Bar Harbor Bankshares Files Proxy Statement Supplement

TL;DR

BHB proxy supplement filed. Shareholders vote soon.

AI Summary

Bar Harbor Bankshares filed a DEFA14A, which is a definitive proxy statement supplement. This filing provides additional materials related to the company's proxy statement, likely concerning upcoming shareholder votes or proposals. The filing was made on April 22, 2024, and pertains to the company's fiscal year ending December 31st.

Why It Matters

This filing informs shareholders about important matters to be voted on, influencing corporate governance and potentially the company's strategic direction.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEFA14A) for a proxy statement, not indicating any immediate financial distress or significant operational changes.

Key Players & Entities

• BAR HARBOR BANKSHARES (company) — Registrant
• 0001104659-24-049975 (filing_id) — Accession Number
• 20240422 (date) — Filing Date
• 82 MAIN ST (address) — Business Address
• PO BOX 400 (address) — Business Address
• BAR HARBOR (location) — City
• ME (location) — State
• 04609-0400 (zip_code) — Business Zip Code
• 2076696784 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $730,274 — nditions are achieved, are: Mr. Simard, $730,274; Ms. Iannelli, $275,377; Ms. Colombo, $
• $275,377 — re: Mr. Simard, $730,274; Ms. Iannelli, $275,377; Ms. Colombo, $177,942; Mr. Mercier, $1
• $177,942 — 4; Ms. Iannelli, $275,377; Ms. Colombo, $177,942; Mr. Mercier, $177,942; and Mr. Edgar,
• $172,197 — ; Mr. Mercier, $177,942; and Mr. Edgar, $172,197 3. “All Other Compensation&rdq
• $50,000 — rm insurance in excess of the allowable $50,000, non-taxable IRS limit, paid for by the
• $100 — 2021, 2022, and 2023. VALUE OF INITIAL $100 FIXED INVESTMENT BASED ON: YEAR (a)

Filing Documents

• tm2412055d1_defa14a.htm (DEFA14A) — 95KB
• 0001104659-24-049975.txt ( ) — 96KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 BAR HARBOR BANKSHARES (Name of Registrant as Specified In Its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Explanatory Note This supplement (this “Supplement”) to the Bar Harbor Bankshares (the “Company”) definitive proxy statement (the “Proxy Statement”) filed with the U.S. Securities and Exchange Commission on April 1, 2024 for use at the 2024 Annual Meeting of Shareholders (the “Annual Meeting”) is being filed to correct certain inadvertent errors. On page 43 of the Proxy Statement, within the “Compensation Discussion and Analysis—Summary Compensation Table” section, the 2023 base salary received amounts reported for Josephine Iannelli, John M. Mercier, Marion Colombo, and Jason Edgar (the non-principal executive officer named executive officers of the Company (the “non-PEO NEOs”)) were incorrectly reported on such table (the “Summary Compensation Table”). On pages 47 and 48 of the Proxy Statement, within the “Pay Versus Performance” section, the 2023 amounts reported for the average summary compensation table total for the non-PEO NEOs and average compensation actually paid to non-PEO NEOs were also incorrectly reported on such tables (the “Pay Versus Performance Tables”). Set forth below are the corrected disclosures found within the “Compensation Discussion and Analysis—Summary Compensation Table” and “Pay Versus Performance” sections of the Proxy Statement. The only figures adjusted in the tables below are (i) the 2023 base salary received amounts for the non-PEO NEOs in the Summary Compensation Table and (ii) the 2023 amounts for the average summary compensation table total for non-PEO NEOs and average compensation actually paid to non-PEO NEOs in the Pay Versus Performance Tables. Summary Compensation Table The following table discloses compensation for the years ended December 31, 2023, 2022 and 2021 received by the NEOs. NAME AND PRINCIPAL POSITION YEAR BASE SALARY RECEIVED 1 STOCK AWARDS 2 NON-EQUITY INCENTIVE PLAN COMPENSATION ALL OTHER COMPENSATION 3 TOTAL Curtis C. Simard 2023 $ 716,000 $ 558,445 $ 524,416 $ 40,279 $ 1,839,140 President & CEO 2022 694,900 541,994 521,175 51,563 1,809,632 2021 674,700 438,555 506,025 42,251 1,661,531 Josephine Iannelli 2023 459,000 220,302 244,497 30,674 954,473 EVP, CFO and Treasurer 2022 445,600 213,846 233,940 28,948 922,334 2021 432,600 173,040 227,115 14,224 846,979 John M. Mercier 2023 339,000 142,353 180,576 36,125 698,054 EVP, Chief Lending Officer 2022 328,900 138,120 148,005 31,034 646,059 2021 319,300 111,755 143,685 31,149 605,889 Marion Colombo 2023 339,000 142,353 158,004 31,763 671,120 EVP, Director of Retail Delivery 2022 328,900 138,120 148,005 26,461 641,486 2021 319,300 111,755 143,685 25,334 600,074 Jason Edgar 2023 328,000 137,757 152,877 25,581 644,215 President, Wealth 2022 318,300 133,675 143,235 22,451 617,661 2021 309,000 108,150 139,050 24,440 580,640 1. Included in salary amounts for each NEO are monies they deferred pursuant to our 401(k) Plan, which allows our employees and employees of our wholly owned subsidiaries to defer monies from their compensation, subject to applicable limitations in Code Section 401(k), and amounts deferred pursuant to our Section 125 Cafeteria Plan providing health, life, and disability insurance benefits. Employees, including NEOs, are paid on a bi-weekly basis. 2. The amounts reported in this column represent performance awards granted to the NEOs under the Long-Term Incentive Plans. See Note 14 Stock Based Compensation Plans to our financial statements included in our Annual Report Form 10-K filed for the year ending December 31, 2023 for the assumptions made, if any, when calculating the amounts in this column. In accordance with SEC rules, the aggregate grant date fair value of the awards reported in this column are computed in accordance with FASB ASC Topic 718 and take into accou

View Full Filing

View this DEFA14A filing on SEC EDGAR