Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) Effective December 4, 2024, the Registrant’s Board of Directors increased the size of the Board by one, and elected Michael J. Widmer, age 64, to serve as a director of the Registrant in the class whose term expires in 2027. He will also serve as a director of the Registrant’s wholly-owned subsidiary, BCB Community Bank (the “Bank”). Mr. Widmer has been a banking consultant since 2020. From 2002 until 2020, he served as Executive Vice President, Operations with Northfield Bank, headquartered in Woodbridge, New Jersey. Prior to his tenure at Northfield Bank, Mr. Widmer served as the Executive Vice President and Chief Financial Officer, and as a Director, of Liberty Bancorp, Inc. and Liberty Bank, located in Avenel, New Jersey, until they were acquired by Northfield Bancorp, Inc. and Northfield Bank, respectively, in 2002.
The Board committees on which Mr. Widmer will serve have not yet been determined. He will be compensated for his service as a director on the same basis as the other non-employee directors of the Registrant, including board fees and the eligibility to receive stock-based awards and other compensation paid to the Registrant’s directors.
A copy of the press release (the “Press Release”) announcing Mr. Widmer’s election is provided as Exhibit 99.1 hereto.
There have been no transactions since January 1, 2023, or any currently proposed transactions, in which the Registrant or the Bank was or is to be a participant and in which Mr. Widmer has or had a direct or indirect material interest which would be required to be reported under Item 404(a) of Regulation S-K (“Item 404(a)”), except that Mr. Widmer did provide certain consulting services to the Bank disclosed in the Press Release. For such services, he was paid $221,580 during the year ended December 31, 2023, and $74,900 during the year ending December 31, 2024.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
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