Northfield Bancorp Discloses $12.36M in Executive & Director Merger-Related Compensation
NFBK sits 43% above its 52-week low of $9.905.
Summary
Northfield Bancorp, Inc. disclosed approximately $12.36 million in merger-related compensation for its executives and non-employee directors, including a $5.74 million lump sum for the CEO, in an amended 10-K filing related to its pending acquisition by Columbia Financial, Inc.
Key Events · M&A and Partnerships · NFBK
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Merger-Related Executive Severance
Five executive officers, including CEO Steven Klein, will receive lump sum payments totaling approximately $11.07 million upon the closing of the merger with Columbia Financial, Inc. CEO Klein's payment alone is $5.74 million, and he will be subject to a two-year non-compete.
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New Executive Equity Awards
Four executive officers (excluding the CEO) were granted new cash-settled restricted stock units totaling $791,250 in connection with the merger, vesting over three years.
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New Director Equity Awards
Non-employee directors were granted new cash-settled restricted stock units totaling $480,000 ($60,000 each for 8 directors) in connection with the merger, with a one-year cliff vesting schedule.
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2025 Executive Compensation Details
The filing provided details on 2025 executive compensation, including base salary increases (3.5-8.5%) and cash incentive awards based on various performance goals. The CEO's total annual compensation for 2025 was $2,059,591, approximately 26 times that of the median employee.
Analysis · NFBK · Finance
Northfield Bancorp, Inc. filed an amended 10-K to provide detailed executive and director compensation information, which was omitted from its original 10-K due to a pending acquisition by Columbia Financial, Inc. The most significant disclosure is approximately $12.36 million in lump sum payments and new equity awards for executives and non-employee directors, directly tied to the upcoming merger. This includes a $5.74 million lump sum for the CEO, Steven Klein, who will also be subject to a two-year non-compete. While these payments represent a substantial cost to the company, they are common in M&A transactions to ensure executive retention and a smooth transition. The filing also detailed 2025 executive compensation, noting that performance-based equity awards from 2023-2025 did not vest due to the company's Core Return on Average Assets falling below the threshold.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, NFBK was trading at $14.14 on NASDAQ in the Finance sector, with a market capitalization of approximately $590.5M. The 52-week trading range was $9.91 to $14.15. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.