Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
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.
| 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. Gordon 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 Officer | ||||||||
| 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.
| 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. Gordon Prescott | 2,124,666 | — | — | — |
| Brett Brbovic | 1,947,395 | 592,653 | 436,184 | +1,354,742 |
| 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.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Paul Perrault | RSU | 17,921 | — | $472,577 |
| Carl Carlson | RSU | 7,879 | — | 207,769 |
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 stockholder value. The program is designed to be competitive with the market median for similarly-sized banks, rewarding strong and prudent corporate performance while emphasizing the retention of qualified executives who influence long-term growth.
| 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 |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-13 | 35,782,771 | 23,800,639 | 297,386 | 60.05% | Passed |
| 2025 | 2025-05-21 | 35,579,920 | 883,027 | 102,959 | 97.58% | Passed |
| 2024 | 2024-05-16 | 33,247,339 | 1,315,857 | 139,228 | 96.19% | Passed |
| 2023 | 2023-05-18 | 35,870,276 | 635,899 | 185,898 | 98.26% | Passed |
| 2022 | 2022-05-20 | 37,827,919 | 906,537 | 163,922 | 97.66% | Passed |
| 2021 | 2021-05-20 | 38,875,775 | 1,153,193 | 189,965 | 97.12% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-13 | 60.05%a |
| 2025 | 2025-05-21 | 97.58%b |
| 2024 | 2024-05-16 | 96.19%c |
a. Voting standard not stated in the filing.
b. Approved under the standard stated in the filing — “Therefore, abstentions and broker non-votes will have no impact on the outcome of these proposals Solicitation of Proxies.”.
c. Approved under the standard stated in the filing — “Therefore, abstentions and broker non-votes will have no impact on the outcome of these proposals Solicitation of Proxies.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David M. BrunelleIndependent · Board Chair · Compensation Committee · Corporate Governance and Nominating Committee | $218,000 | $0 | — | — | $1,938 | $219,938 |
| Sylvia MaxfieldIndependent · Audit Committee (Chair) · Risk Committee | 170,000 | 0 | — | — | 1,938 | 171,938 |
| Nina A. CharnleyIndependent · Audit Committee | 151,000 | 0 | — | — | 1,938 | 152,938 |
| Eric S. RosengrenIndependent · Compensation Committee · Risk Committee (Chair) | 149,000 | 0 | — | — | 1,938 | 150,938 |
| Mary Anne CallahanIndependent · Audit Committee | 142,000 | 0 | — | — | 1,938 | 143,938 |
| Karyn PolitoIndependent · Compensation Committee · Corporate Governance and Nominating Committee | 134,000 | 0 | — | — | 1,938 | 135,938 |
| Mihir A. DesaiIndependent · Risk Committee | 131,000 | 0 | — | — | 1,938 | 132,938 |
| William H. Hughes IIIIndependent · Corporate Governance and Nominating Committee | 131,000 | 0 | — | — | 1,938 | 132,938 |
| Thomas J. HollisterIndependent · Audit Committee · Corporate Governance and Nominating Committee (Chair) · Newly elected | 97,500 | 0 | — | — | 0 | 97,500 |
| Bogdan NowakIndependent · Compensation Committee (Chair) · Corporate Governance and Nominating Committee · Newly elected | 84,167 | 0 | — | — | 0 | 84,167 |
| Margaret Boles FitzgeraldIndependent · Risk Committee · Newly elected | 84,167 | 0 | — | — | 0 | 84,167 |
| Willard I. Hill JrIndependent · Audit · Compensation · Newly elected | 80,000 | 0 | — | — | 0 | 80,000 |
| Joanne B. ChangIndependent · Audit Committee · Corporate Governance and Nominating Committee · Newly elected | 80,000 | 0 | — | — | 0 | 80,000 |
| Merrill W. ShermanIndependent · Risk Committee · Newly elected | 80,000 | 0 | — | — | 0 | 80,000 |
| John M. PereiraIndependent · Compensation Committee · Risk Committee · Newly elected | 80,000 | 0 | — | — | 0 | 80,000 |
| Paul A. PerraultEmployee director · Newly elected | — | — | — | — | — | 0 |
| 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 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,811,834 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $15,504 |
| Total cost of the board | $1,827,338 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Beacon Financial names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Beacon Financial.
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 | Eastern Bankshares, Inc. | 2025 | Denis Sheahan | $800,000 | $3,371,297 | — | $792,000 | $5,069,867 |
| 2 | ConnectOne Bancorp, Inc. | 2025 | Frank Sorrentino III | 992,000 | 1,674,001 | 0 | 1,272,240 | 4,399,936 |
| 3 | Dime Community Bancshares | 2025 | Stuart Lubow | 1,043,164 | 1,163,271 | 0 | — | 3,467,632 |
| 4 | NBT Bancorp, Inc. | 2025 | Scott A. Kingsley | 820,192 | 663,375 | 0 | 670,292 | 2,990,037 |
| 5 | Flushing Financial Corporation | 2024 | John Buran | 1,160,500 | 395,035 | 0 | 687,342 | 2,433,701 |
| 6 | First Commonwealth Financial Corporation | 2025 | T. Michael Price | 700,000 | 515,746 | 0 | 745,063 | 2,000,604 |
| 7 | Beacon Financial | 2025 | Paul Perrault | 333,333 | 452,684 | 0 | 242,500 | 1,284,440 |
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.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Beacon Financial | not disclosed | RSU 100 | not disclosed | Meridian Compensation Partners, LLC |
| ConnectOne Bancorp, Inc. | 135% | PSU 55 · RSU 45 | No | Meridian Compensation Partners, LLC |
| Dime Community Bancshares | 117.9% | PSU 60 · RSU 40 | No | Pay Governance |
| Eastern Bankshares, Inc. | 110% | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (TSR) vs. KRX Banks | Pearl Meyer |
| First Commonwealth Financial Corporation | 163.75% | PSU 50 · RSU 50 | Yes — TSR Relative to Peers | Meridian Compensation Partners LLC |
| Flushing Financial Corporation | not disclosed | PRSU 50 · RSU 50 | not disclosed | Pearl Meyer |
| NBT Bancorp, Inc. | 108.33% | PSU 50 · RSU 50 | Yes — Relative 3-year TSR | Meridian Compensation Partners, LLC |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Nitin Mhatre | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 8,542,850. Filing ↗machine: span 697926–697935 |
| 2 | Section 01, James Brown | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 3,066,495. Filing ↗machine: span 717265–717274 |
| 3 | Section 01, Sean Gray | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 2,819,369. Filing ↗machine: span 678891–678900 |
| 4 | Section 01, Jacqueline Courtwright | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 2,222,199. Filing ↗machine: span 688613–688622 |
| 5 | Section 01, Gregory Lindenmuth | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 2,147,014. Filing ↗machine: span 726638–726647 |
| 6 | Section 01, Wm. Gordon Prescott | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 2,124,666. Filing ↗machine: span 693107–693116 |
| 7 | Section 01, Brett Brbovic | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 1,947,395. Filing ↗machine: span 707317–707326 |
| 8 | Section 01, Paul Perrault | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 1,284,440. Filing ↗machine: span 669887–669896 |
| 9 | Section 01, Carl Carlson | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Named Executive Officer Compensation” · page 48. As printed: 568,271. Filing ↗machine: span 674388–674395 |
| 10 | Section 08, David M. Brunelle | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 219,938. Filing ↗machine: span 395279–395546 |
| 11 | Section 08, Sylvia Maxfield | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 171,938. Filing ↗machine: span 415174–415412 |
| 12 | Section 08, Nina A. Charnley | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 152,938. Filing ↗machine: span 401944–402182 |
| 13 | Section 08, Eric S. Rosengren | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 150,938. Filing ↗machine: span 423975–424213 |
| 14 | Section 08, Mary Anne Callahan | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 143,938. Filing ↗machine: span 397541–397779 |
| 15 | Section 08, Karyn Polito | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 135,938. Filing ↗machine: span 421772–422010 |
| 16 | Section 08, Mihir A. Desai | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 132,938. Filing ↗machine: span 404144–404382 |
| 17 | Section 08, William H. Hughes III | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 132,938. Filing ↗machine: span 412973–413211 |
| 18 | Section 08, Thomas J. Hollister | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 97,500. Filing ↗machine: span 409218–409455 |
| 19 | Section 08, Bogdan Nowak | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 84,167. Filing ↗machine: span 415824–416061 |
| 20 | Section 08, Margaret Boles Fitzgerald | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 84,167. Filing ↗machine: span 404807–405044 |
| 21 | Section 08, Willard I. Hill Jr | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 407013–407250 |
| 22 | Section 08, Joanne B. Chang | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 398194–398431 |
| 23 | Section 08, Merrill W. Sherman | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 424689–424955 |
| 24 | Section 08, John M. Pereira | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 80,000. Filing ↗machine: span 418025–418262 |
| 25 | Section 08, Paul A. Perrault | DEF 14A | 2026-04-02 | 0001628280-26-022949 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 26 | Section 06, 2026 vote | Form 8-K | 2026-05-15 | 0001104659-26-062720 | Item 5.07 · say-on-pay result. As reported: 60.05% (votes for as printed: 35,782,771). Filing ↗ |
| 27 | Section 06, 2025 vote | Form 8-K | 2025-05-22 | 0000943374-25-000227 | Item 5.07 · say-on-pay result. As reported: 97.58% (votes for as printed: 35,579,920). Filing ↗ |
| 28 | Section 06, 2024 vote | Form 8-K | 2024-05-17 | 0000943374-24-000183 | Item 5.07 · say-on-pay result. As reported: 96.19% (votes for as printed: 33,247,339). Filing ↗ |
| 29 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 30 | Section 09b board cost (computed) | Computed | — | computed | Cash 1,811,834 + equity 0 + all other 15,504 = 1,827,338, summed across the director compensation table rows.machine: formula: Σ = 1,827,338 |
| 31 | Eastern Bankshares, Inc., Section 10b CEO total | DEF 14A | 2026-03-26 | 0001193125-26-126283 | CEO total compensation as printed in Eastern Bankshares, Inc.'s own proxy. As printed: 5,069,867. Filing ↗machine: span 693146–693155 |
| 32 | ConnectOne Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001437749-26-011892 | CEO total compensation as printed in ConnectOne Bancorp, Inc.'s own proxy. As printed: 4,399,936. Filing ↗ |
| 33 | Dime Community Bancshares, Section 10b CEO total | DEF 14A | 2026-04-13 | 0001104659-26-042646 | CEO total compensation as printed in Dime Community Bancshares's own proxy. As printed: 3,467,632. Filing ↗machine: t198 · r8 · c9 · span 1068574–1068584 |
| 34 | NBT Bancorp, Inc., Section 10b CEO total | DEF 14A | 2026-04-06 | 0001140361-26-013237 | CEO total compensation as printed in NBT Bancorp, Inc.'s own proxy. As printed: 2,990,037. Filing ↗machine: r2 · c22 · span 862129–862138 |
| 35 | Flushing Financial Corporation, Section 10b CEO total | DEF 14A | 2025-04-17 | 0001193125-25-083786 | CEO total compensation as printed in Flushing Financial Corporation's own proxy. As printed: 2,433,701. Filing ↗machine: r3 · c34 · span 460495–460504 |
| 36 | First Commonwealth Financial Corporation, Section 10b CEO total | DEF 14A | 2026-03-19 | 0001193125-26-115933 | CEO total compensation as printed in First Commonwealth Financial Corporation's own proxy. As printed: 2,000,604. Filing ↗machine: r4 · c34 · span 658732–658741 |
| 37 | Beacon Financial (subject), Section 10b CEO total | DEF 14A | 2026-04-02 | 0001628280-26-022949 | CEO total compensation as printed in Beacon Financial's own proxy. As printed: 1,284,440. Filing ↗machine: span 669887–669896 |
| 38 | Section 10a, NBT Bancorp, Inc. reciprocity | DEF 14A | — | 0001140361-26-013237 | NBT Bancorp, Inc.'s most recent proxy was read; its disclosed peer group does not include Beacon Financial. Filing ↗ |
| 39 | Section 10a, Eastern Bankshares, Inc. reciprocity | DEF 14A | — | 0001193125-26-126283 | Eastern Bankshares, Inc.'s most recent proxy was read; its disclosed peer group does not include Beacon Financial. Filing ↗ |
| 40 | Section 10a, Flushing Financial Corporation reciprocity | DEF 14A | — | 0001193125-25-083786 | Flushing Financial Corporation names Beacon Financial in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 41 | Section 10a, First Commonwealth Financial Corporation reciprocity | DEF 14A | — | 0001193125-26-115933 | First Commonwealth Financial Corporation's most recent proxy was read; its disclosed peer group does not include Beacon Financial. Filing ↗ |
| 42 | Section 10a, Dime Community Bancshares reciprocity | DEF 14A | — | 0001104659-26-042646 | Dime Community Bancshares's most recent proxy was read; its disclosed peer group does not include Beacon Financial. Filing ↗ |