Banking
ChoiceOne Financial Services Executive Compensation (FY25)
COFS · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Kelly Potes | Latest say-on-pay support = May 20, 2026 |
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The paid brief on ChoiceOne Financial Services
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Data as of October 22, 2026Latest filing (8-K): May 22, 2026
12 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Velarion Member, one year
210 figures on this page: 201 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
This company is not required to report a chief executive pay ratio.
More on ChoiceOne Financial Services
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Kelly Potes: $888,391 → $1,181,700 (33.0% higher)
Say-on-pay support: 94.6% → 95.6% (1.0 points higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is ChoiceOne Financial Services' chief executive and what were they paid?
Kelly Potes, Chief Executive Officer of ChoiceOne and ChoiceOne Bank, received $1,181,700 in total compensation for fiscal 2025. Compared with the $888,391 reported for fiscal 2024, Potes' total was 33.0% higher.
What was ChoiceOne Financial Services' say-on-pay result?
The say-on-pay proposal drew 95.6% of votes cast for or against in favor at the meeting held May 20, 2026 for fiscal 2025.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Kelly Potes Chief Executive Officer of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Burke President of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Bradley Henion Senior Vice President & Chief Lending Officer of ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Kelly Potes Chief Executive Officer of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Burke President of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Bradley Henion Executive Vice President & Chief Lending Officer of ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Kelly Potes Chief Executive Officer of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Burke President of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Bradley Henion Executive Vice President & Chief Lending Officer of ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Kelly Potes Chief Executive Officer of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Michael Burke President of ChoiceOne and ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Adom Greenland Executive Vice President & Chief Financial Officer of ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Bradley Henion Executive Vice President & Chief Lending Officer of ChoiceOne Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Bradley A. Henion | OTHER | — | — | — | — | — | — | ◇ |
| Kelly J. Potes | PSU | — | — | ◇ | — | — | — | — |
| Kelly J. Potes | RSU | — | — | — | ◇ | — | — | — |
| Michael J. Burke Jr. | OTHER | — | — | — | — | — | — | ◇ |
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Kelly Potes | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Bradley Henion | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Adom Greenland | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Michael Burke | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Bradley Henion
Executive Vice President & Chief Lending Officer of ChoiceOne Bank · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Equity acceleration on change in control | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Gregory A. McConnell | ◇ | ◇ | — | — | — | — | ◇ |
Roxanne M. Page | ◇ | ◇ | — | — | — | — | ◇ |
Greg L. Armock | ◇ | ◇ | — | — | — | — | ◇ |
Harold J. Burns | ◇ | ◇ | — | — | — | — | ◇ |
Keith D. Brophy | ◇ | ◇ | — | — | — | — | ◇ |
Michelle M. Wendling | ◇ | ◇ | — | — | — | — | ◇ |
Curt E. Coulter | ◇ | ◇ | — | — | — | — | ◇ |
Bruce John Essex, Jr | ◇ | ◇ | — | — | — | — | ◇ |
Bradley F. McGinnis | ◇ | ◇ | — | — | — | — | ◇ |
Eric (Rick) E. Burrough | ◇ | ◇ | — | — | — | — | ◇ |
Jack G. Hendon | ◇ | ◇ | — | — | — | — | ◇ |
Randy D. Hicks | ◇ | ◇ | — | — | — | — | ◇ |
Brian P. Petty | ◇ | ◇ | — | — | — | — | ◇ |
Steven T. Krause | ◇ | ◇ | — | — | — | — | ◇ |
Kelly J. Potes and Michael (Mike) J. Burke, Jr served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Compensation committee chair | ◇ |
Equity is delivered as Stock.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 20, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 21, 2025 | = | ◇ | ◇ | ◇ |
| 2022 | May 24, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 25, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 27, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 29, 2020 | = | ◇ | ◇ | ◇ |
| 2017 | May 23, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 24, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 18, 2016 | = | ◇ | ◇ | ◇ |
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Sample answer — “What is the CEO’s total compensation?”
- Kelly Potes (Chief Executive Officer of ChoiceOne and ChoiceOne Bank), FY2025 total compensation $1,181,700 (base salary $550,000) [exec_comp, SEC accession 0001140361-26-014320, filed 2026-04-13]What this page does not include
Everything above is a fact ChoiceOne Financial Services disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
210 figures on this page: 201 cited to the filing that reported them, 9 calculated from figures it prints.
201 cited to the filing
9 calculated from the filing
Documents cited
- 0000905729-26-000109Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-26-014320Director Compensation · EPS F · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation · and 1 more section
- 0000803164-25-000014Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-25-012677Compensation Discussion and Analysis · Summary Compensation
- 0001140361-24-019349
- 0000905729-23-000094
- 0000905729-22-000140
- 0000905729-21-000129
- 0000905729-20-000117
- 0000905729-18-000112
- 0000905729-17-000214
- 0000905729-16-000590
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “ChoiceOne Financial Services executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/COFS (accessed 2026).
Short form: data: Velarion
The paid brief for ChoiceOne Financial Services
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
12 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}