Brookline Bancorp grants retention bonus to chief credit officer tied to merger

Brookline Bancorp, Inc. (NASDAQ:BRKL) disclosed Tuesday that it has entered into a retention bonus agreement with Mark J. Meiklejohn, the company’s Chief Credit Officer. The agreement is connected to the pending merger of equals between Brookline Bancorp and Berkshire Hills Bancorp, Inc.

According to a statement in the SEC filing, Mr. Meiklejohn will be eligible to receive a cash retention bonus totaling $720,750, contingent upon the closing of the merger. The bonus will be paid in three equal installments, with each portion becoming payable on the first, second, and third anniversaries of the merger’s closing, provided Mr. Meiklejohn remains employed through each respective date.

The agreement specifies that if Mr. Meiklejohn’s employment is terminated by the company (or, after the merger, by Berkshire) without cause, or if he resigns for good reason as defined in the agreement, any unpaid portion of the retention bonus will be accelerated and paid within 60 days of termination. The total retention bonus amount would be reduced by the value of any cash severance payments the executive is eligible to receive in connection with such termination.

The retention bonus agreement was filed as an exhibit to Brookline Bancorp’s Form 8-K, which was submitted to the Securities and Exchange Commission. Brookline Bancorp’s common stock is listed on the Nasdaq Global Select Market under the symbol BRKL.

All information is based on a press release statement included in the SEC filing.

In other recent news, Brookline Bancorp reported its second-quarter earnings for 2025. The company announced earnings per share (EPS) of $0.25, which met market expectations. Brookline Bancorp’s revenue came in at $94.65 million, slightly below the anticipated $94.9 million. These earnings results are part of the recent developments for the company. While the revenue was marginally under the forecast, the EPS aligned with analysts’ predictions. There were no reports of mergers or acquisitions involving the company at this time. Additionally, there have been no recent analyst upgrades or downgrades reported for Brookline Bancorp. Investors may want to keep an eye on any further updates from the company.

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