Northfield Bancorp, Inc. 8-K
Research Summary
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Northfield Bancorp Approves 172,272 RSU Grants and 2026 Cash Incentive Plan
What Happened
Northfield Bancorp, Inc. announced on February 4, 2026 that its Compensation Committee approved — and the Board ratified — grants of a total of 172,272 restricted stock units (RSUs) to directors and employees under the company’s 2019 Equity Incentive Plan. The Board also approved the company's 2026 Management Cash Incentive Plan. The forms of the RSU award agreements and the cash incentive plan are attached as Exhibits 10.1–10.3 to the 8-K.
Key Details
- Grant date: February 4, 2026; total RSUs granted: 172,272.
- Employee time‑based awards: vest in equal installments over a three‑year period, commencing one year after grant (from Feb 4, 2027).
- Director awards: vest fully on or after February 4, 2027.
- The Board approved the 2026 Management Cash Incentive Plan on February 4, 2026 (Exhibit 10.1); RSU agreement forms are Exhibits 10.2 and 10.3.
Why It Matters
These actions set management and director compensation for 2026 and create future obligations: the RSU awards and the cash incentive plan can lead to cash payments or share-based compensation when they vest or are paid, which affects future compensation expense and cash flow. The filing is routine corporate governance disclosure, but relevant to investors monitoring potential dilution (if equity-settled) or cash payouts (if cash-settled) tied to management incentives.