Monitor the annual meeting outcome for any withheld votes against director nominees, which could signal governance concerns. The significant drop in CEO compensation reflects the transition from former CEO Taylor to Pribula, but the absolute pay levels remain high for a community bank. The lack of a say-on-pay vote and absence of shareholder proposals suggest no immediate activist pressure.
Price Chart
Executive Summary
SR Bancorp filed its definitive proxy statement for the 2026 annual meeting, proposing the election of three directors (David M. Orbach, Christopher J. Pribula, and Robert Mustard) and the ratification of Baker Tilly US, LLP as auditor. The filing is routine with no shareholder proposals, contested elections, or material governance changes. Executive compensation for the CEO declined significantly year-over-year, reflecting the CEO transition, but remains substantial.
Key Facts
- Annual meeting scheduled for November 18, 2026; record date September 21, 2026.
- 7,931,396 shares of common stock outstanding as of record date.
- Three director nominees: David M. Orbach (Executive Chairman), Christopher J. Pribula (President & CEO), and Robert Mustard (retired banker). All are incumbent directors.
- Board unanimously recommends FOR all nominees and FOR ratification of Baker Tilly US, LLP as auditor.
- No shareholder proposals were submitted for the meeting.
- CEO Christopher J. Pribula's total compensation for FY2026 was $897,472, down 46% from $1,654,204 in FY2025.
- Former CEO William P. Taylor's total compensation for FY2026 was $544,249, down 69% from $1,758,005 in FY2025.
- Audit fees for FY2026 were $464,500, up from $324,000 in FY2025.
- Related party transaction: Somerset Regal Bank paid $240,000 in rent for two branch facilities in which Executive Chairman David M. Orbach's spouse and siblings hold an ownership interest.
- ESOP holds 9.55% of outstanding shares; BlackRock holds 5.84%.
- No say-on-pay vote or prior year approval rate disclosed.
- No anti-hedging policy exists for directors, officers, or employees.
Financial Impact
No material financial impact from this routine proxy filing. Audit fees increased 43% to $464,500. Related-party rent payments of $240,000 are immaterial relative to the company's size.
Risk Factors
- No anti-hedging policy could allow insiders to hedge their stock exposure, potentially misaligning incentives.
- Related-party lease arrangement with Executive Chairman's family may raise governance questions.
- Audit fee increase of 43% year-over-year warrants monitoring for future trends.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001193125-26-424753 |
| Document: 0001193125-26-424753-index-headers.html | 0001193125-26-424753 |
| Document: 0001193125-26-424753-index.html | 0001193125-26-424753 |
| Document: 0001193125-26-424753.txt | 0001193125-26-424753 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $19.02 | awaiting T+60 | — | $19.01 (−0.00%) |
Oct 26, 2026 today | 8-K | $19.02 | awaiting T+60 | — | $19.01 (−0.00%) |
Oct 19, 2026 7d ago | DEF 14A | $18.58 | awaiting T+60 | — | $19.01 (+2.34%) |
Sep 17, 2026 5w ago | Press Release | $19.56 | awaiting T+60 | — | $19.01 (−2.78%) |
Apr 28, 2026 25w ago | 8-K | $19.19 $19.09 | ▼ −0.52% | ▼ −4.63% | $19.01 (−0.91%) |
Apr 24, 2026 26w ago | 8-K | $18.53 $19.10 | ▲ +3.08% | ▼ −2.00% | $19.01 (+2.62%) |
Mar 3, 2026 33w ago | Insider Cluster | $16.76 $18.64 | ▲ +11.21% | ▲ +0.89% | $19.01 (+13.45%) |
US Market Status
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