WATERSTONE FINANCIAL, INC. (NASDAQ:WSBF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e)On March 25, 2019, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Waterstone Financial, Inc. (the “Company”) adopted the Waterstone Financial, Inc. Incentive Plan (the “Incentive Plan”), which is intended to be used primarily as the vehicle to provide for annual incentive awards to the Company’s senior management. Under the Incentive Plan designated employees of the Company and its subsidiaries, including our executive officers, will be eligible to receive incentive payments with respect to a specified period (for example, our fiscal year), which awards will generally be payable based upon the attainment of pre-established performance goals. Incentive award opportunities and performance goals in respect of the Company’s fiscal year (or such other performance period) will be established on the terms and conditions determined by the Compensation Committee. The awards earned under the Incentive Plan may be paid in cash or in the form of equity awards to be granted under an equity incentive plan maintained by the Company. The Incentive Plan may be amended or terminated by the Compensation Committee.
The foregoing summary description of the Incentive Plan does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Incentive Plan, which is filed as Exhibit10.1 hereto and incorporated by reference herein.
Item 9.01Financial Statements and Exhibits
10.1Waterstone Financial, Inc. Incentive Plan
Waterstone Financial, Inc. Exhibit
EX-99.1 2 exhibit991.htm Exhibit 10.1 WATERSTONE FINANCIAL,…
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About WATERSTONE FINANCIAL, INC. (NASDAQ:WSBF)
Waterstone Financial, Inc. is the holding company of WaterStone Bank SSB (WaterStone Bank). WaterStone Bank is a community bank. The Company operates in two segments: community banking and mortgage banking. The community banking segment provides consumer and business banking products and services. Its consumer products include loan products, deposit products, and personal investment services. Its business banking products include loans for working capital, inventory and general corporate use, commercial real estate construction loans, and deposit accounts. The mortgage banking segment, which is conducted through Waterstone Mortgage Corporation, consists of originating residential mortgage loans primarily for sale in the secondary market. As of December 31, 2015, WaterStone Bank conducted its community banking business from 11 banking offices located in Milwaukee, Washington and Waukesha Counties, Wisconsin, as well as a loan production office in Minneapolis, Minnesota.