Companies Beacon Financial
Beacon Financial (BHLB): executive pay, fiscal 2025
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Beacon Financial's highest-paid named officer for fiscal year 2025, Former Chief Executive Officer, Berkshire Nitin Mhatre, was paid $8,542,850 · source
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Nitin Mhatre | $567,800 | $0 | $0 | $0 | $0 | $0 | $7,975,050 | $8,542,850 |
| Former Chief Executive Officer, Berkshire | ||||||||
| James Brown | 319,600 | 0 | 0 | 0 | 0 | 0 | 2,746,895 | 3,066,495 |
| Former Head of Commercial, Berkshire | ||||||||
| Sean Gray | 595,680 | 100,000 | 0 | 0 | 469,635 | 0 | 1,654,054 | 2,819,369 |
| Chief Operations Officer | ||||||||
| Jacqueline Courtwright | 340,933 | 30,000 | 0 | 0 | 204,560 | 0 | 1,646,706 | 2,222,199 |
| Chief Human Resources Officer | ||||||||
| Gregory Lindenmuth | 241,638 | 10,000 | 0 | 0 | 0 | 0 | 1,895,376 | 2,147,014 |
| Former Chief Risk Officer, Berkshire | ||||||||
| Wm Prescott | 320,667 | 60,000 | 0 | 0 | 192,400 | 0 | 1,551,599 | 2,124,666 |
| General Counsel | ||||||||
| Brett Brbovic | 221,000 | 40,000 | 0 | 0 | 0 | 0 | 1,686,395 | 1,947,395 |
| Former Chief Financial Officer, Berkshire | ||||||||
| Paul Perrault | 333,333 | 0 | 452,684 | 0 | 242,500 | 0 | 255,923 | 1,284,440 |
| President and Chief Executive | ||||||||
| Carl Carlson | 199,000 | 0 | 199,024 | 0 | 115,850 | 0 | 54,397 | 568,271 |
| Chief Financial and Strategy Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Nitin Mhatre | $8,542,850 | $2,662,950 | $2,633,381 | ↑ +5,879,900 |
| James Brown | 3,066,495 | 1,176,173 | 841,669 | ↑ +1,890,322 |
| Sean Gray | 2,819,369 | 1,790,972 | 1,595,463 | ↑ +1,028,397 |
| Jacqueline Courtwright | 2,222,199 | — | — | — |
| Gregory Lindenmuth | 2,147,014 | 723,914 | 680,959 | ↑ +1,423,100 |
| Wm Prescott | 2,124,666 | — | — | — |
| Brett Brbovic | 1,947,395 | — | 436,184 | — |
| Paul Perrault | 1,284,440 | — | — | — |
| Carl Carlson | 568,271 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's compensation philosophy is grounded in a pay-for-performance approach that balances short-term and long-term incentives to align executive interests with stockholders, emphasizing competitive market positioning, sustainable performance, and the retention of qualified talent.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Carl Carlson | RSU | 7,879 | — | $207,769 |
| Paul Perrault | RSU | 17,921 | — | 472,577 |
Director compensation
No director compensation table is on file for fiscal year 2025.
Board fee structure and ownership guideline
| Annual cash retainer | $45,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 13,000 / 6,000 / 6,000 |
| Stock ownership guideline | $225,000 |
Peer group, and who names Beacon Financial as a peer
Companies that benchmark against BHLB
23 companies name BHLB as a compensation peer
- CAMDEN NATIONAL CORPCACFY2025
- CATHAY GENERAL BANCORPCATYFY2025
- Columbia Financial, Inc./MD/CLBKFY2024
- Dime Commercial Bancshares, Inc. /NY/DCOMFY2025
- EAGLE BANCORP INCEGBNFY2025
- FIRST BANCORP /PR/FBPFY2025
- FLUSHING FINANCIAL CORPFFICFY2024
- INDEPENDENT BANK CORPIEBFY2025
- INDEPENDENT BANK CORPINDBFY2025
- NBT BANCORP INCNBTBFY2025
- OCEANFIRST FINANCIAL CORPOCFCFY2025
- PEAPACK GLADSTONE FINANCIAL CORPPGCFY2025
- PEAPACK GLADSTONE FINANCIAL CORPPGFFY2025
- Stellar Bancorp, Inc.CBTXFY2024
- Stellar Bancorp, Inc.STELFY2024
- Stellar Bancorp, Inc.STLFY2024
- Stellar Bancorp, Inc.STLRFY2024
- Stock Yards Bancorp, Inc.SYBTFY2025
- TOMPKINS FINANCIAL CORPTMPFY2025
- TRICO BANCSHARES /TCBKFY2025
- UNIVEST FINANCIAL CorpUVSPFY2025
- WASHINGTON TRUST BANCORP INCWASHFY2025
- WSFS FINANCIAL CORPWSFSFY2025
Each company listed discloses BHLB in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named BHLB in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Beacon Financial | 2025 | Nitin Mhatre | $567,800 | $0 | $0 | $0 | $8,542,850 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 44 : 1 |
|---|---|
| CEO total compensation | $2,633,381 |
| Median employee compensation | $59,792 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (12 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Nitin Mhatre. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 8,542,850. View filing ↗
- Section 01, James Brown. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 3,066,495. View filing ↗
- Section 01, Sean Gray. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 2,819,369. View filing ↗
- Section 01, Jacqueline Courtwright. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 2,222,199. View filing ↗
- Section 01, Gregory Lindenmuth. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 2,147,014. View filing ↗
- Section 01, Wm Prescott. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 2,124,666. View filing ↗
- Section 01, Brett Brbovic. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 1,947,395. View filing ↗
- Section 01, Paul Perrault. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 1,284,440. View filing ↗
- Section 01, Carl Carlson. DEF 14A, filed 2026-04-02. Section “Named Executive Officer Compensation” · page 48. As printed: 568,271. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2024-04-05. Section “CEO Pay Ratio”. As printed: 44 : 1. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Beacon Financial (subject), Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Beacon Financial's own proxy. As printed: 8,542,850. View filing ↗