TRUSTCO BANK CORP N Y
For the period ended May 21, 2024. Filed Apr 1, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 21, 2024 · Filed Apr 1, 2024
Contents
2023 Executive Compensation Program
For 2023, there were three basic elements to TrustCo’s executive compensation program, each of which has sub-elements:
| | Key Elements | | | Sub-Elements | |
|---|---|---|---|---|---|
| | Annual Cash Compensation | | | Salary and Executive Officer Incentive Plan | |
| | Long-Term Compensation | | | Time and Performance-Based Restricted Stock Units | |
| | Benefits | | | 401(k) Plan, Supplemental Retirement Plan Payments, payments in lieu of Supplemental Retirement Plan Payments, and Other Benefits | |
As a general matter, the Compensation Committee initially considers total compensation levels of the Peer Group prior to making compensation decisions with respect to each of the individual elements of executive compensation. The Compensation Committee does not have a formal policy of targeting pay to its named executive officer a certain percentile of the market. The description below provides discussion and analysis for each element of TrustCo’s executive compensation program for 2023, including the relevant history of those components and the compensation decisions made for 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.