Christopher Vaske
About Christopher Vaske
Christopher J. Vaske (age 55) is Senior Vice President and Chief Lending Officer of Peru Federal Savings Bank, serving in this role since 2012. He holds a B.S. in Marketing (minor in Finance) and an MBA from the University of Iowa, and previously worked as a commercial lending officer, commercial underwriter, and credit officer at two regional financial institutions . Company performance context during his tenure: revenues increased from FY 2023 to FY 2024 (+32.1%), while net income declined (-10.2% YoY) . TSR is not disclosed in company filings.
Company Performance (FY 2023 → FY 2024)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $670,000* | $885,000 |
| Net Income ($USD) | $1,008,000 | $905,000 |
Values marked with * retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Two regional financial institutions (names not disclosed) | Commercial lending officer; commercial underwriter; credit officer | Not disclosed | Developed underwriting and credit risk capabilities relevant to community banking |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lighted Way Association | Board Treasurer | Current (as of Dec 31, 2024) | Community leadership; local stakeholder engagement |
| Autism Foundation of the Illinois Valley | Board Treasurer | Current | Community leadership; local stakeholder engagement |
| LPHS Band Parent Association | Board Treasurer | Current | Community leadership; local stakeholder engagement |
| LaSalle Rotary Park Foundation | Board Treasurer | Current | Community leadership; local stakeholder engagement |
| Depue Community Unit School District 103 | Board Treasurer | Current | Community leadership; local stakeholder engagement |
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Base Salary ($USD) | $130,000 | $135,000 |
Performance Compensation
Cash Incentives
| Component | 2023 | 2024 |
|---|---|---|
| Cash Bonus ($USD) | $10,000 | $10,000 |
| Bonus Performance Metrics | Not disclosed in proxy | Not disclosed in proxy |
All Other Compensation (Breakdown)
| Item | 2023 | 2024 |
|---|---|---|
| 401(k) Plan Matching Contribution ($USD) | $7,700 | $7,970 |
| ESOP Allocation ($USD) | — | $6,272 |
| Life Insurance Imputed Income ($USD) | $318 | $354 |
| Total All Other Compensation ($USD) | $8,018 | $14,596 |
Equity Incentive Plan Design (2025 Plan)
| Element | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Performance Awards (RSUs/Options) | Committee-defined performance goals (company-wide or unit-level; absolute or relative) | Not fixed; set per award | Set per award; may exclude extraordinary items | Determined post-performance period | Shares, cash, or combo | Minimum one-year vesting; ≥95% awards vest ≥1 year; double-trigger on change in control unless awards not assumed |
| Plan Policies | Clawback, insider trading policy, hedging/pledging restrictions apply | — | — | — | — | — |
Notes:
- The 2025 Plan was approved on May 22, 2025 (For: 842,194; Against: 218,273) .
- No equity awards were outstanding to named executive officers as of Dec 31, 2024 .
Equity Ownership & Alignment
| As of Date | Shares Owned | % of Shares Outstanding | ESOP Indirect Holdings | Pledged Shares |
|---|---|---|---|---|
| March 28, 2024 | 2,000 | <1% | Not specified for 2024 | None (no named individual pledged) |
| March 27, 2025 | 3,095 | <1% (based on 1,660,265 shares) | 1,095 shares via ESOP | None (no named individual pledged) |
Insider activity:
- Form 4 filed June 17, 2025 for period ending June 16, 2025 reflects a stock award (grant) to Christopher J. Vaske (details in filing) . Yahoo’s insider roster also lists a stock award grant on June 16, 2025 for Vaske .
Employment Terms
| Term | Detail |
|---|---|
| Current Role | SVP & Chief Lending Officer since 2012 |
| Employment Agreement | Not disclosed for Vaske in proxy; agreements are disclosed for Eric J. Heagy and Dale R. Tieman only |
| Severance / CoC | Not disclosed for Vaske; Heagy’s agreement includes severance and 3x salary+bonus upon CoC with double-trigger; included here for context only |
| Supplemental Life Insurance | Benefit to beneficiary equals lesser of 1× base salary or net death proceeds; premiums paid by Peru Federal |
| 401(k) Plan | Employer 3% non-elective contribution plus 50% match on first 5% deferral (max 2.5% match); vesting 20%/yr starting after 2 years (fully vested after 6) |
| ESOP | Participates on same terms as other employees; allocations based on compensation; vesting 20%/yr after 2 years; fully vested after 6 years |
| Equity Awards Outstanding | None as of Dec 31, 2024 |
| Hedging/Pledging Policies | Awards subject to company hedging/pledging restrictions and clawbacks |
Investment Implications
- Alignment: Ownership is modest (<1%) with ESOP participation and no pledging—reduces alignment risk of collateralized shares; new 2025 Equity Plan introduces performance-based equity tied to long-term metrics with minimum 1-year vesting and clawbacks, improving pay-for-performance linkage .
- Retention/Supply: A June 2025 Form 4 stock award indicates prospective vesting/sale windows starting at ≥1 year under the plan—monitor vesting calendars for potential insider selling pressure .
- Governance: No say‑on‑pay votes reported in 2024–2025 annual meetings (directors, auditor, and 2025 equity plan approved)—limited shareholder feedback on executive pay to date .
- Performance context: FY 2024 revenue growth (+32.1% YoY) alongside net income decline (-10.2% YoY) suggests margin pressure or mix effects; bonus remained flat ($10k) despite net income down, implying discretionary cash incentives with undisclosed metrics .