Sabrina C. Robison
About Sabrina C. Robison
Sabrina C. Robison is Executive Vice President and Chief Human Resources Officer (CHRO) of Heritage Bank, serving in the role since 2018; she has been with the Bank since 1987 and previously served as Senior Vice President and Human Resources Director beginning in 2002. She is age 56 and serves as an executive sponsor of the Company’s Diversity Council alongside the CEO, supporting DEI training and initiatives across the enterprise . Company performance during her recent tenure included diluted EPS of $1.24 and net income of $43.3 million in 2024, with five-year pay-versus-performance data showing Company TSR of $105.05 in 2024 versus $87.68 in 2023 and $119.90 in 2022, contextualizing compensation alignment with outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Heritage Bank | Executive Vice President, Chief Human Resources Officer | 2018–present | Executive sponsor of Diversity Council; drives inclusive leadership, hiring-process bias mitigation, and enterprise DEI training programs |
| Heritage Bank | Senior Vice President, Human Resources Director | 2002–2018 | Led HR operations and talent programs; supported due diligence/integration in transactions (e.g., Puget Sound Bank) |
| Heritage Bank | Various roles | 1987–2002 | Progressive HR leadership contributing to workforce development |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No external directorships or public company board roles disclosed for Robison |
Equity Ownership & Alignment
| Metric | Details |
|---|---|
| Initial Section 16 filing | Form 3 filed May 2016 listing 18,760 common shares (direct) and 11,365 common shares via 401(k) (indirect) |
| Reporting authorization | Power of Attorney authorizing filings of Forms 3/4/5 (May 2016) |
| Hedging/Pledging | Company insider trading policy prohibits hedging and cautions against pledging; Company states no pledging by NEOs or directors (Robison is not listed among NEOs) |
Note: No recent Forms 4 for Robison were found; current beneficial ownership and any changes after 2016 are not disclosed in available filings .
Employment Terms
- Clawback policy: Enhanced clawback adopted in 2023 per SEC and Nasdaq rules (attached to 2024/2025 10-Ks), enabling recovery of performance-based cash and equity compensation upon restatement .
- Insider trading: Prohibits hedging; cautions on pledging; Company states no pledging activity among directors/NEOs .
- Non-compete/non-solicit (executive agreements framework): For NEOs, typical non-compete 12 months post-termination (12 months if CIC; 24 months for non-solicit, reducing to 12 months if CIC) with double-trigger vesting under the 2023 Omnibus Equity Plan; these illustrate Company practice for senior executives though Robison’s specific agreement is not disclosed .
Performance & Track Record
Company pay-versus-performance and financial outcomes over Robison’s recent tenure:
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Company TSR (value of $100) | $85.94 | $92.71 | $119.90 | $87.68 | $105.05 |
| Peer Group TSR (value of $100) | $90.82 | $126.43 | $111.47 | $107.99 | $132.44 |
| Net Income ($000s) | $46,570 | $98,035 | $81,875 | $61,755 | $43,258 |
| Diluted EPS ($) | $1.29 | $2.73 | $2.31 | $1.75 | $1.24 |
Key incentive design features (Company-wide):
- Annual and long-term incentives largely tied to diluted EPS, net charge-offs/average loans, overhead ratio, and three-year TSR or return on average tangible common equity relative to peers; committee applied adjustments in 2024 to EPS to exclude restructuring impacts when determining incentive payouts .
- 2024 say-on-pay approval exceeded 98%, indicating shareholder support for pay-for-performance designs .
Execution in M&A and Workforce Programs
- Transaction integration: Robison participated in 2017 Puget Sound Bank due diligence and integration planning sessions, indicating direct HR leadership in M&A execution .
- 2025 Kitsap merger workforce transition: As EVP CHRO, Robison is listed as signatory and contact on Transition and Separation Agreements and the ADEA disclosure statement; retention bonus formula equals 20% of monthly base compensation multiplied by retention months, with severance of one week of annualized base compensation per full year of service (min 5 weeks, max 26 weeks) for transitional employees—demonstrating structured HR-led retention and exit economics in a bank merger context .
Investment Implications
- Retention risk appears low: Robison’s 38+ year tenure, role continuity since 2018 as CHRO, and centrality to DEI and merger integration suggest strong institutional knowledge and continuity, reducing HR leadership transition risk .
- Alignment signals: While her current personal ownership and incentive detail are not disclosed, Company-wide governance (clawbacks, anti-hedging, double-trigger equity vesting) indicates robust alignment frameworks for senior leaders .
- Compensation-performance linkage: Company incentives emphasize EPS, credit quality, efficiency, and TSR; with 2024 EPS pressured by balance sheet restructuring, the committee’s adjusted EPS application underscores a pragmatic approach to pay outcomes—important context for HR programs under Robison that cascade performance metrics across the workforce .
- Watch items: Lack of recent Section 16 updates limits visibility into Robison’s current equity stake and potential selling pressure; monitor future filings and proxies for disclosure of ownership or executive agreement terms .