Karen R. Makowski
Equibles does not estimate personal net worth.
About Karen R. Makowski
The proxy statement of Chemung Financial Corp reports total compensation of $374,569 for Karen R. Makowski in fiscal 2019, including a base salary of $216,139. Disclosed compensation is on record for 3 fiscal years.
Affiliation history
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Chemung Financial Corp (CHMG)
Proxy statement
Start not stated–2020-01-02
Company network
Executive compensation
Compensation components disclosed in company proxy statements. Amounts are nominal USD; total is the company-reported figure.
| Fiscal year | Company | Role | Salary | Total |
|---|---|---|---|---|
| 2019 | Chemung Financial Corp (CHMG) | Executive Vice President & Chief Risk Officer The amounts shown for salary and bonus represent amounts earned in 2019, 2018 and 2017. The amounts shown for Mr. Tomson were made under the terms of the Incentive Compensation Plan. The awards are fully vested upon grant and reflect the grant date fair market value as of December 31, 2019, December 31, 2018 and December 29, 2017, respectively. The stock award granted to Mr. Tomson in 2019, 2018 and 2017 include director fees in the amount of 22,653, 24,886 and 23,146, respectively. The amounts shown for Messrs. Cole, DiFabio, Krebs and Mrs. Makowski represent shares granted under the Restricted Stock Plan and reflect the grant date fair market value as reported in Note 15 of the Corporation's audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K. Twenty percent of the restricted stock awarded vests each year commencing with the first anniversary date of the award and is 100 percent vested on the fifth anniversary date. See table on page 21 captioned “Grants of Plan-Based Awards.” The amount of the awards are determined in the discretion of the Compensation Committee as discussed on page 16. 19,471 of Mr. Tomson's bonus in 2017 was an additional cash bonus awarded to Mr. Tomson pursuant to a Bank-wide 5% cash bonus plan in which all non-sales employees participate. Other NEOs are not eligible to participate in this 5% cash bonus pool. Beginning in 2018, Mr. Tomson no longer participates in this plan. The amounts shown represent the aggregate change, during the respective year, in the present value of the named executive officers’ accumulated pension benefit from the Pension Plan. The Board approved a total "freeze" of the Pension Plan effective January 1, 2017. The amounts shown include non-discretionary and matching contributions made by the Bank to the 401(k) Plan, dividends paid on unvested restricted stock, Defined Contribution SERP contributions, and perquisites, such as car allowance or personal portion of Bank-owned vehicles and club memberships. The NEOs participate in certain group health, life, disability and medical reimbursement plans, not disclosed in the Summary Compensation Table, that are generally available to salaried employees and do not discriminate in scope, terms and operation. See table below captioned "All Other Compensation Table." | $216,139 | $374,569 |
| 2018 | Chemung Financial Corp (CHMG) | Executive Vice President & Chief Risk Officer The amounts shown for salary and bonus represent amounts earned in 2019, 2018 and 2017. The amounts shown for Mr. Tomson were made under the terms of the Incentive Compensation Plan. The awards are fully vested upon grant and reflect the grant date fair market value as of December 31, 2019, December 31, 2018 and December 29, 2017, respectively. The stock award granted to Mr. Tomson in 2019, 2018 and 2017 include director fees in the amount of 22,653, 24,886 and 23,146, respectively. The amounts shown for Messrs. Cole, DiFabio, Krebs and Mrs. Makowski represent shares granted under the Restricted Stock Plan and reflect the grant date fair market value as reported in Note 15 of the Corporation's audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K. Twenty percent of the restricted stock awarded vests each year commencing with the first anniversary date of the award and is 100 percent vested on the fifth anniversary date. See table on page 21 captioned “Grants of Plan-Based Awards.” The amount of the awards are determined in the discretion of the Compensation Committee as discussed on page 16. 19,471 of Mr. Tomson's bonus in 2017 was an additional cash bonus awarded to Mr. Tomson pursuant to a Bank-wide 5% cash bonus plan in which all non-sales employees participate. Other NEOs are not eligible to participate in this 5% cash bonus pool. Beginning in 2018, Mr. Tomson no longer participates in this plan. The amounts shown represent the aggregate change, during the respective year, in the present value of the named executive officers’ accumulated pension benefit from the Pension Plan. The Board approved a total "freeze" of the Pension Plan effective January 1, 2017. The amounts shown include non-discretionary and matching contributions made by the Bank to the 401(k) Plan, dividends paid on unvested restricted stock, Defined Contribution SERP contributions, and perquisites, such as car allowance or personal portion of Bank-owned vehicles and club memberships. The NEOs participate in certain group health, life, disability and medical reimbursement plans, not disclosed in the Summary Compensation Table, that are generally available to salaried employees and do not discriminate in scope, terms and operation. See table below captioned "All Other Compensation Table." | $207,170 | $383,267 |
| 2017 | Chemung Financial Corp (CHMG) | Executive Vice President & Chief Risk Officer The amounts shown for salary and bonus represent amounts earned in 2019, 2018 and 2017. The amounts shown for Mr. Tomson were made under the terms of the Incentive Compensation Plan. The awards are fully vested upon grant and reflect the grant date fair market value as of December 31, 2019, December 31, 2018 and December 29, 2017, respectively. The stock award granted to Mr. Tomson in 2019, 2018 and 2017 include director fees in the amount of 22,653, 24,886 and 23,146, respectively. The amounts shown for Messrs. Cole, DiFabio, Krebs and Mrs. Makowski represent shares granted under the Restricted Stock Plan and reflect the grant date fair market value as reported in Note 15 of the Corporation's audited consolidated financial statements contained in the Corporation’s Annual Report on Form 10-K. Twenty percent of the restricted stock awarded vests each year commencing with the first anniversary date of the award and is 100 percent vested on the fifth anniversary date. See table on page 21 captioned “Grants of Plan-Based Awards.” The amount of the awards are determined in the discretion of the Compensation Committee as discussed on page 16. 19,471 of Mr. Tomson's bonus in 2017 was an additional cash bonus awarded to Mr. Tomson pursuant to a Bank-wide 5% cash bonus plan in which all non-sales employees participate. Other NEOs are not eligible to participate in this 5% cash bonus pool. Beginning in 2018, Mr. Tomson no longer participates in this plan. The amounts shown represent the aggregate change, during the respective year, in the present value of the named executive officers’ accumulated pension benefit from the Pension Plan. The Board approved a total "freeze" of the Pension Plan effective January 1, 2017. The amounts shown include non-discretionary and matching contributions made by the Bank to the 401(k) Plan, dividends paid on unvested restricted stock, Defined Contribution SERP contributions, and perquisites, such as car allowance or personal portion of Bank-owned vehicles and club memberships. The NEOs participate in certain group health, life, disability and medical reimbursement plans, not disclosed in the Summary Compensation Table, that are generally available to salaried employees and do not discriminate in scope, terms and operation. See table below captioned "All Other Compensation Table." | $201,136 | $384,068 |
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