CEO Jon Swets was paid $533,935 in fiscal year 2023, ↑ up 13.7% from fiscal year 2022 (SEC filing 0001437749-24-013731 ↗): 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.
$685,113 Ronald Haan total, FY2023 Retired Chief Executive Officer and President and a director of the Company and the Bank — highest-paid officer; CEO Jon Swets: $533,935 | — CEO (Jon Swets) pay percentile vs peers | — CEO-to-median pay ratio | — Say-on-pay support, latest vote |
Track this company's pay every filing: join the Pro seat waitlist
Velarion Pro: every company page, peer tools and exports, one seat — $1,200/year
Ask our research desk — $99, 24h, every figure cited to its filing.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Ronald Haan | $479,170 | $0 | $0 | $0 | $0 | $0 | $205,946 | $685,113 |
| Retired Chief Executive Officer and President and a director of the Company and the Bank | ||||||||
| Jon Swets | 410,417 | 0 | 104,996 | 0 | 0 | 0 | 15,522 | 533,935 |
| Chief Executive Officer and President and a director of the Company and the Bank | ||||||||
| Craig Hankinson | 398,750 | 0 | 94,990 | 0 | 0 | 0 | 15,522 | 509,262 |
| Senior Vice President of the Company and Chief Operating Officer of the Bank | ||||||||
| Jill Walcott | 308,333 | 0 | 69,994 | 0 | 0 | 0 | 10,630 | 388,957 |
| Senior Vice President of the Company and Chief Retail Banking Officer 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.
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Ronald Haan | $685,113 | $684,050 | $637,653 | ↑ +1,063 |
| Jon Swets | 533,935 | 469,512 | 433,121 | ↑ +64,423 |
| Craig Hankinson | 509,262 | 469,512 | 442,036 | ↑ +39,750 |
| Jill Walcott | 388,957 | 337,211 | — | ↑ +51,746 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
You have just read Macatawa Bank's Summary Compensation Table. The whole free brief as a PDF, emailed now, with every figure cited — then a few short notes on the deeper MCBC reports.
We send the PDF right away, then up to three short notes. Reply “unsubscribe” to any of them, any time.
How we handle your data → Privacy
Each company listed discloses MCBC 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 MCBC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Every insider equity transaction reported on Form 4 after the 2023 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Birgit M. Klohs | Director | 2024-08-01 | D | 17,269 | — | — | Common | Form 4 ↗ |
| Michael K. Le Roy | Director | 2024-08-01 | D | 1,000 | — | — | Common | Form 4 ↗ |
| Michael K. Le Roy | Director | 2024-08-01 | D | 11,702 | — | — | Common | Form 4 ↗ |
| Douglas B. Padnos | Director | 2024-08-01 | D | 10,281.33 | — | — | Common | Form 4 ↗ |
| Douglas B. Padnos | Director | 2024-08-01 | D | 5,500 | — | — | Common | Form 4 ↗ |
| Douglas B. Padnos | Director | 2024-08-01 | D | 120,087 | — | — | Common | Form 4 ↗ |
| Jon Swets | Director | 2024-08-01 | D | 150,507 | — | — | Common | Form 4 ↗ |
| Richard L. Postma | Director | 2024-08-01 | D | 1,559,639 | — | — | Common | Form 4 ↗ |
| Jill Walcott | See remarks | 2024-08-01 | D | 87,970 | — | — | Common | Form 4 ↗ |
| White Bay Capital, LLLP | Greater-than-10% holder | 2024-08-01 | D | 5,319,788 | — | — | Common | Form 4 ↗ |
| Bryan L. Barker | Chief Financial Officer, SVP | 2024-08-01 | D | 5,576 | — | — | Common | Form 4 ↗ |
| Bryan L. Barker | Chief Financial Officer, SVP | 2024-08-01 | D | 10,964 | — | — | Common | Form 4 ↗ |
| Charles A. Geenen | Director | 2024-08-01 | D | 122,724 | — | — | Common | Form 4 ↗ |
| Charles A. Geenen | Director | 2024-08-01 | D | 1,000 | — | — | Common | Form 4 ↗ |
| Craig Hankinson | Chief Operating Officer | 2024-08-01 | D | 81,742 | — | — | Common | Form 4 ↗ |
| Robert L. Herr | Director | 2024-08-01 | D | 1,000 | — | — | Common | Form 4 ↗ |
| Robert L. Herr | Director | 2024-08-01 | D | 27,077 | — | — | Common | Form 4 ↗ |
| Ronald L. Haan | Director | 2024-08-01 | D | 314,088 | — | — | Common | Form 4 ↗ |
| Thomas P. Rosenbach | Director | 2024-08-01 | D | 75,702 | — | — | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Jon Swets | RSU | 2023-11-16 | — | — | 10,703 | — | $104,996 |
| Jill Walcott | RSU | 2023-11-16 | — | — | 7,135 | — | 69,994 |
| Craig Hankinson | RSU | 2023-11-16 | — | — | 9,683 | — | 94,990 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Jon Swets | $104,996 | $0 | $0 | 0.0% |
| Jill Walcott | 69,994 | 0 | 0 | 0.0% |
| Craig Hankinson | 94,990 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jon Swets | RSU | 10,703 | — | $120,730 |
| Jon Swets | RSU | 5,069 | — | 57,178 |
| Craig Hankinson | RSU | 9,683 | — | 109,224 |
| Jill Walcott | RSU | 7,135 | — | 80,483 |
| Craig Hankinson | RSU | 5,069 | — | 57,178 |
| Craig Hankinson | RSU | 2,854 | — | 32,193 |
| Jill Walcott | RSU | 2,684 | — | 30,276 |
| Jon Swets | RSU | 2,474 | — | 27,907 |
| Jill Walcott | RSU | 1,522 | — | 17,168 |
Macatawa's philosophy is to maximize long-term shareholder return consistent with its commitments to maintain the safety and soundness of the institution and provide the highest possible level of service at a fair price to the customers and communities that it serves. The Company provides competitive salaries and appropriate incentives to achieve long-term shareholder return, aligning management interests with shareholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | McLagan, AON Hewitt |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Thomas P. RosenbachIndependent · Audit Committee (Chair) · Compensation Committee · Governance Committee | $49,800 | $18,992 | — | — | $0 | $68,792 |
| Robert L. HerrIndependent · Audit Committee · Compensation Committee | 46,200 | 18,992 | — | — | 0 | 65,192 |
| Charles A. GeenenIndependent · Compensation Committee | 42,900 | 18,992 | — | — | 0 | 61,892 |
| Douglas B. PadnosIndependent · Compensation Committee · Governance Committee | 42,300 | 18,992 | — | — | 0 | 61,292 |
| Michael K. Le RoyIndependent · Audit Committee · Compensation Committee | 41,900 | 18,992 | — | — | 0 | 60,892 |
| Birgit M. KlohsIndependent · Audit Committee · Governance Committee | 41,900 | 18,992 | — | — | 0 | 60,892 |
| Nicole S. DandridgeIndependent · Audit Committee · Governance Committee | 40,800 | 18,992 | — | — | 0 | 59,792 |
| Jon W. SwetsEmployee director · Partial-year service | — | — | — | — | — | 0 |
| Richard L. PostmaIndependent · Board Chair · Audit Committee · Compensation Committee (Chair) · Governance Committee (Chair) | 0 | 0 | — | — | 0 | 0 |
| Ronald L. HaanIndependent · Newly elected | — | — | — | — | — | — |
| Annual cash retainer | $6,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | $9,000 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $305,800 |
| Equity awards (grant-date value) | $132,944 |
| All other compensation | $0 |
| Total cost of the board | $438,744 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
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 | Macatawa Bank | 2023 | Jon Swets | $410,417 | $104,996 | $0 | $0 | $533,935 |
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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Ronald Haan | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation”. As printed: 685,113. Filing ↗machine: r11 · c28 · span 207947–207954 |
| 2 | Section 01, Jon Swets | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation”. As printed: 533,935. Filing ↗ |
| 3 | Section 01, Craig Hankinson | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation”. As printed: 509,262. Filing ↗machine: r5 · c28 · span 181457–181464 |
| 4 | Section 01, Jill Walcott | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation”. As printed: 388,957. Filing ↗machine: r8 · c28 · span 194391–194398 |
| 5 | Section 03, Jon Swets RSU | 10-K | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 231984–231991 |
| 6 | Section 03, Jill Walcott RSU | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 235849–235855 |
| 7 | Section 03, Craig Hankinson RSU | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 233743–233749 |
| 8 | Section 08, Thomas P. Rosenbach | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 68,792. Filing ↗machine: span 343540–343546 |
| 9 | Section 08, Robert L. Herr | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 65,192. Filing ↗machine: span 332049–332055 |
| 10 | Section 08, Charles A. Geenen | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 61,892. Filing ↗machine: span 329806–329812 |
| 11 | Section 08, Douglas B. Padnos | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 61,292. Filing ↗machine: span 338920–338926 |
| 12 | Section 08, Michael K. Le Roy | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 60,892. Filing ↗machine: span 336539–336545 |
| 13 | Section 08, Birgit M. Klohs | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 60,892. Filing ↗machine: span 334293–334299 |
| 14 | Section 08, Nicole S. Dandridge | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 59,792. Filing ↗machine: span 327561–327567 |
| 15 | Section 08, Jon W. Swets | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 08, Richard L. Postma | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Ronald L. Haan | DEF 14A | 2024-04-29 | 0001437749-24-013731 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 18 | Section 02, Birgit M. Klohs 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085148 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Michael K. Le Roy 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085152 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Michael K. Le Roy 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085152 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Douglas B. Padnos 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085156 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Douglas B. Padnos 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085156 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Douglas B. Padnos 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085156 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Jon Swets 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085150 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Richard L. Postma 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085154 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Jill Walcott 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085159 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, White Bay Capital, LLLP 2024-08-01 | Form 4 | 2024-08-01 | 0001104659-24-084963 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Bryan L. Barker 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085149 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Bryan L. Barker 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085149 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Charles A. Geenen 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085151 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Charles A. Geenen 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085151 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, Craig Hankinson 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085153 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Robert L. Herr 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085155 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Robert L. Herr 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085155 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Ronald L. Haan 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085157 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Thomas P. Rosenbach 2024-08-01 | Form 4 | 2024-08-02 | 0001104659-24-085158 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 38 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 39 | Section 09b board cost (computed) | Computed | — | — | Cash 305,800 + equity 132,944 + all other 0 = 438,744, summed across the director compensation table rows.machine: formula: Σ = 438,744 |
| 40 | Macatawa Bank (subject), Section 10b CEO total | DEF 14A | 2024-04-29 | 0001437749-24-013731 | CEO total compensation as printed in Macatawa Bank's own proxy. As printed: 533,935. Filing ↗ |
The Pay Desk — the free weekly executive pay briefing, one company at a time, every number traceable to a public filing.
You'll confirm on The Pay Desk's sign-up page.