Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
WOODBRIDGE, NJ – Northfield Bancorp, Inc. (NASDAQ:NFBK), a federally chartered savings institution with a market capitalization of $501 million and currently trading at $11.69, disclosed in a recent SEC filing that its board of directors approved new equity awards for company directors and employees under its 2019 Equity Incentive Plan. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
On Monday, January 24, 2025, the Compensation Committee of Northfield Bancorp’s board granted a total of 238,008 restricted shares and 59,735 performance-based, restricted stock units. The awarded shares are part of a long-term incentive plan to align the interests of directors and employees with those of shareholders, who currently enjoy a 4.38% dividend yield from the company’s 18-year streak of consistent dividend payments.
The time-based restricted shares for employees will vest over three years, with the first installment vesting one year from the grant date. For executive officers, the performance-based, restricted stock units will vest contingent upon achieving a specified goal over a three-year period, with potential adjustments based on the level of performance achieved relative to set targets.
Directors will see their time-based awards vest fully on or after January 24, 2026. The specific terms of these awards, including the performance metrics and vesting conditions, align with the company’s strategic objectives and governance practices.
The filing made on Tuesday, January 28, 2025, also stated that the forms of the award agreements had been previously filed with the SEC, providing transparency about the incentive structures for Northfield Bancorp’s leadership and staff. For deeper insights into NFBK’s financial health and additional analysis, InvestingPro subscribers have access to over 30 additional financial metrics and exclusive ProTips.
This move is part of Northfield Bancorp’s broader strategy to incentivize and retain key personnel. The equity grants are designed to foster a vested interest in the company’s success and are a common practice in corporate compensation packages. The information is based on a press release statement filed with the SEC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.