Greg L. Armock
About Greg L. Armock
Greg L. Armock, 54, is an independent director of ChoiceOne Financial Services, Inc. (COFS). He was appointed to the COFS board on September 8, 2021, previously served as a COFS director from October 2018 until the October 2019 merger with County Bank Corp., and has served on the ChoiceOne Bank board since January 2018. He is Owner and President of Armock Mechanical Contractors, LLC (Sparta, MI), bringing substantial small-business and entrepreneurial expertise. His current COFS board term, if re-elected in 2025, runs through the 2028 annual meeting. The board maintains an independent chair structure. Armock is one of 13 independent directors (of 15) as of year-end 2024. All directors (including Armock) met the ≥75% attendance standard in 2024 and attended the 2024 annual meeting. Mandatory retirement age is 70.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ChoiceOne Financial Services, Inc. | Director (Independent) | Sep 8, 2021–present; prior service Oct 2018–Oct 2019 | Brings business/entrepreneurial experience; nominated for term expiring 2028 |
| ChoiceOne Bank | Director | Jan 2018–present | Community banking oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Armock Mechanical Contractors, LLC (Sparta, MI) | Owner & President | Not disclosed | Small-business operator; entrepreneurial background |
| Other public company boards | — | — | No other public company directorships disclosed in biography |
Board Governance
- Committee assignments: Member, Governance & Nominating Committee (not Chair). Committee met 3 times in 2024. Not listed on Audit, Personnel & Benefits (compensation), or Risk Committees.
- Independence: Classified as independent under SEC and Nasdaq rules as of Dec 31, 2024. Independent chair (Jack G. Hendon).
- Attendance and engagement: Board held 12 regular and 1 special meeting in 2024; all directors attended at least 75% of board/committee meetings and attended the 2024 annual meeting.
- Election signal (2025 vote): Re-elected with 8,796,882 For; 542,357 Withheld; 2,667,331 broker non-votes—highest withhold count among nominees on the ballot (peer nominees For/Withheld: Burrough 9,140,033/199,206; Potes 9,271,244/67,995; Petty 9,212,658/126,581; Hicks 9,245,895/93,344).
- Term structure: Directors serve staggered three-year terms; Armock’s term runs to 2028 if elected. Age-based retirement at 70.
Fixed Compensation (Director)
| Year | Cash Fees | Stock Awards | Total |
|---|---|---|---|
| 2024 | $41,500 | $20,000 | $61,500 |
- Standard non-employee director program in 2024: $39,000 cash retainer + $20,000 equity; committee chair adders (Audit $2,500; Personnel & Compensation $1,500; Risk $1,500; Governance & Nominating $1,500). Also bank committee chair adders (Loan $2,500; Wealth $1,500; IT $1,500). Directors can elect to receive 25%/50%/75%/100% of cash fees in stock via the Directors’ Stock Purchase Plan.
- Armock elected to receive 100% of his fees in ChoiceOne stock in 2024 (alignment positive).
Performance Compensation (Director)
- Equity awards to directors are fixed-value annual grants; no performance metrics disclosed for director equity.
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed in COFS proxy biography |
| Interlocks (competitors/suppliers/customers) | None disclosed; related-party transactions limited to ordinary-course bank relationships reviewed by the Audit Committee |
Expertise & Qualifications
- Small-business owner/operator with entrepreneurial background (Armock Mechanical Contractors).
- Governance experience across COFS and ChoiceOne Bank since 2018/2021.
Equity Ownership
| Holder | Sole Voting & Dispositive | Shared Voting/Dispositive | Options | Total Beneficial | % of Class |
|---|---|---|---|---|---|
| Greg L. Armock | 17,083 | 40,831 | — | 57,914 | <1% |
- Director ownership guideline: ≥5,000 shares; all non-employee directors (including Armock) in compliance.
- Anti-hedging/pledging: Hedging prohibited; pledging generally prohibited except limited exception for FDIC-insured loans; no pledging disclosed for Armock (a different director, Burrough, disclosed pledged shares).
Governance Assessment
- Strengths: Independent director; active on Governance & Nominating; 100% election of fees in stock and ownership well above 5,000-share guideline (alignment). Board maintains independent chair; robust anti-hedging policy; all directors met attendance thresholds and attended the annual meeting.
- Shareholder signals: Armock received the highest withhold votes among 2025 COFS nominees (542,357 withheld), a modest cautionary signal on investor support relative to peers; continued investor engagement advisable. Company-level say-on-pay support remained strong (For 8,625,296; Against 488,518; Abstain 225,425) and annual frequency preference affirmed, reflecting broader governance support.
- Conflicts/related-party exposure: No reported related-party transactions beyond ordinary-course banking relationships at market terms; Audit Committee oversees and approves related-person transactions. No hedging/pledging concerns disclosed for Armock.
- Tenure and succession: Age 54; well below mandatory retirement age of 70; term expiring 2028 supports continuity.
RED FLAGS: Elevated withhold votes relative to peer nominees in 2025 (542,357 withheld) warrant monitoring of shareholder feedback and alignment with governance expectations.