Federal Home Loan Bank of Boston: election of four directors

What happened

• The filing says the board declared four individuals elected in the Bank’s 2026 election of directors, with a term to begin Jan 1, 2027 and end Dec 31, 2030. The board declared the following elected: Christopher J. Logan (president and chief executive officer, Bank of New Hampshire, Laconia, New Hampshire) and Caroline R. Carpenter (president and chief executive officer, National Bank of Middlebury, Middlebury, Vermont) as member directors; Duncan Barnard (chief internal auditor, CLS Bank, New York, New York) and Robert Tourigny (executive director, NeighborWorks Southern New Hampshire, Manchester, New Hampshire) as independent directors, with Mr. Tourigny elected as a public interest independent director. The filing also says the board approved the Director Compensation Policy - 2027 on Oct 23, 2026.

Key details

• The elections were conducted online and the board declared the results final on Oct 23, 2026.
• Director terms run Jan 1, 2027 through Dec 31, 2030.
• The 2027 Director Compensation Policy sets per board meeting attendance fees (for example, $13,680 per board meeting for the chair and $9,710 per board meeting for other directors) and quarterly retainers (for example, $13,750 per quarter for the chair, annualized to $55,000; $10,250 per quarter for other directors, annualized to $41,000).
• The policy sets total maximum annual compensation by role (for example, $165,000 total maximum for the chair and $123,000 total maximum for other directors) and allows reduction or elimination of a director’s final quarterly retainer if the director attended less than 75% of meetings or the board determines lack of engagement. Directors may participate in the Bank’s nonqualified, unfunded deferred compensation plan.

Why it may matter

• Item 5.02 of the filing reports director elections and the board-approved 2027 director compensation policy; Item 5.07 reports the submission of matters to a vote (the online election results); Item 9.01 attaches the director compensation policy as an exhibit. The filing does not show why the insider traded or why the company acted.