Joseph Perry
About Joseph J. Perry
Joseph J. Perry, age 58, is an independent director of Dime Community Bancshares, Inc. (DCOM) and has served on the DCOM board since 2021; he previously served as a director of Legacy Dime since 2005 . He is a partner at CBIZ, Inc., serving as National Tax Leader, and formerly led Tax & Business at Marcum LLP and served on its Executive Committee; prior roles include tax partner at a “Big 5” accounting firm with extensive financial services client work, and membership in the AICPA and NYSSCPA . Perry is designated an “Audit Committee Financial Expert” by the DCOM board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dime Community Bancshares, Inc. | Director | 2021–present | Audit Committee member; Audit Committee Financial Expert |
| Legacy Dime | Director | 2005–2021 | Board experience pre-merger |
| CBIZ, Inc. | Partner; National Tax Leader | Current | National tax leadership; financial services expertise |
| Marcum LLP | Tax & Business Leader; Executive Committee | Since 2006 (prior role) | Firm leadership; tax strategy |
| “Big 5” Accounting Firm | Tax Partner | Prior role | Financial services coverage in NY metro |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CBIZ, Inc. | Partner; National Tax Leader | Current | Public accounting firm; executive leadership |
| American Institute of Certified Public Accountants (AICPA) | Member | Current | Professional standards & education |
| New York State Society of Public Accountants (NYSSCPA) | Member | Current | State-level professional association |
Board Governance
- Committee assignments: Audit Committee (members: Kevin Stein—Chair; Albert E. McCoy, Jr.; Joseph J. Perry) .
- Chair roles: None disclosed for Perry; Audit Committee Chair is Kevin Stein .
- Independence: Board determined all directors except CEO Stuart H. Lubow are independent; Perry is independent .
- Attendance/engagement: Board met 10 times in 2024; Audit Committee met 4 times in 2024; all directors attended the May 23, 2024 annual meeting .
- Audit oversight: Audit Committee recommended inclusion of 2024 audited financials in the 10-K and selected Crowe LLP for 2025 .
- Shareholder voting signal (2025): Perry received 32,243,232 “For” votes; 893,993 “Withheld”; broker non-votes 5,328,084 .
Fixed Compensation
- Structure: Non-employee directors receive an annual retainer of $130,000 (55% cash, 45% stock); committee chair retainers are $25,000 for Audit/Compensation/Enterprise Risk and $15,000 for Corporate Governance; no meeting fees .
- Program design: Director compensation set at 50th–75th percentile of peers (2021 review); program reviewed annually and largely unchanged since 2021 .
| Director (2024) | Fees Earned (Cash) | Stock Awards (Grant-Date Fair Value) | Total |
|---|---|---|---|
| Joseph J. Perry | $85,250 | $69,750 | $155,000 |
| Equity Grant Detail (2024) | Shares | Grant Date | Notes |
|---|---|---|---|
| Restricted Stock (RS) | 2,656 | Jan 1, 2024 | Value computed under FASB ASC 718 |
- DSPP participation: Perry elected to receive cash retainers in stock via the Directors’ Stock Purchase Program in 2024 (aligns incentives) .
Performance Compensation
- Directors do not have performance-based incentive metrics; equity grants are time-vested restricted stock that vest one year after grant (standard for DCOM directors) .
- Options: None disclosed for directors in 2024 .
| Component | Metric | Vesting/Terms |
|---|---|---|
| RS equity (Directors) | Time-vested RS grant | Vests one year after grant; paid as part of 45% equity mix |
Other Directorships & Interlocks
- No other public company directorships for Perry are disclosed in the proxy; biography lists executive leadership roles at CBIZ and prior Marcum LLP leadership .
Expertise & Qualifications
- More than 30 years of tax and accounting experience in financial services; leadership roles at CBIZ and Marcum LLP .
- Designated “Audit Committee Financial Expert,” enhancing audit quality and financial reporting oversight .
Equity Ownership
- Beneficial ownership (Common): 56,258 shares; includes 2,203 time-vested restricted stock awards with voting power; percent of outstanding: less than 1% .
- Preferred stock: 3,000 shares; percent of outstanding: less than 1% .
- Pledging/hedging: Company policy prohibits pledging and hedging of Company stock by directors/officers ; Insider Trading Policy prohibits pledging and states all trading must comply with securities laws .
- Ownership guidelines: Directors must hold at least 5x annual cash retainer; as of Dec 31, 2024 all directors/NEOs were compliant or within the 5-year phase-in window .
| Security | Shares Beneficially Owned | Percent of Outstanding | Notes |
|---|---|---|---|
| Common Stock | 56,258 | <1% | Includes 2,203 time-vested RS with voting power |
| Preferred Stock (Series A) | 3,000 | <1% | Sole voting/investment power unless otherwise noted |
Governance Assessment
- Board effectiveness: Perry’s Audit Committee role and “Financial Expert” designation strengthen financial oversight; Audit met 4 times in 2024 and executed core responsibilities (auditor selection, independence oversight, internal audit review) .
- Independence & alignment: Independent director; participates in DSPP, converting cash into stock, and adheres to anti-pledging/anti-hedging policies; stock ownership guidelines require 5x annual cash retainer, with Board reporting compliance .
- Engagement signal: Strong shareholder support in 2025 director election (32.24M For vs. 0.89M Withheld) supports investor confidence in board composition .
- Related-party exposure: Company disclosed two residential mortgages to directors and one CRE loan to an entity controlled by a director under ordinary-course, market terms with standard employee discount program; names not specified—no specific reference to Perry; Corporate Governance Committee reviews and approves related-party transactions .
- RED FLAGS: No pledging/hedging allowed (reduces risk of misalignment) ; director loans exist at the company level but on ordinary-course terms and not linked to Perry by name .
- Say-on-Pay context: 2025 advisory vote on NEO compensation passed (25,344,352 For; 7,625,329 Against; 167,544 Abstain), indicating constructive shareholder stance toward compensation governance .