In 2023, Jeffrey J. Tengel earned $2.92M in total compensation at Independent Bank Corp, including $903.85K salary and $268.68K in stock. 2+ years at the helm of Independent Bank Corp.
Compensation History
Annual executive compensation data for Jeffrey J. Tengel, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$2.92M
Salary
$903.85K
Bonus
$0.00
Other
$1.75M
Salary
$903.85KBoard Justification
The Company’s compensation program reflects a mix of fixed and at risk compensation, designed to fairly reward executive officers and align their interests with shareholders. Each element of the Company’s compensation program provides named executive officers with a pay opportunity that is externally competitive and recognizes individual contributions.
Bonus
$0.00Board Justification
N/A
Other Compensation
$1.75MBoard Justification
Includes one-time cash signing bonus ($1,620,000) and other compensation ($132,767).
Restricted Stock
Board Justification
This stock award vests evenly over the five-year period beginning February 6, 2023. Of these remaining unvested shares, 25% vested on February 6, 2025 and the balance will vest evenly on each of February 6, 2026, 2027 and 2028.
Performance Metrics
The Company Performance Adjustment Factor based upon the Company’s 2024 Operating Earnings per Share results within ranges set forth in the Scorecard which specify threshold, target, and maximum performance levels.
Jeffrey J. Tengel
CEO of Independent Bank Corp
Education
Bachelor of Science in Accounting from Marquette University, MBA from Weatherhead School of Management at Case Western Reserve University
Field of Expertise
Finance & Banking - Banking
Sector of Economy
Financial Services
Born
January 1, 1963 - 62 years ago
CEO of Independent Bank Corp for
2 years 10 months (Feb 2023 - Present)
Previous Experience
Senior Executive Vice President, Head of Commercial Specialty Banking at M&T Bank
Other Independent Bank Corp CEOs
Holdings
Track Jeffrey J. Tengel's stock holdings and portfolio value over time.
Insider Trading
Jeffrey J. Tengel's recent stock transactions, purchases, and sales filed with the SEC.
No insider trades found for this CEO.
Rivals
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