S&T Bancorp Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: STBA · Form: DEF 14A · Filed: Apr 1, 2024 · CIK: 719220

S&T Bancorp Inc DEF 14A Filing Summary
FieldDetail
CompanyS&T Bancorp Inc (STBA)
Form TypeDEF 14A
Filed DateApr 1, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$25 billion, $400,000, $144.8 million, $3.74, $33.6 m
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, S&T Bancorp, Executive Compensation, Shareholder Meeting

TL;DR

<b>S&T Bancorp Inc. has filed its Definitive Proxy Statement for the period ending May 14, 2024, providing details on executive compensation and financial reporting for 2023.</b>

AI Summary

S&T BANCORP INC (STBA) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. S&T Bancorp Inc. filed a Definitive Proxy Statement (DEF 14A) on April 1, 2024. The filing covers the period ending May 14, 2024. The company's fiscal year ends on December 31. Key executive compensation data for 2023 is included, detailing equity awards and dividend payments. The filing references financial data for the years 2020 through 2023.

Why It Matters

For investors and stakeholders tracking S&T BANCORP INC, this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it outlines proposals to be voted on at the annual meeting, including director elections and executive compensation plans. Understanding the executive compensation details, such as equity awards and dividend payouts, provides insight into management's incentives and the company's performance metrics.

Risk Assessment

Risk Level: low — S&T BANCORP INC shows low risk based on this filing. The filing is a routine proxy statement, indicating no immediate or significant new risks are being disclosed beyond standard business operations.

Analyst Insight

Shareholders should review the proxy statement to understand voting matters and executive compensation before the annual meeting.

Key Numbers

  • 2023 — Reporting Year for Compensation Data (Executive compensation details are provided for this year.)
  • 2020-2023 — Financial Reporting Period (The filing references financial data across these years.)

Key Players & Entities

  • S&T BANCORP INC (company) — Filer name
  • DEF 14A (document) — Filing type
  • 2024-04-01 (date) — Filing date
  • 2024-05-14 (date) — Period of report
  • 2023-12-31 (date) — Fiscal year end
  • Todd D. Brice (person) — Director mentioned in relation to compensation data
  • David G. Antolik (person) — Director mentioned in relation to compensation data
  • Christopher J. (person) — Director mentioned in relation to compensation data

FAQ

When did S&T BANCORP INC file this DEF 14A?

S&T BANCORP INC filed this Proxy Statement (DEF 14A) with the SEC on April 1, 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 S&T BANCORP INC (STBA).

Where can I read the original DEF 14A filing from S&T 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 S&T BANCORP INC.

What are the key takeaways from S&T BANCORP INC's DEF 14A?

S&T BANCORP INC filed this DEF 14A on April 1, 2024. Key takeaways: S&T Bancorp Inc. filed a Definitive Proxy Statement (DEF 14A) on April 1, 2024.. The filing covers the period ending May 14, 2024.. The company's fiscal year ends on December 31..

Is S&T BANCORP INC a risky investment based on this filing?

Based on this DEF 14A, S&T BANCORP INC presents a relatively low-risk profile. The filing is a routine proxy statement, indicating no immediate or significant new risks are being disclosed beyond standard business operations.

What should investors do after reading S&T BANCORP INC's DEF 14A?

Shareholders should review the proxy statement to understand voting matters and executive compensation before the annual meeting. The overall sentiment from this filing is neutral.

How does S&T BANCORP INC compare to its industry peers?

S&T Bancorp Inc. operates within the commercial banking sector, a highly regulated industry focused on deposit-taking, lending, and financial services.

Are there regulatory concerns for S&T BANCORP INC?

As a commercial bank, S&T Bancorp Inc. is subject to extensive regulation by federal and state authorities, including oversight from the Federal Reserve and state banking departments.

Industry Context

S&T Bancorp Inc. operates within the commercial banking sector, a highly regulated industry focused on deposit-taking, lending, and financial services.

Regulatory Implications

As a commercial bank, S&T Bancorp Inc. is subject to extensive regulation by federal and state authorities, including oversight from the Federal Reserve and state banking departments.

What Investors Should Do

  1. Review the proposals presented in the DEF 14A for the upcoming shareholder meeting.
  2. Analyze the executive compensation details, including equity awards and dividend payouts, for insights into management incentives.
  3. Note the financial reporting periods covered to understand the historical context of the company's performance.

Key Dates

  • 2024-04-01: Filing Date — Definitive Proxy Statement (DEF 14A) filed.
  • 2024-05-14: Period of Report End Date — The proxy statement covers matters up to this date.
  • 2023-12-31: Fiscal Year End — Indicates the end of the company's financial reporting year.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard proxy statement, indicating a routine disclosure rather than a significant change from previous filings.

Filing Stats: 4,728 words · 19 min read · ~16 pages · Grade level 12.2 · Accepted 2024-04-01 10:05:50

Key Financial Figures

  • $25 billion — has experience at banks with more than $25 billion in assets. We have the people, products
  • $400,000 — volunteer hours and donating more than $400,000. Table of Contents Financial Achiev
  • $144.8 million — l year. Net income increased 6.83% to $144.8 million and EPS increased 8.09% to $3.74 per sh
  • $3.74 — 44.8 million and EPS increased 8.09% to $3.74 per share. Strong return metrics with
  • $33.6 m — 4.13%. Net interest income increased $33.6 million, or 10.65%. Total portfolio loa
  • $469.4 m — .65%. Total portfolio loans increased $469.4 million, or 6.53%. Nonperforming assets
  • $23.0 m — Nonperforming assets remained low at $23.0 million, or 0.30% of total loans plus oth
  • $13.2 m — tate owned (OREO). Net charge-offs of $13.2 million, or 0.18% of average loans. Gov
  • $2.50 — hares of common stock of S&T, par value $2.50 per share ("Common Stock"), with each s
  • $9,000 — ing, and will pay D.F. King & Co., Inc. $9,000, plus its out-of-pocket expenses, for t

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 45 PAY VERSUS PERFORMANCE 56 RELATED PERSON TRANSACTIONS 63 REPORT OF THE AUDIT COMMITTEE 66 SHAREHOLDER PROPOSALS 67 OTHER MATTERS 67 GENERAL 66 APPENDIX A A-1 Table of Contents S&T BANCORP, INC. PROXY STATEMENT FOR ANNUAL MEETING OF SHAREHOLDERS TO BE HELD MAY 14, 2024 INTRODUCTION This Proxy Statement is being furnished to shareholders of S&T Bancorp, Inc. in connection with the solicitation of proxies by the Board of Directors of S&T (the "S&T Board" or "Board") for use at the Annual Meeting of Shareholders, and any adjournments thereof, to be held at the time and place set forth in the accompanying notice ("Annual Meeting"). We are first sending the Notice of Internet Availability of Proxy Materials, or this Proxy Statement, S&T's 2023 Annual Report and proxy card to shareholders on or about April 1, 2024. At the Annual Meeting, shareholders of S&T will be asked to (i) elect 11 directors of S&T to serve a one-year term, (ii) approve the ratification of the selection of Ernst & Young LLP as S&T's independent registered public accounting firm for the fiscal year 2024, (iii) approve, on a non-binding advisory basis, the compensation of S&T's named executive officers ("NEOs"), and (iv) approve, on a non-binding advisory basis, the frequency of future votes on the compensation of S&T's named executive officers. All shareholders are urged to read this Proxy Statement carefully and in its entirety. MEETING INFORMATION Date, Time and Place The Annual Meeting will be held on May 14, 2024, at 10:00 a.m. Eastern Time solely online via the Internet by going to www.virtualshareholdermeeting.com/STBA24 . To participate in the Annual Meeting, you will need the 16-digit control number included on your Notice, on your proxy card or on the instructions that accompanied your proxy materials. See "Attending the Meeting; Virtual Meeting" below. As permitted by S&T's By-laws and applicable law, S&T will h

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