Companies HMN Financial Inc
HMN Financial (HMNF): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
HMN Financial Inc no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $517,015FY2022
- $498,021FY2023
CEO total pay was $498,021 in fiscal 2023, down from $517,015 in fiscal 2022.
FY2023: salary $392,000 · bonus $0 · stock awards $60,162 · option awards $0
Frequently asked questions
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.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Bradley Krehbiel | $392,000 | $0 | $60,162 | $0 | $22,062 | $0 | $23,797 | $498,021 |
| President and CEO of the company and bank | ||||||||
| Jon Eberle | 262,158 | 0 | 40,821 | 0 | 28,920 | 0 | 24,156 | 356,055 |
| Senior Vice President, CFO and Treasurer of the company and Executive Vice President, CFO and Treasurer of the bank | ||||||||
| Lawrence McGraw | 272,353 | 0 | 40,821 | 0 | 15,028 | 0 | 22,447 | 350,649 |
| Executive Vice President and COO of the 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 officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Bradley Krehbiel | $498,021 | $517,015 | — | ↓ −18,994 |
| Jon Eberle | 356,055 | 358,648 | — | ↓ −2,593 |
| Lawrence McGraw | 350,649 | 357,217 | — | ↓ −6,568 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The compensation committee refines the company's compensation philosophy with the assistance of an independent consultant, defining peer groups and analyzing compensation elements to ensure alignment with regulatory requirements and market practices. The program provides performance-based annual incentive opportunities under the Executive Management Incentive Plan (EMI Plan) based on pre-defined performance objectives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Blanchard Consulting Group |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jon Eberle | RSA | — | — | — | 1,314 | — | $28,908 |
| Bradley Krehbiel | RSA | — | — | — | 2,004 | — | 44,088 |
| Lawrence McGraw | RSA | — | — | — | 1,365 | — | 30,030 |
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.
Outstanding equity awards at fiscal year-end 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jon Eberle | RSU | 4,294 | — | $98,762 |
| Lawrence McGraw | RSU | 4,294 | — | 98,762 |
| Bradley Krehbiel | RSU | 6,328 | — | 145,544 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Wendy S. ShannonIndependent · Board Chair · Compensation Committee (Chair) · Executive Committee | $49,300 | $3,984 | — | — | — | $53,284 |
| Jeffrey W. BoltonIndependent · Audit Committee (Chair) · Governance and Nominating Committee | 28,050 | 8,987 | — | — | — | 37,037 |
| Barbara Butts WilliamsIndependent · Compensation Committee | 22,350 | 8,987 | — | — | — | 31,337 |
| Mark E. UtzIndependent · Compensation Committee · Governance and Nominating Committee (Chair) | 25,200 | 3,984 | — | — | — | 29,184 |
| Hans K. ZietlowIndependent · Governance and Nominating Committee | 23,300 | 3,984 | — | — | — | 27,284 |
| David R. OethIndependent · Audit Committee · Governance and Nominating Committee · Newly elected | 17,970 | 8,987 | — | — | — | 26,957 |
| Sequoya S. BorgmanIndependent · Audit Committee · Compensation Committee | 21,950 | 3,984 | — | — | — | 25,934 |
| Pamela K. BishopIndependent · Newly elected | 15,820 | 8,987 | — | — | — | 24,807 |
| Bernard NigonIndependent · Departed during FY | 10,480 | 0 | — | — | — | 10,480 |
| Allen BerningIndependent · Departed during FY | 8,680 | 0 | — | — | — | 8,680 |
Board fee structure and ownership guideline
| Annual cash retainer | $15,000 |
|---|---|
| Annual equity retainer | $4,000 |
| Per board meeting fee | $500 |
| Committee chair fees (audit / comp / nom-gov) | 18,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $223,100 |
| Equity awards (grant-date value) | $51,884 |
| All other compensation | $0 |
| Total cost of the board | $274,984 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names HMN Financial as a peer
Companies that benchmark against HMNF
- IF Bancorp, Inc.IROQFY2024
Each company listed discloses HMNF in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons.
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.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | HMN Financial Inc | 2023 | Bradley Krehbiel | $392,000 | $60,162 | $0 | $22,062 | $498,021 |
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.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (19 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Bradley Krehbiel. DEF 14A, filed 2024-03-21. Section “Executive Compensation”. As printed: 498,021. View filing ↗
- Section 01, Jon Eberle. DEF 14A, filed 2024-03-21. Section “Executive Compensation”. As printed: 356,055. View filing ↗
- Section 01, Lawrence McGraw. DEF 14A, filed 2024-03-21. Section “Executive Compensation”. As printed: 350,649. View filing ↗
- Section 03, Jon Eberle RSA. DEF 14A, filed 2024-03-21. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Bradley Krehbiel RSA. DEF 14A, filed 2024-03-21. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Lawrence McGraw RSA. DEF 14A, filed 2024-03-21. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 08, Wendy S. Shannon. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 53,284. View filing ↗
- Section 08, Jeffrey W. Bolton. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 37,037. View filing ↗
- Section 08, Barbara Butts Williams. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 31,337. View filing ↗
- Section 08, Mark E. Utz. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 29,184. View filing ↗
- Section 08, Hans K. Zietlow. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 27,284. View filing ↗
- Section 08, David R. Oeth. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 26,957. View filing ↗
- Section 08, Sequoya S. Borgman. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 25,934. View filing ↗
- Section 08, Pamela K. Bishop. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 24,807. View filing ↗
- Section 08, Bernard Nigon. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 10,480. View filing ↗
- Section 08, Allen Berning. DEF 14A, filed 2024-03-21. Section “Director Compensation”. As printed: 8,680. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 223,100 + equity 51,884 + all other 0 = 274,984, summed across the director compensation table rows.
- HMN Financial Inc (subject), Section 10b CEO total. DEF 14A, filed 2024-03-21. CEO total compensation as printed in HMN Financial Inc's own proxy. As printed: 498,021. View filing ↗