CHFC 2018 Proxy Statement

(17) Represents the following shares of unvested PRSUs granted to Mr. Ramaker: • 20,294 shares with a performance period ending December 31, 2018 that vest at the end of the performance period on the date of the issuance of the audit opinion with respect to our consolidated financial statements for the year ended December 31, 2018. • 14,655 shares with a performance period ending December 31, 2019 that vest at the end of the performance period on the date of the issuance of the audit opinion with respect to our consolidated financial statements for the year ended December 31, 2019. 2017 Option Exercises and Stock Vested The following table provides information concerning stock options exercised and stock awards vested in 2017 for the named executive officers: Option Awards Stock Awards Name Number of Shares Acquired on Exercise (1) Value Realized on Exercise (2) Number of Shares Acquired on Vesting (3) Value Realized on Vesting (4) David T. Provost (5) 549,406 $ 19,898,664 68,888 $ 3,206,462 Dennis L. Klaeser — — 31,151 1,460,026 Gary Torgow (5) 432,660 15,311,714 68,888 3,206,462 Thomas C. Shafer (5) 76,185 2,655,809 25,564 1,206,325 Robert S. Rathbun — — 1,416 77,610 David B. Ramaker 60,299 1,464,530 27,799 1,426,754 (1) The number of shares shown is the gross number of shares covered by stock options exercised. The Corporation’s share-based compensation plans permit the withholding of shares in payment of the stock option exercise price and for tax withholding purposes, resulting in a smaller number of shares acquired. (2) The value of exercised stock options is calculated by multiplying the number of stock options exercised by the difference between the closing price of the Corporation’s common stock on the date of the exercise and the stock option exercise price. (3) The number of shares shown is the gross number of shares covered by awards that vested in 2017. Shares for the required taxwithholding were deducted from the gross number of shares vested, resulting in a smaller number of shares acquired upon vesting. (4) The dollar values reported in this column were calculated using the closing price of our common stock as reported on The NASDAQ Stock Market ® on the vesting date of the stock awards. (5) Represents stock options that were granted by Talmer that we assumed in the merger. Pension Benefits in 2017 The following table provides information concerning pension benefits for the named executive officers who are entitled to such benefits as of December 31, 2017. Effective June 30, 2006 the Employees' Pension Plan no longer accepted new participants. Accordingly, Mr. Provost, Mr. Torgow and Mr. Klaeser, who joined the Corporation in 2016, are not participants. Name Plan Name Number of Years of Credited Service Present Value of Accumulated Benefit Payments During Last Fiscal Year David B. Ramaker Employees’ Pension Plan 27.8 $ 1,780,000 $ 36,000 Supplemental Plan 27.8 392,443 — Robert S. Rathbun Employees’ Pension Plan 30.0 1,306,000 — We have a noncontributory Pension Plan that is considered a tax-qualified retirement plan. Under the Pension Plan, we have the authority to change or terminate the Pension Plan at any time. In July 2017, recognizing that the use of Pension Plans has declined in the past several decades and to improve our operating efficiency and cost savings, the Compensation Committee determined to freeze the Pension Plan such that no additional benefits would be accrued for current participants. This action did not impact previously accrued benefits or payments being made to separated employees. 50