In 2023, Patrick S. Barrett earned $800.45K in total compensation at OceanFirst Financial, including $450.00K salary and $285.12K bonus. Most recently acquired 46,110 shares in Feb 2024. Currently holds stock worth $3.63M. 3+ years at the helm of OceanFirst Financial.
Compensation History
Annual executive compensation data for Patrick S. Barrett, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$800.45K
Salary
$450.00K
Bonus
$285.12K
Other
$65.33K
Salary
$450.00KBoard Justification
The compensation program is designed to attract, retain, and motivate executives while aligning their interests with those of stockholders through performance-based incentives.
Bonus
$285.12KBoard Justification
The bonus is based on the performance metrics of Core Earnings, Core Efficiency Ratio, Net Deposit Growth, Internal Controls, and ESG, with a maximum individual performance modifier of 150%.
Other Compensation
$65.33KBoard Justification
Other compensation includes contributions to the Employee Stock Ownership Plan, life insurance premiums, and other benefits.
Restricted Stock
Board Justification
No stock awards vested in 2023 as Mr. Barrett's awards are scheduled to vest in future years.
Performance Metrics
Core Earnings, Core Efficiency Ratio, Net Deposit Growth, Internal Controls, and ESG.
Patrick S. Barrett
CEO of OceanFirst Financial
Education
Bachelor's degree in Finance
Field of Expertise
Finance & Banking - Finance
Sector of Economy
Financial Services
Born
January 1, 1977 - 48 years ago
CEO of OceanFirst Financial for
3 years 6 months (Jun 2022 - Present)
Previous Experience
Executive Vice President and Chief Financial Officer of First Midwest Bancorp, Inc.
Other OceanFirst Financial CEOs
Holdings
Track Patrick S. Barrett's stock holdings and portfolio value over time.
Insider Trading
Patrick S. Barrett's recent stock transactions, purchases, and sales filed with the SEC.
46,110 shares
OCFC
Feb 28, 2024
Received
$19.11K
OCFC at $19.11/share
May 4, 2023
Purchase
$15.86K
OCFC at $15.86/share
Apr 25, 2023
Purchase
$23.18K
OCFC at $23.18/share
Apr 25, 2023
Received
31,620 shares
OCFC
Feb 28, 2023
Received
$198.56K
OCFC at $18.91/share
Jun 24, 2022
Purchase
30,000 shares
FULT
Dec 2, 2013
Received
Rivals
Compare Patrick S. Barrett with competitor CEOs and industry peers.
Kevin S. Kim
CEO of Hope Bancorp
2023 Compensation
Stock
$700.98K
Salary
$1.05M
Bonus
$1.05K
Other
$60.71K
Total Holdings
$1.27M
Mark K. Hardwick
CEO of First Merchants Corporation
2023 Compensation
Stock
$611.04K
Salary
$728.00K
Bonus
$369.81K
Other
$78.87K
Total Holdings
$128.45K
Anthony Labozzetta
CEO of Provident Financial Services
2023 Compensation
Stock
$61.82K
Salary
$818.27K
Bonus
$309.38K
Other
$121.55K
Total Holdings
$20.11K
H. Palmer Proctor, Jr.
CEO of Ameris Bancorp
2023 Compensation
Stock
$1.90M
Salary
$925.00K
Bonus
$1.44M
Other
$98.20K
Total Holdings
$1.46M
Jeffrey M. Schweitzer
CEO of Univest Financial Corporation
2022 Compensation
Stock
$0.00
Salary
$806.00K
Bonus
$250.57K
Other
$26.25K
Total Holdings
$127.87K