Kearny Financial Corp. Files DEF 14A on Executive Compensation

TL;DR

Kearny Financial Corp. DEF 14A out: Executive pay details for FY24 are in. Check it.

AI Summary

Kearny Financial Corp. filed its DEF 14A on September 6, 2024, detailing executive compensation and stock awards for the fiscal year ending June 30, 2024. The filing includes information on equity awards granted to PEO and Non-PEO NEO members, as well as the fair value of these awards at the fiscal year-end. Specific dollar amounts and grant details are provided within the document.

Why It Matters

This filing provides shareholders with crucial information regarding how executive compensation is structured and awarded, impacting corporate governance and investor confidence.

Risk Assessment

Risk Level: low — This is a routine annual filing (DEF 14A) providing information on executive compensation and is not indicative of immediate financial risk.

Key Players & Entities

• Kearny Financial Corp. (company) — Filer of the DEF 14A
• 0001617242-24-000076.txt (document) — Accession number for the filing
• 20240906 (date) — Filing date
• 20240630 (date) — Fiscal year end date

FAQ

Key Financial Figures

• $7.7 billion — ank. Kearny Financial had approximately $7.7 billion in total assets at June 30, 2024, and c
• $0.01 — earny Financial common stock, par value $0.01 per share, at the close of business on
• $7,500 — and we have agreed to pay them a fee of $7,500 plus reasonable expenses for their serv

Filing Documents

• krny-20240904.htm (DEF 14A) — 998KB
• krny-20240904_g1.jpg (GRAPHIC) — 50KB
• krny-20240904_g2.jpg (GRAPHIC) — 90KB
• krny-20240904_g3.jpg (GRAPHIC) — 92KB
• krny-20240904_g4.jpg (GRAPHIC) — 92KB
• krny-20240904_g5.jpg (GRAPHIC) — 242KB
• krny-20240904_g6.jpg (GRAPHIC) — 363KB
• 0001617242-24-000076.txt ( ) — 4059KB
• krny-20240904.xsd (EX-101.SCH) — 5KB
• krny-20240904_def.xml (EX-101.DEF) — 5KB
• krny-20240904_lab.xml (EX-101.LAB) — 113KB
• krny-20240904_pre.xml (EX-101.PRE) — 58KB
• krny-20240904_htm.xml (XML) — 170KB

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management Page 7 Proposal I – Election of Directors Page 9 Corporate Governance Matters Page 20 Compensation Discussion and Analysis ("CD&A") Page 26 Compensation Committee Report Page 37

Executive Compensation

Executive Compensation Page 38 CEO Pay Ratio Page 50 Pay versus Performance Page 51 Director Compensation Page 54 Proposal II – Ratification of Appointment of Independent Auditor Page 56 Proposal III – Advisory Vote on Executive Compensation Page 58 Stockholder Communications to the Board and Stockholder Proposals Page 59 KEARNY FINANCIAL CORP. PROXY STATEMENT FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS To Be Held on October 17, 2024 GENERAL INFORMATION This Proxy Statement is being furnished to the stockholders of Kearny Financial Corp. (the "Company" or "Kearny Financial") in connection with the solicitation by the Board of Directors of proxies for use at the 2024 Annual Meeting of Stockholders, to be held on Thursday, October 17, 2024 at 10:00 a.m., Eastern Time (the "Annual Meeting"). This Proxy Statement and the proxy card are first being made available to stockholders on or about September 6, 2024. The Annual Meeting Date, Time and Place The Annual Meeting will be held on Thursday, October 17, 2024 at 10:00 a.m., Eastern Time, and will be a virtual meeting format only. You can virtually attend the live webcast of the Annual Meeting at https://meetnow.global/MFT6DK5 . Record Date August 19, 2024 Shares Entitled to Vote 64,579,683 shares of Kearny Financial common stock were outstanding on the Record Date and are entitled to vote at the Annual Meeting. Purpose of the Annual Meeting To consider and vote on: 1) the election of four directors; 2) the ratification of Crowe LLP ("Crowe") as our independent registered public accounting firm for the year ending June 30, 2025; and 3) the approval of a resolution to approve our executive compensation as described in this Proxy Statement. Vote Required Directors are elected by a plurality of votes cast, without regard to either broker non-votes or proxies as to which authority to vote for the nominees being proposed is withheld. The vote to approve the advisory, non-binding resolut

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management The following table sets forth information, as of August 19, 2024, regarding certain beneficial owners of shares of Kearny Financial common stock, including information regarding persons and entities known to Kearny Financial to be the beneficial owner of more than 5% of Kearny Financial's issued and outstanding common stock and information regarding each director, named executive officer and all directors and executive officers of Kearny Financial as a group. In computing the number of shares of common stock beneficially owned by a person and the percentage ownership of that person, we deemed shares of each class of common stock subject to options held by that person that were exercisable on or within 60 days of August 19, 2024 to be outstanding. We did not deem these shares outstanding, however, for the purpose of computing the percentage ownership of any other person. Name of Beneficial Owner Shares Beneficially Owned Percent of All Common Stock Outstanding (1) 5% Owners (including address): Black Rock, Inc. 50 Hudson Yards New York, NY 10001 7,143,251 (2) 11.06% T. Rowe Price Investment Management, Inc. 101 E. Pratt Street Baltimore, MD 21201 6,452,596 (3) 9.99% The Vanguard Group 100 Vanguard Blvd. Malvern, PA 19355 5,656,240 (4) 8.76% Kearny Bank ESOP Trust c/o Pentegra Services, Inc. 2 Enterprise Dr., Suite 408 Shelton, CT 06484 4,771,694 (5) 7.39% Dimensional Fund Advisors LP 6300 Bee Cave Road Building One Austin, TX 78746 4,533,261 (6) 7.02% Renaissance Technologies Holding Corporation 800 Third Avenue New York, NY 10022 3,286,513 (4) 5.09% ___________________________________________________________________________________________________________________ KEARNY FINANCIAL CORP. – 2024 Proxy Statement 7 Directors and Nominees: Theodore J. Aanensen 246,677 (7) * Raymond E. Chandonnet 155,848 (8) * Curtland E. Fields 21,900 * John N. Hopkins 615,5

View Full Filing

View this DEF 14A filing on SEC EDGAR