Susan Eisenhauer
About Susan Eisenhauer
Independent director of Magyar Bancorp, Inc. (MGYR); age 68; appointed to the Bank and Company boards in September 2022. Retired Managing Director, Deloitte Tax LLP (2000–2017) specializing in international tax and transfer pricing, with 37 years in corporate international tax; brings financial reporting/regulatory experience to the board . She is independent under NASDAQ standards and serves on the Audit Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte Tax LLP | Managing Director, International Tax & Transfer Pricing | 2000–2017 | Financial expertise relevant to reporting and regulation; 37 years corporate international tax experience |
External Roles
| Company/Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed in the proxy |
Board Governance
| Attribute | Detail |
|---|---|
| Board independence | Independent director (Board determined all directors except the CEO and CFO are independent) |
| Committees | Audit Committee – Member |
| Committee chairs | Not a chair; Audit Committee chaired by Andrew G. Hodulik, CPA |
| Board meetings FY2024 | 12 Board meetings; independent director executive sessions regularly scheduled |
| Committee meetings FY2024 | Audit Committee: 4 meetings |
| Attendance | No director attended fewer than 75% of aggregate Board and committee meetings in FY2024 |
| Annual meeting attendance | All directors on the Board at the time attended the 2024 Annual Meeting |
| Leadership structure | Chair and CEO roles separated; Chairman sets agenda and leads executive sessions |
Fixed Compensation
| Component | Amount/Policy | Source |
|---|---|---|
| Fees earned or paid in cash (FY2024) | $65,480 | |
| Bank annual director retainer (policy) | $41,520 | |
| Company (HoldCo) annual retainer (policy) | $16,000 | |
| Committee meeting fees (policy) | $650 per committee meeting (general); Audit Committee members $1,300 per audit meeting; Audit Chair +$5,000 retainer |
Performance Compensation
| Item | Detail |
|---|---|
| Director equity grants in FY2024 | None granted to directors in FY2024 (per proxy) |
| Outstanding director equity (as of 9/30/24) | Proxy notes unvested stock/options for Messrs. Hodulik, Lankey, Yelencsics; no such awards noted for Eisenhauer |
| Director stock ownership guidelines | Directors expected to own at least $75,000 in common stock (original purchase value; excludes unexercised options); directors/officers were compliant or within 4-year phase-in as of 9/30/24 |
Other Directorships & Interlocks
| Type | Detail |
|---|---|
| Family/related interlocks | Proxy notes family relationship between Thomas Lankey and Joseph Yelencsics (first cousins); no interlocks noted for Eisenhauer |
| Related-party transactions | No transactions >$120,000 involving directors/officers during 10/1/23–9/30/24 |
Expertise & Qualifications
- 37 years in corporate international tax; Managing Director at Deloitte Tax (2000–2017) with specialty in transfer pricing—relevant to financial reporting and regulatory compliance .
- Audit oversight experience as Audit Committee member; designated “audit committee financial expert” is Director Hodulik, not Eisenhauer .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned (12/31/2024) | 5,532 shares |
| Ownership as % of shares outstanding | 0.08% (computed from 5,532 / 6,570,861 shares outstanding) |
| Vested vs. unvested | No unvested director equity disclosed for Eisenhauer |
| Options (exercisable/unexercisable) | None disclosed for Eisenhauer |
| Shares pledged | No pledging disclosure in proxy |
| Ownership guidelines | $75,000 minimum for directors (original purchase value); directors/officers compliant or within 4-year phase-in as of 9/30/24 |
Governance Assessment
- Strengths: Independent director with deep tax/financial background; serves on Audit Committee overseeing reporting, controls, and auditor oversight . Board maintains separate Chair/CEO roles and holds regular independent executive sessions—favorable governance structure . Attendance thresholds met across directors in FY2024; all attended the 2024 annual meeting—signals engagement .
- Alignment: She received cash-only director compensation in FY2024 ($65,480) with no new director equity grants; equity ownership totals 5,532 shares (~0.08% of outstanding), with stock ownership guidelines in place (directors required to own $75,000, compliant or within phase-in) .
- Conflicts/related-party exposure: Proxy reports no related-party transactions >$120,000 during the period; director/officer loans permitted under Regulation O on market terms; employees/directors receive a 1% loan rate reduction under a broad employee program .
- RED FLAGS:
The Company does not have anti-hedging policies applicable to directors; hedging transactions are not prohibited—an investor alignment risk in some frameworks . No director equity grants in FY2024 and no disclosed outstanding equity for Eisenhauer may limit direct equity-based alignment relative to peers .
Notes: All information reflects disclosures in MGYR’s 2025 DEF 14A proxy (covering FY2024 activity) and is limited to items explicitly disclosed therein.