Kearny Bank ESOP Trust Amends Holdings in Kearny Financial Corp.

TL;DR

**Kearny Bank's employee trust just updated its significant stake in Kearny Financial, showing strong internal ownership.**

AI Summary

The Kearny Bank Employee Stock Ownership Plan Trust, based in New Jersey, has updated its holdings in Kearny Financial Corp. as of December 31, 2023. This Amendment 8 to their Schedule 13G filing shows the Trust now beneficially owns 2,257,850 shares with sole voting power and 2,513,844 shares with shared voting power. This matters to investors because it indicates a significant internal ownership stake, which can align employee interests with shareholder value.

Why It Matters

High insider ownership, like that of an ESOP, can signal confidence in the company's future and align employee incentives with long-term stock performance. This filing updates the public on the extent of that alignment.

Risk Assessment

Risk Level: low — This filing indicates a stable, internal ownership structure, which generally reduces risk by aligning employee and shareholder interests.

Analyst Insight

An investor might view this as a positive signal, suggesting strong internal alignment and a potential for stable, long-term growth, and could consider Kearny Financial Corp. for a long-term holding in their portfolio.

Key Numbers

• 2,257,850 — Shares with Sole Voting Power (Represents shares the Kearny Bank ESOP Trust can vote independently.)
• 2,513,844 — Shares with Shared Voting Power (Represents shares the Kearny Bank ESOP Trust shares voting control over.)
• December 31, 2023 — Date of Event (The date as of which the ownership information was reported.)

Key Players & Entities

• Kearny Financial Corp. (company) — the issuer of the common stock
• Kearny Bank Employee Stock Ownership Plan Trust (company) — the reporting person and beneficial owner of shares
• New Jersey (place) — place of organization for the reporting person
• $0.01 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• The significant employee ownership through the ESOP will likely foster long-term employee engagement and commitment to Kearny Financial Corp.'s success. (Kearny Financial Corp.) — high confidence, target: 2025-12-31

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• sc13g-a_2023.htm (SC 13G/A) — 36KB
• 0000943374-24-000047.txt ( ) — 38KB

From the Filing

SC 13G/A 1 sc13g-a_2023.htm KEARNY FINANCIAL CORP. SCHEDULE 13G (AMENDMENT 8) DECEMBER 31, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment 8) * Kearny Financial Corp. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 48716P108 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of This Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 Pages CUSIP NO. 48716P 108 13G Page 2 of 5 Pages 1 Names of Reporting Persons Kearny Bank Employee Stock Ownership Plan Trust 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3 SEC Use Only 4 Citizenship or Place of Organization New Jersey Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 2,257,850 6 Shared Voting Power 2,513,844 7 Sole Dispositive Power 4,633,030 8 Shared Dispositive Power 138,664 9 Aggregate Amount Beneficially Owned by Each Reporting Person 4,771,694 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11 Percent of Class Represented by Amount in Row 9 7.4% of 64,445,270 shares of Common Stock outstanding as of December 31, 2023. 12 Type of Reporting Person (See Instructions) EP CUSIP NO. 48716P 108 13G Page 3 of 5 Pages Item 1 (a) Name of Issuer Kearny Financial Corp. (b) Address of Issuer's Principal Executive Offices 120 Passaic Avenue Fairfield, New Jersey 07004 Item 2 (a) Name of Person Filing Kearny Bank Employee Stock Ownership Plan Trust Trustee: Pentegra Trust Company (b) Address of Principal Business Office c/o Pentegra Services, Inc. 2 Enterprise Drive, Suite 408 Shelton, Connecticut 06484 (c) Citizenship or Place of Organization See Page 2, Item 4. (d) Title of Class of Securities Common Stock, par value $0.01 per share (e) CUSIP Number See Page 1. Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b, or (c), check whether the person filing is a: (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). CUSIP NO. 48716P 108 13G Page 4 of 5 Pages Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: See Page 2, Item 9. (b) Percent of class: See Page 2, Item 11. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: See Page 2, Item 5. (ii) Shared power to vote or to direct the vote: See Page 2, Item 6. (iii) Sole power to dispose or to direct the disposition of: See Page 2, Item 7. (iv) Shared power to dispose or to direct the disposition of: See Page 2, Item 8. Item 5. Not applicable Item 6. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person Not applicable Item 8. Identification and Classification of Members of the Group The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974. Item 9. Notice of Dissolution of Group Not applicable Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. CUSIP NO. 48716P 108 13G Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. KEARNY BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST Date: February 2, 2024 By: Pentegra Trust Company, Trustee By: /s/ Paula Edmonds Name: Paula Edmonds Title: Vice Pr

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