 · span 496473–496480
23Section 08, Randy D. HicksDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 54,792. Filing ↗machine: t62 · r11 · c9 · span 487250–487257
24Section 08, Steven T. KrauseDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 54,125. Filing ↗machine: t62 · r12 · c9 · span 488984–488991
25Section 08, Michael (Mike) J. Burke JrDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 0. Filing ↗machine: t62 · r5 · c9 · span 475905–475907
26Section 08, Michael (Mike) J. Burke, JrDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 0. Filing ↗machine: t62 · r5 · c9 · span 475905–475907
27Section 08, Kelly J. PotesDEF 14A2026-04-130001140361-26-014320Section “Director Compensation”. As printed: 0. Filing ↗machine: t62 · r17 · c9 · span 498517–498519
28Section 02, Kelly Potes 2026-04-30Form 42026-05-040000905729-26-000089Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Bradley Henion 2026-04-30Form 42026-05-040000905729-26-000092Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Adom Greenland 2026-04-30Form 42026-05-040000905729-26-000091Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Adom Greenland 2026-04-30Form 42026-05-040000905729-26-000091Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Michael J. Burke Jr. 2026-04-30Form 42026-05-040000905729-26-000090Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Michael J. Burke Jr. 2026-04-30Form 42026-05-040000905729-26-000090Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Kelly Potes 2026-04-30Form 42026-05-040000905729-26-000089Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Bradley Henion 2026-04-30Form 42026-05-040000905729-26-000092Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Randy D. Hicks 2026-07-01Form 42026-07-060000905729-26-000122Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Brian P. Petty 2026-07-01Form 42026-07-060000905729-26-000127Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Eric (Rick) E. Burrough 2026-07-01Form 42026-07-060000905729-26-000119Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Roxanne M. Page 2026-07-01Form 42026-07-060000905729-26-000126Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Curt E. Coulter 2026-07-01Form 42026-07-060000905729-26-000120Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Greg L. Armock 2026-07-01Form 42026-07-060000905729-26-000116Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Harold J. Burns 2026-07-01Form 42026-07-060000905729-26-000118Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Michelle M. Wendling 2026-07-01Form 42026-07-060000905729-26-000128Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Steven T. Krause 2026-07-01Form 42026-07-060000905729-26-000123Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Bradley F. McGinnis 2026-07-01Form 42026-07-060000905729-26-000125Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Gregory A. McConnell 2026-07-01Form 42026-07-060000905729-26-000124Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Bruce John Essex Jr 2026-07-01Form 42026-07-060000905729-26-000121Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Keith D. Brophy 2026-07-01Form 42026-07-060000905729-26-000117Insider equity transaction reported since the proxy statement. Filing ↗
49Section 06, 2026 voteForm 8-K2026-05-220000905729-26-000109Item 5.07 · say-on-pay result. As reported: 95.6% (votes for as printed: 8,775,182). Filing ↗
50Section 06, 2025 voteForm 8-K2025-05-270000803164-25-000014Item 5.07 · say-on-pay result. As reported: 94.64% (votes for as printed: 8,625,296). Filing ↗
51Section 06, 2023 voteForm 8-K2023-05-260000905729-23-000094Item 5.07 · say-on-pay result. As reported: 90.34% (votes for as printed: 3,318,890). Filing ↗
52Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
53Section 09b board cost (computed)ComputedcomputedCash 582,583 + equity 367,501 + all other 0 = 950,084, summed across the director compensation table rows.machine: formula: Σ = 950,084
54ChoiceOne Financial Services Inc (subject), Section 10b CEO totalDEF 14A2026-04-130001140361-26-014320CEO total compensation as printed in ChoiceOne Financial Services Inc's own proxy. As printed: 1,181,700. Filing ↗machine: t47 · r3 · c24 · span 248939–248948