Gregg Adams
About Gregg Adams
Gregg T. Adams (age 65) is President of the Marketing & Sales Division at BankFinancial, NA, a role he has held since 2015; he joined the Bank in 1986 and previously served as EVP (2001–2015) and SVP (2000–2001) of the Marketing & Sales Division . His remit includes deposit pricing/retention, treasury/transaction services, trust/wealth operations, and product development; in 2024, trust and treasury services revenues increased, and cost of funds was actively managed amid deposit mix shifts, with insured deposits at 84% of total as of year-end . BFIN’s recent stock performance shows 1-year TSR of 28.3% and 3-year TSR of 34.4% (to 12/31/2024), providing helpful context for incentive outcomes . For 2025, Adams’ base salary is $284,855 (up 2.0% from 2024); he received $27,000 discretionary bonus and $2,255 plan payout for 2024, with total 2024 compensation of $326,913 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BankFinancial, NA | President, Marketing & Sales Division | 2015–Present | Leads deposit pricing/retention, trust/wealth, treasury services, product deployment and small-business marketing initiatives |
| BankFinancial, NA | Executive Vice President, Marketing & Sales Division | 2001–2015 | — |
| BankFinancial, NA | Senior Vice President, Marketing & Sales Division | 2000–2001 | — |
| BankFinancial, NA / Financial Properties, Inc. | Various, incl. VP of Marketing Development | Since 1986 | — |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Financial Assurance Services, Inc. | Director | — | Director at affiliate entity |
Fixed Compensation
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Base Salary ($) | 270,321 | 277,435 | 284,855 |
| Discretionary Cash Bonus ($) | 33,771 | 27,000 | — (not disclosed) |
| Non-Equity Incentive Plan ($) | 2,229 | 2,255 | — (not disclosed) |
| All Other Compensation ($) | 20,695 | 20,223 | — (not disclosed) |
| Total Compensation ($) | 327,016 | 326,913 | — (not disclosed) |
2024 All Other Compensation (detail):
- Perquisites $6,600; Insurance $2,582; Tax reimbursement $1,128; 401(k) match $7,765; Other $2,148; Total $20,223 .
- Company does not provide pension benefits; no equity compensation was granted or outstanding for NEOs during the period .
Performance Compensation
| Metric (Adams) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Deposit portfolio composition & cost of funds | Not disclosed | Not disclosed | Managed cost of funds; insured deposits 84% of total as of 12/31/2024 | Part of $27,000 discretionary bonus | Cash (no vesting) |
| Trust Department revenues | Not disclosed | Not disclosed | Increased in 2024 | Included in $2,255 plan payout | Cash (no vesting) |
| Treasury Services revenues | Not disclosed | Not disclosed | Increased in 2024 | Included in $2,255 plan payout | Cash (no vesting) |
| Product development & marketing | Not disclosed | Not disclosed | Overdraft program deployment; expanded SMB marketing | Part of $27,000 discretionary bonus | Cash (no vesting) |
| Leadership & planning | Not disclosed | Not disclosed | Oversight across risk/compliance/IT coordination and branch efficiency | Part of $27,000 discretionary bonus | Cash (no vesting) |
Additional incentive design notes:
- Adams is eligible under the Treasury Services Department Incentive Compensation Plan for 10% of the overall plan bonus pool (not a % of salary) .
- Executive compensation clawbacks: NASDAQ clawback for restatements and an additional 3-year performance-based incentive clawback policy .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 97,994 shares (includes 75,494 shares in the BankFinancial & Subsidiaries Associate Investment Plan) |
| Ownership as % of shares outstanding | <1% (12,460,678 shares outstanding as of 5/16/2025) |
| Vested vs. unvested shares | Not disclosed |
| Stock options/RSUs/PSUs | None disclosed; company has no securities authorized for issuance under any equity compensation plan; no equity comp outstanding for NEOs in period |
| Shares pledged as collateral | Prohibited by Insider Trading Policy (no margin or pledging of BFIN stock permitted) |
| Hedging | Prohibited without prior written consent of the Corporate Governance & Nominating Committee |
| Ownership guidelines | Not disclosed |
Employment Terms
| Scenario | Cash | Continued Benefits | Key Terms |
|---|---|---|---|
| Death | 319,662 | 10,384 | Earned salary; prorated average incentive; base salary through remaining employment term; reduced by disability/Social Security benefits |
| Disability | 319,662 | 10,384 | As above; disability insurance provides 60% of base salary; premiums reimbursed on after-tax basis |
| Termination without cause | 319,662 | 10,384 | Prorated average incentive; base salary through end of employment period; continued health benefits |
| Resignation (other than Good Reason) | — | — | Earned salary and vacation only |
| Termination for Good Reason | 319,662 | 10,384 | Same as without cause; “Good Reason” includes relocation, pay/benefit reduction, uncured breach, or post-CIC material diminution; double-trigger construct |
| Change of Control (double-trigger) | 459,296 | 10,384 | Double trigger required; payments may be reduced to avoid 280G excess parachute |
Other contractual terms:
- Non-solicitation: For the greater of 12 months or the severance period; general release required for severance .
- Employment agreement date: Amended and restated agreement with Mr. Adams on January 27, 2023 .
Company Performance Context
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Shareholder Return (Value of initial $100) | 130 | 132 | 170 |
| EPS ($) | 0.80 | 0.74 | 0.33 |
| One-year TSR (as reported elsewhere) | — | — | 28.3% (1-year), 34.4% (3-year) |
Revenues (for tenure context; company-level)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 5,530,000* | 4,417,000* | 5,682,000* |
Values retrieved from S&P Global.
Compensation Committee and Governance Notes
- Human Resources Committee (Comp Committee) members: Cassandra J. Francis (Chair), Aaron J. O’Connor, and Benjamin Mackovak; all are independent per NASDAQ standards .
- Compensation consultant: Frederic W. Cook & Co.; independence reviewed with no conflicts identified .
- Insider Trading Policy: prohibits hedging (without consent), margin purchases, and pledging of company stock .
- Say-on-Pay: Over 82% approval at 2024 annual meeting .
- Related party transactions: None outstanding with executives or directors as of 12/31/2024 .
- Section 16 compliance: No late filings reported for 2024 .
Investment Implications
- Alignment: No equity incentive program (no RSUs/PSUs/options) limits automatic vesting overhang and reduces forced insider selling pressure; alignment is via meaningful personal share ownership (~98k shares) and prohibitions on pledging/hedging .
- Incentive design: Adams’ pay is primarily cash with a discretionary component tied to controllable operating levers (deposit mix/cost, treasury/trust growth, product rollout). The absence of defined weightings/targets at his level reduces transparency versus CEO/CFO matrices but is paired with enterprise-wide clawbacks .
- Retention risk: Employment terms provide moderate protection (salary through remaining term or ≥18 months; CIC double-trigger with ~$459k cash), which is reasonable for a division president and not overly dilutive; non-solicit provisions support franchise protection .
- Performance context: Despite 2024 EPS pressure (0.33), TSR was strong over 1 and 3 years, and Adams’ area showed trust/treasury revenue growth and disciplined funding costs—supporting pay outcomes that were largely modest and discretionary .
- Governance: Strong say-on-pay support, independent comp committee, and prohibition on pledging/hedging reduce governance red flags; absence of equity plan curtails dilution and option repricing risks .