John J. Mazur, Jr.
About John J. Mazur, Jr.
Independent Chairman of the Board at Kearny Financial Corp. (KRNY); age 71 as of June 30, 2025; director since 1996 and Chairman since 2004, with separate roles from the CEO, supporting robust board oversight . Background in operating and scaling consumer businesses (President/CEO of Elegant Desserts; partner/general manager of Mazur’s Bakery) and current focus on real estate management and business development for the bank; Villanova University graduate . The Board determines him independent under Nasdaq standards; directors achieved at least 75% attendance, and the Board held two executive sessions in FY2025, indicating engagement and governance discipline .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Elegant Desserts (wholesale bakery) | President/CEO; continued as President after sale | Opened in 1994; sold in 2017; President through March 2020 | Grew gourmet dessert distribution; marketing and sales leadership |
| Mazur’s Bakery (family-owned) | Partner and General Manager | 1976–2003 | Business management, employee relations |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Meadowlands Chamber of Commerce | Board member | Current | Regional business network access; potential relationship sourcing |
| Felician University | Board of Regents member | Current | Academic governance; community ties |
Board Governance
- Chairman of the Board (independent; not an executive), with CEO role held separately by Craig L. Montanaro .
- Committee assignments: Chair, Nominating and Corporate Governance Committee; Member, Audit & Compliance Committee; Member, Corporate Responsibility Committee .
- Board held 18 meetings in FY2025; no director below 75% attendance; two executive sessions were held .
- Board independence and practices: the Board affirmed Mazur and a majority as independent; annual self-evaluations, stock ownership requirements, and clawback policy disclosed .
Fixed Compensation
| Component (FY2025) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $122,250 |
| All Other Compensation | $22,386 |
| Total | $144,636 |
Director fee structure (FY2025):
- Quarterly Board retainers: non-employee directors $15,700 (Bank) and $11,000 (Company); Chairman receives $17,200 (Bank) and $11,800 (Company) per quarter .
- Committee retainers: Audit & Compliance members $1,562.50 per quarter; Chair $2,500; Compensation members $1,000; Chair $1,500; no fees for other committees .
- All Other Compensation breakdown for Mazur: Health and long-term care premiums $19,181; imputed income from director life insurance $3,205 .
Performance Compensation
| Equity Component (FY2025) | Value (USD) |
|---|---|
| Stock Awards | — (none granted) |
| Option Awards | — (none granted) |
- As of June 30, 2025, Mazur held 100,000 vested stock options; no restricted stock awards outstanding for directors .
- KRNY’s director program in FY2025 emphasized cash retainers; no equity grants disclosed for directors .
Other Directorships & Interlocks
| Company/Organization | Type | Role |
|---|---|---|
| Public company boards | Public | None (no directors serve on other public company boards) |
| Meadowlands Chamber of Commerce | Non-profit/business chamber | Board member |
| Felician University | Academic/non-profit | Board of Regents |
- No disclosed interlocks with KRNY’s competitors/suppliers/customers via public company boards; non-profit/academic roles noted .
Expertise & Qualifications
- Banking industry familiarity; strong marketing, sales, and business management skills; employee relations experience .
- Governance leadership as independent Chairman and as Chair of Nominating and Corporate Governance; member of Audit & Compliance and Corporate Responsibility Committees .
- Education: Villanova University .
Equity Ownership
| Ownership Detail (as of Aug 22, 2025) | Amount |
|---|---|
| Total beneficial ownership | 323,600 shares (includes 100,000 options; 2,541 shares held by spouse) |
| Ownership as % of shares outstanding | <1% |
| Options outstanding (vested) | 100,000 |
| Shares pledged as collateral | None (company policy prohibits pledging; only CEO has a small pledge) |
| Director stock ownership guideline | 3x annual cash retainer; directors comply |
Governance Assessment
- Board effectiveness: Independent Chair separated from CEO; active committee leadership (Mazur chairs Nominating & Corporate Governance; serves on Audit & Compliance and Corporate Responsibility), and strong attendance indicate robust oversight and engagement .
- Independence and conflicts: Board affirmed independence; no related-party transactions >$120,000 involving directors; any insider loans are ordinary course on market terms and board-approved with abstention, reducing conflict risk .
- Alignment: Director equity holdings (vested options; common shares) and stock ownership guidelines (compliance confirmed) support alignment; anti-hedging/anti-pledging policy in place with no pledges by Mazur .
- Compensation: Cash-heavy director pay in FY2025 with modest perquisites (health/long-term care; imputed life insurance), consistent with standardized committee retainer structure; no equity grants to directors in FY2025 .
- Shareholder signals: Say-on-Pay support at 95.65% in Oct 2024 suggests investor confidence in KRNY’s compensation governance; Compensation Committee employs an independent consultant (Pearl Meyer) and undertakes conflict-of-interest assessments .
RED FLAGS: None disclosed specific to Mazur. No pledging/hedging, no related-party transactions >$120,000, attendance thresholds met. Perquisites include health/long-term care and director life insurance, but these are disclosed and standardized under director policies .