James Daley
About James Daley
James Daley is Executive Vice President and Director of Commercial & Industrial (C&I) Lending at NB Bancorp/Needham Bank, appearing on the executive management roster in the Company’s investor materials in Q2–Q3 2025 . He previously held the title “SVP – Dir Structured Finance,” and reported as an officer on his Form 3 filed January 22, 2025, which also disclosed indirect beneficial ownership of 5,414 NBBK common shares via the 401(k) plan . Company performance has been strong during his tenure window: GAAP net income rose to $42.1 million in 2024 from $9.8 million in 2023, and net interest income increased 22.4% to $161.2 million; post-IPO, the share price increased ~43% through Q3 2025 per Company investor materials .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NB Bancorp / Needham Bank | EVP & Director of Commercial & Industrial Lending | 2025–present | Listed on the executive management team in investor presentations |
| NB Bancorp / Needham Bank | SVP – Director Structured Finance (officer) | As of Jan 22, 2025 | Officer title disclosed on SEC Form 3; indicates structured finance leadership |
Equity Ownership & Alignment
| Metric | As of | Value |
|---|---|---|
| Common shares beneficially owned (indirect via 401(k)) | Jan 22, 2025 | 5,414 |
| Shares outstanding (for context) | Feb 28, 2025 | 41,842,641 |
| Shares pledged | Policy status | Pledging prohibited; Board has not approved any exception |
- Anti-hedging: Directors and executive officers are prohibited from hedging transactions in Company stock .
- Clawback: The Company maintains a recoupment policy aligned with SEC Rule 10D‑1/Nasdaq Rule 5608 to recover erroneously awarded incentive compensation after restatements; no indemnification permitted .
- Insider trading/award timing: The Company avoids granting stock options around blackout windows; no stock options were granted to executive officers in 2024 .
Employment Terms
- 2025 Equity Incentive Plan: Approved April 23, 2025, with a fungible share reserve of 5,978,802 shares (4% full‑value, 10% options), one‑year minimum vesting for at least 95% of awards, dividends deferred until vesting, no option repricing/cash buyouts, and “double trigger” vesting upon change in control plus termination or if awards are not assumed by an acquirer .
- Stock ownership guidelines (management/NEOs): Implemented January 2025; CEO 5x salary, other NEOs 3x salary; 50% of vested shares must be held until guideline met; annual compliance review (guidelines explicitly apply to NEOs) .
- Company-wide frameworks for senior executives include non‑solicitation/non‑competition clauses in certain employment agreements (e.g., one‑year periods in CEO/COO agreements), providing context on standard restrictions (not specific to Daley) .
Performance & Track Record (Company context)
Company operating performance relevant for incentive alignment:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Net Interest Income ($USD Millions) | $131.7 | $161.2 |
| Interest & Dividend Income ($USD Millions) | $222.1 | $292.5 |
| Interest Expense ($USD Millions) | $90.4 | $131.3 |
| GAAP Net Income ($USD Millions) | $9.8 | $42.1 |
| Operating Net Income ($USD Millions) | $34.3 | $45.5 |
| Operating Noninterest Expense ($USD Millions) | $92.4 | $102.0 |
Quarterly momentum (Q2 → Q3 2025):
| Metric | Q2 2025 | Q3 2025 |
|---|---|---|
| Net Income ($USD Millions) | $14.6 | $15.4 |
| Diluted EPS ($USD) | $0.39 | $0.43 |
| Net Interest Margin (%) | 3.82% | 3.78% |
| Interest & Dividend Income ($USD Thousands) | $79,848 | $81,688 |
| Interest Expense ($USD Thousands) | $32,841 | $33,513 |
Additional context: post‑IPO investor materials indicate share price +43.3% through Q3 2025 and operating ROAA/ROATCE improvement .
Compensation & Incentives Framework (Company)
- Short‑term incentives: Beginning in 2025, the Compensation Committee implemented a formula‑based short‑term incentive plan for the CEO and other executives (as determined), to tie payouts to Company performance while avoiding outsized risk‑taking .
- Long‑term incentives: Needham Bank’s LTIP grants are typically 3‑year cliff‑vested and credited to Needham Bank tangible book value appreciation; awards accelerate upon change in control, death/disability, or certain separations .
- Bonus policy: Management bonuses are recommended by the CEO/COO and set by the Compensation Committee, with structured review of quantitative and qualitative performance factors for NEOs .
Note: Daley is not listed as a named executive officer in the 2025 proxy, so individual compensation details (base salary, bonus targets, LTIP grant values) are not disclosed in public filings .
Risk Indicators & Governance
- Section 16 compliance: Filings note late Form 4s for certain insiders (Jackson, Ayoub, Lapointe, Evangelista); James Daley not cited among late filers .
- Anti‑hedging/pledging: Strict prohibitions reduce alignment and leverage risks; no pledging exceptions approved .
- Equity Plan shareholder support: The 2025 Equity Incentive Plan received shareholder approval (24,020,436 For; 983,457 Against; 331,918 Abstentions) .
Investment Implications
- Role leverage: As EVP & Director of C&I Lending, Daley is positioned at a core growth engine—commercial lending grew meaningfully in 2024 and continued in 2025—supporting pay‑for‑performance frameworks now being formalized by the Compensation Committee .
- Selling pressure: Anti‑hedging/pledging policy and required holding of vested shares under stock ownership guidelines (for NEOs) reduce near‑term insider selling pressure; dividends on awards are deferred until vesting, further tightening alignment .
- Retention incentives: The 2025 Equity Plan’s double‑trigger change‑of‑control vesting, one‑year minimum vesting, and prohibition on option repricing are shareholder‑friendly yet competitive for talent retention in senior roles likely eligible for awards .
- Data gaps: Absence of Daley‑specific pay metrics (salary, bonus targets, PSU/RSU details) limits pay‑for‑performance calibration; monitoring future proxy disclosures and Form 4 activity will be key to assessing his incentive outcomes relative to C&I portfolio performance .