AcquisitionsApr 28, 2026, 02:52 PM
NFBK Pending Acquisition by Columbia Financial Inc.
AI Summary
Northfield Bancorp, Inc. filed a Form 10-K/A due to the pending acquisition by Columbia Financial, Inc., which delayed the filing of its definitive annual proxy statement. The amendment provides details for Part III of the Form 10-K, covering directors, executive officers, corporate governance, and executive compensation. It outlines 2025 base salary adjustments for named executive officers and the structure of the 2025 Executive Management Cash Incentive Plan, which includes financial and Community Reinvestment Act goals.
Key Highlights
- NFBK's definitive annual proxy statement delayed due to pending acquisition by Columbia Financial, Inc.
- CEO Steven M. Klein's 2025 annual base salary increased by $26,500 to $780,000.
- CFO William R. Jacobs' 2025 annual base salary increased by $14,750 to $435,000.
- 2025 Executive Cash Incentive Plan includes EPS, Loan, Deposit, DDA, and CRA goals.
- CEO's targeted cash incentive award is 50% of base salary for 2025.
- Other NEOs' targeted cash incentive award is 40% of base salary for 2025.
- Audit Committee members Catino, Chapman, Harrison, and Stahlin are designated "audit committee financial experts."
- Board of Directors includes 8 members with terms expiring between 2026 and 2028.