Kearny Financial Corporation announced a significant update to its executive compensation plan on June 18, 2025. The company, through its wholly owned subsidiary Kearny Bank, reached an agreement with Craig L. Montanaro, who serves as the President and Chief Executive Officer of both entities. The amendment to the Kearny Bank Supplemental Executive Retirement Plan (SERP) stipulates that the previously frozen benefits will be unfrozen, with the potential for increases starting from July 1, 2025. Notably, Mr. Montanaro is the sole participant in this retirement plan.
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