NorthEast Community Bancorp Announces 2024 Annual Meeting of Stockholders

Ticker: NECB · Form: DEF 14A · Filed: Apr 12, 2024 · CIK: 1847398

Northeast Community Bancorp, Inc./Md/ DEF 14A Filing Summary
FieldDetail
CompanyNortheast Community Bancorp, Inc./Md/ (NECB)
Form TypeDEF 14A
Filed DateApr 12, 2024
Risk Level
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Stockholders, Director Election, Independent Auditor

TL;DR

<b>NorthEast Community Bancorp will hold its 2024 annual meeting of stockholders online on May 23, 2024, to elect directors and ratify the independent auditor.</b>

AI Summary

NorthEast Community Bancorp, Inc./MD/ (NECB) filed a Proxy Statement (DEF 14A) with the SEC on April 12, 2024. Annual meeting to be held online via live webcast on May 23, 2024, at 9:00 a.m. local time. Stockholders will vote on the election of three directors for a three-year term. The selection of S.R. Snodgrass, P.C. as the independent registered public accounting firm for fiscal year 2024 will be ratified. The meeting will allow for online participation, electronic voting, and submission of questions. Stockholders are urged to vote online, by telephone, or by mail to ensure their shares are represented.

Why It Matters

For investors and stakeholders tracking NorthEast Community Bancorp, Inc./MD/, this filing contains several important signals. The shift to a virtual-only meeting format may impact stockholder participation and engagement. The election of directors and ratification of the auditor are standard corporate governance procedures crucial for company oversight.

Risk Assessment

Risk Level: — NorthEast Community Bancorp, Inc./MD/ shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no significant new financial or operational information that would indicate elevated risk.

Analyst Insight

Stockholders should review the proxy materials carefully to understand the director nominees and the proposed ratification of the auditor before casting their votes.

Key Numbers

  • 3 — Directors to be elected (To serve for a term of three years.)
  • 2024 — Fiscal Year End (For which S.R. Snodgrass, P.C. is the independent registered public accounting firm.)
  • 9:00 — Meeting Time (Local time on May 23, 2024.)

Key Players & Entities

  • NorthEast Community Bancorp, Inc. (company) — Registrant and company holding the annual meeting.
  • Kenneth A. Martinek (person) — Chairman and Chief Executive Officer of NorthEast Community Bancorp, Inc.
  • S.R. Snodgrass, P.C. (company) — Independent registered public accounting firm.
  • May 23, 2024 (date) — Date of the annual meeting.
  • 2024 (date) — Fiscal year for which the auditor is being ratified.

FAQ

When did NorthEast Community Bancorp, Inc./MD/ file this DEF 14A?

NorthEast Community Bancorp, Inc./MD/ filed this Proxy Statement (DEF 14A) with the SEC on April 12, 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 NorthEast Community Bancorp, Inc./MD/ (NECB).

Where can I read the original DEF 14A filing from NorthEast Community Bancorp, Inc./MD/?

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 NorthEast Community Bancorp, Inc./MD/.

What are the key takeaways from NorthEast Community Bancorp, Inc./MD/'s DEF 14A?

NorthEast Community Bancorp, Inc./MD/ filed this DEF 14A on April 12, 2024. Key takeaways: Annual meeting to be held online via live webcast on May 23, 2024, at 9:00 a.m. local time.. Stockholders will vote on the election of three directors for a three-year term.. The selection of S.R. Snodgrass, P.C. as the independent registered public accounting firm for fiscal year 2024 will be ratified..

Is NorthEast Community Bancorp, Inc./MD/ a risky investment based on this filing?

Based on this DEF 14A, NorthEast Community Bancorp, Inc./MD/ presents a moderate-risk profile. The filing is a routine proxy statement for an annual meeting, with no significant new financial or operational information that would indicate elevated risk.

What should investors do after reading NorthEast Community Bancorp, Inc./MD/'s DEF 14A?

Stockholders should review the proxy materials carefully to understand the director nominees and the proposed ratification of the auditor before casting their votes. The overall sentiment from this filing is neutral.

How does NorthEast Community Bancorp, Inc./MD/ compare to its industry peers?

NorthEast Community Bancorp, Inc. operates as a savings institution, providing financial services to its customers.

Are there regulatory concerns for NorthEast Community Bancorp, Inc./MD/?

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a) concerning proxy solicitations.

Industry Context

NorthEast Community Bancorp, Inc. operates as a savings institution, providing financial services to its customers.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a) concerning proxy solicitations.

What Investors Should Do

  1. Review the list of director nominees and their qualifications.
  2. Understand the proposal to ratify S.R. Snodgrass, P.C. as the independent auditor.
  3. Follow the instructions provided to vote shares electronically or by mail.

Key Dates

  • 2024-05-23: Annual Meeting of Stockholders — To elect directors and ratify the independent auditor.

Year-Over-Year Comparison

This filing is a DEF 14A, indicating it is a definitive proxy statement for an annual meeting, which is a standard periodic filing.

Filing Stats: 4,607 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2024-04-12 16:15:39

Filing Documents

From the Filing

DEF 14A 1 tm2411605d2_def14a.htm DEF 14A SCHEDULE 14A INFORMATION 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 &sect; 240.14a-12 NORTHEAST COMMUNITY BANCORP, INC. (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): 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. April 12, 2024 Dear Stockholder: You are cordially invited to attend the annual meeting of stockholders of NorthEast Community Bancorp, Inc. (the &ldquo;Company&rdquo;). The annual meeting will be conducted solely online via live webcast on Thursday, May 23, 2024 at 9:00 a.m., local time. The notice of annual meeting and proxy statement appearing on the following pages describe the formal business to be transacted at the meeting. Directors and officers of the Company, as well as a representative of S.R. Snodgrass, P.C., the Company&rsquo;s independent registered public accounting firm, will be present to respond to appropriate questions of stockholders. It is important that your shares are represented at this meeting, whether or not you attend the meeting in person and regardless of the number of shares you own. To make sure your shares are represented, we urge you to vote online or via telephone or to complete and mail a proxy card. You can revoke a proxy at any time before its exercise at the meeting by following the instructions in the proxy Sincerely, Kenneth A. Martinek Chairman and Chief Executive Officer 325 Hamilton Avenue White Plains, New York 10601 (914) 684-2500 NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS TIME AND DATE 9:00 a.m., local time, on Thursday, May 23, 2024 PLACE The annual meeting will be conducted solely online via live webcast. You will be able to attend and participate in the annual meeting online, vote your shares electronically by entering the control number on your proxy card, and submit your questions during the meeting by visiting: https://www.cstproxy.com/necb/2024 at the date and time described in the accompanying proxy statement. There is no physical location for the annual meeting. ITEMS OF BUSINESS (1) To elect three directors to serve for a term of three years; (2) To ratify the selection of S.R. Snodgrass, P.C. as our independent registered public accounting firm for the fiscal year ending December 31, 2024; and (3) To transact such other business as may properly come before the meeting and any adjournment or postponement of the meeting. RECORD DATE To vote, you must have been a stockholder at the close of business on April 4, 2024. PROXY VOTING It is important that your shares be represented and voted at the meeting. You can vote your shares online or via telephone or by completing and returning a proxy card or voting instruction card. Voting instructions are printed on the notice of internet availability of proxy materials sent to you and are included in the accompanying proxy statement. You can revoke a proxy at any time before its exercise at the meeting by following the instructions in the proxy BY ORDER OF THE BOARD OF DIRECTORS Anne Stevenson-DeBlasi Corporate Secretary White Plains, New York April 12, 2024 Note: Whether or not you plan to attend the annual meeting, please vote online or via telephone or by marking, signing, dating and promptly returning a proxy card. NORTHEAST COMMUNITY BANCORP, INC. PROXY STATEMENT This proxy statement is furnished in connection with the solicitation of proxies by the Board of Directors of NorthEast Community Bancorp, Inc. (the &ldquo;Company&rdquo;) to be used at the annual meeting of stockholders of the Company. The Company is the holding company for NorthEast Community Bank (the &ldquo;Bank&rdquo;). The annual meeting will be held on Thursday, May 23, 2024 and will be conducted solely online via live webcast. You will be able to attend and participate in the annual meeting online, vote your shares electronically by entering the control number on your proxy card, and submit your questions during the meeting by visiting: https://www.cstproxy.com/necb/2024 at the date and time described in the accompanying proxy statement. There is no physical location for the annual meeting. This proxy statement and the Company&rsquo;s annual report to stockholders for the year ended December 31, 2023 are available online at www.cstproxy.com/necb/2024. Voting and Proxy Procedure Who Can Vote at the Meeting You are en

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