Fiscal year 2022 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.
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.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Ronald Haan | $540,000 | $0 | $124,992 | $0 | $0 | $0 | $19,058 | $684,050 |
| Chief Executive Officer and President | ||||||||
| Craig Hankinson | 370,000 | 0 | 84,990 | 0 | 0 | 0 | 14,522 | 469,512 |
| Senior Vice President and Chief Operating Officer | ||||||||
| Jon Swets | 370,000 | 0 | 84,990 | 0 | 0 | 0 | 14,522 | 469,512 |
| Senior Vice President and Chief Financial Officer | ||||||||
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 | FY2022 total | FY2021 total | FY2020 total | Δ FY2021→2022 |
|---|---|---|---|---|
| Ronald Haan | $684,050 | $637,653 | — | +46,397 |
| Craig Hankinson | 469,512 | 442,036 | — | +27,476 |
| Jon Swets | 469,512 | 433,121 | — | +36,391 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Ronald Haan | RSU | 2022-11-09 | — | — | 11,180 | — | $124,992 |
| Craig Hankinson | RSU | 2022-11-09 | — | — | 7,602 | — | 84,990 |
| Jon Swets | RSU | 2022-11-09 | — | — | 7,602 | — | 84,990 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Ronald Haan | $124,992 | $0 | $0 | 0.0% |
| Craig Hankinson | 84,990 | 0 | 0 | 0.0% |
| Jon Swets | 84,990 | 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 |
|---|---|---|---|---|
| Ronald Haan | RSU | 4,290 | — | $47,319 |
| Craig Hankinson | RSU | 3,218 | — | 35,495 |
| Craig Hankinson | RSU | 5,707 | — | 62,948 |
| Craig Hankinson | RSU | 7,602 | — | 83,850 |
| Jon Swets | RSU | 4,947 | — | 54,565 |
| Jon Swets | RSU | 7,602 | — | 83,850 |
| Jon Swets | RSU | 2,789 | — | 30,763 |
| Ronald Haan | RSU | 7,610 | — | 83,938 |
| Ronald Haan | RSU | 11,180 | — | 123,315 |
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.
| 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 (Chair) · Compensation · Governance | $46,900 | $18,995 | $0 | — | $0 | $65,895 |
| Robert L. HerrIndependent · Audit · Compensation | 43,450 | 18,995 | 0 | — | 0 | 62,445 |
| Charles A. GeenenIndependent · Compensation | 40,450 | 18,995 | 0 | — | 0 | 59,445 |
| Douglas B. PadnosIndependent · Compensation · Governance | 39,900 | 18,995 | 0 | — | 0 | 58,895 |
| Michael K. Le RoyIndependent · Audit · Compensation | 39,450 | 18,995 | 0 | — | 0 | 58,445 |
| Birgit M. KlohsIndependent · Audit · Governance | 39,450 | 18,995 | 0 | — | 0 | 58,445 |
| Nicole S. DandridgeIndependent · Audit · Governance | 38,450 | 18,995 | 0 | — | 0 | 57,445 |
| Richard L. PostmaIndependent · Board Chair · Audit · Compensation (Chair) · Governance (Chair) | 0 | 0 | 0 | — | 0 | 0 |
| Ronald L. HaanEmployee director | 0 | 0 | 0 | — | 0 | 0 |
| 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 | FY2022 |
|---|---|
| Cash retainers and fees | $288,050 |
| Equity awards (grant-date value) | $132,965 |
| All other compensation | $0 |
| Total cost of the board | $421,015 |
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 | 2022 | Ronald Haan | $540,000 | $124,992 | $0 | $0 | $684,050 |
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.
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 | 2023-03-17 | 0001140361-23-012299 | Section “Summary Compensation Table”. As printed: 684,050. Filing ↗machine: span 343996–344003 |
| 2 | Section 01, Craig Hankinson | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Summary Compensation Table”. As printed: 469,512. Filing ↗machine: span 347035–347042 |
| 3 | Section 01, Jon Swets | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Summary Compensation Table”. As printed: 469,512. Filing ↗machine: span 350941–350948 |
| 4 | Section 03, Ronald Haan RSU | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t147 · r1 · c5 · span 363834–363841 |
| 5 | Section 03, Craig Hankinson RSU | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t147 · r2 · c4 · span 364691–364697 |
| 6 | Section 03, Jon Swets RSU | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t147 · r3 · c4 · span 365751–365757 |
| 7 | Section 08, Thomas P. Rosenbach | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 65,895. Filing ↗machine: t161 · r8 · c10 · span 425627–425633 |
| 8 | Section 08, Robert L. Herr | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 62,445. Filing ↗machine: t161 · r3 · c10 · span 419182–419188 |
| 9 | Section 08, Charles A. Geenen | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 59,445. Filing ↗machine: t161 · r2 · c10 · span 417878–417884 |
| 10 | Section 08, Douglas B. Padnos | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 58,895. Filing ↗machine: t161 · r6 · c10 · span 423047–423053 |
| 11 | Section 08, Michael K. Le Roy | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 58,445. Filing ↗machine: t161 · r5 · c10 · span 421767–421773 |
| 12 | Section 08, Birgit M. Klohs | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 58,445. Filing ↗machine: t161 · r4 · c10 · span 420460–420466 |
| 13 | Section 08, Nicole S. Dandridge | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 57,445. Filing ↗machine: t161 · r1 · c8 · span 416599–416605 |
| 14 | Section 08, Richard L. Postma | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t161 · r7 · c8 · span 424099–424100 |
| 15 | Section 08, Ronald L. Haan | DEF 14A | 2023-03-17 | 0001140361-23-012299 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 17 | Section 03b vehicle mix (computed) | 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 |
| 18 | Section 09b board cost (computed) | Computed | — | computed | Cash 288,050 + equity 132,965 + all other 0 = 421,015, summed across the director compensation table rows.machine: formula: Σ = 421,015 |
| 19 | Macatawa Bank (subject), Section 10b CEO total | DEF 14A | 2023-03-17 | 0001140361-23-012299 | CEO total compensation as printed in Macatawa Bank's own proxy. As printed: 684,050. Filing ↗machine: span 343996–344003 |