Monitor the annual meeting outcome on May 13 for say-on-pay vote results. A negative vote could signal shareholder discontent but is unlikely to have a material stock impact given the advisory nature of the vote and the small dollar amounts involved.
Price Chart
Executive Summary
Beacon Financial Corp filed definitive additional proxy materials to defend its say-on-pay proposal (Proposal 3) ahead of the May 13, 2026 annual meeting, responding to a proxy advisory firm's 'against' recommendation. Management argues that retention payments to two executives totaling ~$2.8M are retention incentives, not single-trigger change-in-control severance, and corrects prior footnotes. The outcome of the vote is uncertain, but the filing is routine and unlikely to materially affect the stock.
Key Financial Metrics
Key Facts
- Annual meeting date: May 13, 2026
- Proposal 3: Advisory vote on executive compensation (say-on-pay)
- Proxy advisory firm recommended 'against' due to characterization of retention agreements as single-trigger change-in-control severance
- Management argues payments are retention incentives tied to continued service post-merger with Brookline Bancorp
- Retention agreement amounts: Jacqueline Courtwright $1,446,000, Wm. Gordon Prescott $1,365,000
- Footnotes 7 and 8 of the Summary Compensation Table are corrected to reflect retention payments, not change-in-control payments
Financial Impact
Aggregate retention payments of approximately $2.8 million, immaterial relative to $2.4B market cap
Risk Factors
- Shareholders may follow the proxy advisory firm's recommendation and vote against say-on-pay, though impact is likely limited
- No material financial or operational risks identified
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001104659-26-054494 |
| Document: 0001104659-26-054494-index-headers.html | 0001104659-26-054494 |
| Document: 0001104659-26-054494-index.html | 0001104659-26-054494 |
| Document: 0001104659-26-054494.txt | 0001104659-26-054494 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Insider Cluster | $30.86 $30.71 | ▼ −0.49% | ▼ −1.05% | $30.71 (−0.49%) |
Oct 26, 2026 1d ago | Insider Cluster | $30.86 $30.71 | ▼ −0.49% | ▼ −1.05% | $30.71 (−0.49%) |
Oct 23, 2026 4d ago | SC 13G/A | $30.86 $30.71 | ▲ +0.49% | ▲ +1.05% | $30.71 (+0.49%) |
Oct 21, 2026 6d ago | 8-K | $29.95 $30.07 | ▲ +0.40% | ▲ +0.92% | $30.71 (+2.54%) |
Oct 21, 2026 6d ago | Press Release | $29.95 $30.07 | ▼ −0.40% | ▼ −0.92% | $30.71 (−2.54%) |
Sep 30, 2026 27d ago | Press Release | $27.99 | awaiting T+1 | — | $30.71 (+9.72%) |
Sep 29, 2026 28d ago | 8-K | $27.99 $28.10 | ▲ +0.39% | ▲ +0.21% | $30.71 (+9.72%) |
Sep 21, 2026 5w ago | 8-K | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.71 (+6.82%) |
Sep 21, 2026 5w ago | Press Release | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.71 (+6.82%) |
Aug 17, 2026 10w ago | 424B5 | $32.61 $32.50 | ▼ −0.34% | ▲ +0.34% | $30.71 (−5.83%) |
US Market Status
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