ConnectOne Bancorp Inc
For the period ended May 21, 2024. Filed Apr 11, 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 11, 2024
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Contents
Performance-Based Compensation
Pay-for-performance is a key objective of our executive compensation program. A significant portion of our compensation program focuses on performance-based pay that rewards our achievements on an annual basis as well as our ability to deliver long-term value to our stockholders. We have a balanced approach to total compensation that includes a mix of base/fixed pay and variable/performance-based pay, a proportion of cash and equity and a proportion of short- and long-term incentive compensation. For the fiscal year 2023, our compensation targets and pay mix (targeting market median) are shown below and represent our goal to provide:
| ● | A significant portion of target pay that is at-risk and based on performance (69% for CEO and 60% for other NEOs); and |
| ● | A meaningful portion of pay that is denominated as equity (39% for CEO and 23% for other NEOs). |
| ● | For 2023, 50% of our equity share grants will vest only if predetermined performance goals are achieved. For 2024, this is being increased to 55% for our top three officers. |
| CEO Target Pay Mix | Other NEOs Target Pay Mix (1) |
|---|
| (1) | Weighted Average of the Named Executive Officers other than the Chief Executive Officer. |
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The design principles of our executive compensation programs are intended to protect and promote the interests of our stockholders. Below we summarize certain practices we have implemented to drive performance and those we have not implemented because we do not believe they would serve our stockholder’s long-term interests.
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