Berkshire Hills Bancorp Inc. Files Definitive Proxy Statement

Ticker: BBT · Form: DEF 14A · Filed: Apr 5, 2024 · CIK: 1108134

Berkshire Hills Bancorp INC DEF 14A Filing Summary
FieldDetail
CompanyBerkshire Hills Bancorp INC (BBT)
Form TypeDEF 14A
Filed DateApr 5, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$1.60, $2.02, $25 million, $0.58, $2.14
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Berkshire Hills Bancorp, Executive Compensation, Corporate Governance

TL;DR

<b>Berkshire Hills Bancorp Inc. has filed its Definitive Proxy Statement for the period ending May 16, 2024.</b>

AI Summary

BERKSHIRE HILLS BANCORP INC (BBT) filed a Proxy Statement (DEF 14A) with the SEC on April 5, 2024. Berkshire Hills Bancorp Inc. filed a Definitive Proxy Statement (DEF 14A) on April 5, 2024. The filing covers the period ending May 16, 2024. The company's principal executive offices are located at 60 State Street, 38th Floor, Boston, MA 02109. The filing includes information related to executive compensation, equity awards, and pension adjustments for the fiscal year ending December 31, 2023. The SIC code for Berkshire Hills Bancorp Inc. is 6036 (Savings Institutions, Not Federally Chartered).

Why It Matters

For investors and stakeholders tracking BERKSHIRE HILLS BANCORP INC, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation and corporate governance, enabling informed voting decisions at the upcoming shareholder meeting. As a DEF 14A filing, it details the company's financial performance and executive remuneration, which are key factors for investors assessing the company's management and future prospects.

Risk Assessment

Risk Level: low — BERKSHIRE HILLS BANCORP INC shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial results or significant strategic changes, indicating a stable operational and financial status.

Analyst Insight

Review the executive compensation details and any shareholder proposals within the proxy statement to understand management's incentives and potential governance changes.

Key Numbers

Key Players & Entities

FAQ

When did BERKSHIRE HILLS BANCORP INC file this DEF 14A?

BERKSHIRE HILLS BANCORP INC filed this Proxy Statement (DEF 14A) with the SEC on April 5, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by BERKSHIRE HILLS BANCORP INC (BBT).

Where can I read the original DEF 14A filing from BERKSHIRE HILLS BANCORP INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BERKSHIRE HILLS BANCORP INC.

What are the key takeaways from BERKSHIRE HILLS BANCORP INC's DEF 14A?

BERKSHIRE HILLS BANCORP INC filed this DEF 14A on April 5, 2024. Key takeaways: Berkshire Hills Bancorp Inc. filed a Definitive Proxy Statement (DEF 14A) on April 5, 2024.. The filing covers the period ending May 16, 2024.. The company's principal executive offices are located at 60 State Street, 38th Floor, Boston, MA 02109..

Is BERKSHIRE HILLS BANCORP INC a risky investment based on this filing?

Based on this DEF 14A, BERKSHIRE HILLS BANCORP INC presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial results or significant strategic changes, indicating a stable operational and financial status.

What should investors do after reading BERKSHIRE HILLS BANCORP INC's DEF 14A?

Review the executive compensation details and any shareholder proposals within the proxy statement to understand management's incentives and potential governance changes. The overall sentiment from this filing is neutral.

How does BERKSHIRE HILLS BANCORP INC compare to its industry peers?

Berkshire Hills Bancorp Inc. operates within the savings institutions sector, focusing on providing financial services.

Are there regulatory concerns for BERKSHIRE HILLS BANCORP INC?

The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

Industry Context

Berkshire Hills Bancorp Inc. operates within the savings institutions sector, focusing on providing financial services.

Regulatory Implications

The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

  1. Review the detailed executive compensation tables for named executive officers.
  2. Examine any shareholder proposals and management's recommendations.
  3. Note the dates for the shareholder meeting and voting deadlines.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement and does not represent a change from previous filings in terms of format or purpose, but provides updated information for the current reporting period.

Filing Stats: 4,313 words · 17 min read · ~14 pages · Grade level 14.6 · Accepted 2024-04-05 12:04:23

Key Financial Figures

Filing Documents

Executive Compensation 44

Executive Compensation 44 Summary Compensation and Other Tables 44 Pay Versus Performance 53 Proposal 3 - Ratification of the Appointment of the Independent Registered Public Accountant 57 Audit Committee Report 58 Additional Information 59 Stock Ownership 59 Information About Voting 61 Other Information Relating to Directors and Executive Officers 64 Submission of Business Proposals and Shareholder Nominations 65 Shareholder Communications 66 Miscellaneous 66 Other Matters 66 Appendix A A-1 Summary of and Reconciliation of Certain Non-GAAP Financial Measures A-1 1 BERKSHIRE HILLS BANCORP, INC. | 2024 Proxy Statement Berkshire Hills Bancorp, Inc. Proxy Statement Proxy Statement Summary This summary gives you an overview of selected information in this year's proxy statement. We encourage you to read the entire proxy statement carefully before voting. We have also provided you with the 2023 Summary Annual Report and the 2023 Annual Report on SEC Form 10-K. Annual Meeting of Shareholders Time and Date: 10:00 a.m. Eastern Time, Thursday, May 16, 2024 Place: Berkshire Bank, 99 North Street, Pittsfield, Massachusetts 01201 Record Date: Shareholders as of the close of business on March 21, 2024 are entitled to vote We are providing this proxy statement to you in connection with the solicitation of proxies for the 2024 Annual Meeting of Shareholders and to transact any other business that may properly come before the meeting. In this proxy statement, we also refer to Berkshire Hills Bancorp, Inc. as "Berkshire" or the "Company". We also refer to its subsidiary, Berkshire Bank, as the "Bank". We are mailing a notice of the Annual Meeting and this proxy statement to shareholders of record as of March 21, 2024, beginning on or about April 5, 2024. Summary of Proposals for 2024 1 - Election of Directors . The Company's Board of Directors is presenting eleven (11) nominees for election as directors at our Annual Meeting. Two o

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