Edward Hollin
About Edward J. Hollin
Edward J. Hollin (age 71) is an independent director of Meridian Corporation (MRBK), serving since 2004. He is a retired shareholder, executive committee member, and chief operating officer of the suburban Philadelphia law firm Riley Riper Hollin & Colagreco, with core credentials in real estate law, commercial transactions, and governance for development-related entities .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Riley Riper Hollin & Colagreco | Retired shareholder; Executive Committee member; Chief Operating Officer | Not disclosed | Firm focuses on real estate, commercial transactions, litigation, labor law, estate/business planning; represented large home builders, real estate developers, financial institutions |
External Roles
| Organization | Role | Tenure | Scope/Notes |
|---|---|---|---|
| Stored Energy Concept, Inc. | Board/committee service (current/prior) | Not disclosed | Local organization involvement |
| Delaware Valley Chapter of the Cystic Fibrosis Foundation | Board/committee service (current/prior) | Not disclosed | Non-profit engagement |
| One Independence Place Condominium Association | Board/committee service (current/prior) | Not disclosed | Property governance |
| Chester County Industrial and Investment Council | Board/committee service (current/prior) | Not disclosed | Local economic development |
| SEEDCOPA (SBA-certified development co.) | Former solicitor | Not disclosed | Development finance support |
Board Governance
- Independence status: Independent director under SEC and Nasdaq rules; Board majority independent .
- Lead Independent Director: Robert T. Holland (not Hollin) .
- Attendance: In 2024, the full Board met 12 times; all directors attended at least 90% of Board and applicable committee meetings .
- Committee assignments and 2024 activity:
- Loan Committee: Member; 12 meetings; Chair: Robert M. Casciato .
- Compensation Committee: Member; 3 meetings; Chair: Anthony M. Imbesi .
- Risk Management Committee: Member (comprised of all independent directors plus executives); 4 meetings; Chair: Denise Lindsay .
- Governance & Nominating Committee: Member (comprised of all independent directors); 10 meetings .
- Audit Committee: Not a member; membership is Holland (Chair), Imbesi, Helmig .
| Committee | Role | 2024 Meetings | Chair |
|---|---|---|---|
| Loan | Member | 12 | Casciato |
| Compensation | Member | 3 | Imbesi |
| Risk Management | Member | 4 | Lindsay |
| Governance & Nominating | Member | 10 | All independent directors |
| Audit | Not a member | 11 (committee) | Holland |
Policies enhancing board effectiveness:
- Anti-hedging and pledging prohibitions for insiders, board self-evaluations, executive sessions chaired by Lead Director, clawback policy .
Fixed Compensation
Director compensation for 2024 was cash-based (no equity grants as director compensation). Fee schedule and Hollin’s cash earned:
| Item | Amount | Notes |
|---|---|---|
| Quarterly Board Retainer (all members) | $10,400 per quarter | Paid to non-employee directors |
| Lead Independent Director fee | $3,100 per quarter | Role-specific |
| Committee Chair fee | $2,100 per quarter | Role-specific |
| Committee member fee (non-chair) | $1,600 per quarter | Role-specific |
| Hollin – Fees earned/paid in cash (2024) | $54,400 | Aggregate director cash fees |
| Equity as director comp (2024) | $0 | Eligible under 2016 Plan, but none granted to directors in 2024 |
Performance Compensation
- Director-specific performance equity/option awards: None granted as director compensation in 2024 .
- Company performance metrics used by the Compensation Committee for executive annual incentives (context for Hollin’s committee oversight):
| Metric | Target | Actual 2024 | Payout vs Target |
|---|---|---|---|
| Commercial loan growth (YoY at 12/31/2024) | > 9% | 12% | ≤ 100% |
| Return on average equity (ROAE, 2024) | > 10.1% | 9.9% | ≤ 98% |
Observed incentive outcomes (executives): CEO 2024 annual incentive $500,000 (88% of salary); CFO $275,000 (85% of salary), reflecting both formulaic and discretionary components overseen by the Compensation Committee .
Other Directorships & Interlocks
- Public company boards: Not disclosed for Hollin in the proxy; biography lists local organization roles and legal practice, but no other public company directorships are indicated .
- Interlocks: None disclosed; Audit and Compensation Committees are composed solely of independent directors per Nasdaq requirements .
Expertise & Qualifications
- Legal and operational expertise: Real estate law, commercial transactions, litigation, COO experience in a law firm; knowledge of real estate industry and financial institution representation .
- Board qualification: Board cites Hollin’s legal background and real estate industry knowledge as qualifications for service .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | As of Date |
|---|---|---|---|
| Edward J. Hollin | 51,826 | 0.46% | March 28, 2025 |
Notes:
- Beneficial ownership excludes unvested stock awards unless vesting within 60 days of March 28, 2025 .
- Anti-hedging and pledging prohibitions apply to directors per governance best practices .
Insider Trades (Form 4 references)
| Filing Date | Period of Report | Form | Link |
|---|---|---|---|
| 2025-08-05 | 2025-08-01 | Form 4 | https://www.sec.gov/Archives/edgar/data/1751826/000175182625000006/xslF345X03/wk-form4_1754403110.xml |
| 2023-05-09 | 2023-05-08 | Form 4 | https://www.sec.gov/Archives/edgar/data/1750735/000175073524000044/xslF345X05/wk-form4_1715718457.xml |
| 2025-08-04 (company IR page) | Not shown | Form 4 | https://investor.meridianbanker.com/documents/form-4-filing-ed-hollin-8-4-2025/ |
| 2020-02-10 (company IR page) | Not shown | Form 4 | https://investor.meridianbanker.com/documents/form-4-filing-edward-j-hollin-february-10-2020/ |
| 2017-11-13 (company IR page) | Not shown | Form 4 | https://investor.meridianbanker.com/documents/form-4-filing-edward-j-hollin-november-13-2017/ |
Context notes:
- Company IR site aggregates insider filings; some summaries reference option vesting schedules and a 2/28/2023 two-for-one stock split adjustment (general explanation example) .
Related-Party Transactions and Conflicts
- Loans to directors/executives are permitted on market terms per Regulation O; aggregate outstanding balance for all executives/directors and affiliates was $1.0 million at December 31, 2024; Board policy states such loans must be on substantially the same terms as non-affiliated customers .
- Independence determinations consider vendor/contractual relationships; Hollin is classified independent and no specific related-party transactions are disclosed for him .
- Anti-hedging and pledging prohibitions mitigate alignment risks; clawback policy adopted November 21, 2023 covering incentive and equity awards for executives .
Governance Assessment
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Strengths:
- Tenured independent director (since 2004) with strong legal/real estate acumen; broad committee participation (Loan, Compensation, Risk, Governance), and ≥90% attendance in 2024 .
- Clear governance scaffolding: majority independent board, Lead Independent Director structure, anti-hedging/pledging, clawback policy, independent Audit Committee and Compensation Committee .
- Ownership alignment: meaningful personal stake (51,826 shares; 0.46%), plus companywide ESOP framework for employees .
-
Watch items / potential investor confidence signals:
- Compensation Committee used discretionary adjustments alongside performance metrics; ROAE came in below target (9.9% vs. >10.1%), yet executive incentive payouts remained high (CEO 88% of salary, CFO 85%), which may raise pay-for-performance calibration questions; Hollin serves on this committee .
- General director/officer loan exposure exists (aggregate $1.0 million) though governed under Regulation O; monitor individual exposures if disclosed in future filings .
-
No RED FLAGS identified specific to Hollin:
- No disclosed related-party transactions involving Hollin; independence affirmed; no director equity grants in 2024 that might alter risk profile; audit committee independence maintained (Hollin not on Audit) .
-
Overall: Hollin’s legal and real estate background supports board oversight across credit (Loan Committee) and incentives (Compensation Committee). The governance framework is robust, but investors should monitor the Compensation Committee’s use of discretion vs. quantitative outcomes and any future related-party disclosures or insider activity patterns .