Pioneer Bancorp, Inc./MD 8-K

What Happened Pioneer Bancorp, Inc. (PBFS) announced on December 16, 2025 that it adopted the Pioneer Bancorp, Inc. Targeted Incentive Plan. The Plan lets the CEO and other executive officers named by the Compensation Committee earn annual cash incentive payments based on a balanced "scorecard" of financial, operational and non‑financial performance goals. Each performance period runs January 1 through December 31 (Plan Year), with awards paid in cash no later than March 15 following the Plan Year.

Key Details

• Plan adoption date: December 16, 2025; applies to the CEO and other executives designated by the Compensation Committee (including those named in the Company’s 2025 proxy statement).
• Payout structure: each participant has an annual incentive target set as a percentage of base salary; awards have three performance levels (threshold, target, maximum).
• Payout limits and timing: maximum payout is 150% of target; below-threshold performance yields no award; awards paid by March 15 after year-end.
• Employment and exceptions: no award if participant leaves before payment date except pro‑rated payment on death, disability or retirement; awards are subject to the Company’s clawback policy.

Why It Matters This plan formalizes how Pioneer Bancorp will compensate and retain senior executives through performance‑based cash incentives. For investors, key effects include potential increases in executive pay tied to measurable company goals and a capped upside (150% of target). The scorecard approach means future executive awards will reflect a mix of financial and non‑financial objectives set annually by the Compensation Committee.