Robin Lefkowitz
Executive Vice President and Chief Branch Administration, Deposit Operations and Business Development Officer at Northfield Bancorp
Executive
About Robin Lefkowitz
Robin Lefkowitz is Executive Vice President and Chief Branch Administration, Deposit Operations and Business Development Officer at Northfield Bancorp, Inc. (NFBK). She joined Northfield Bank in 2006, was promoted to EVP, Business Development and Branch Administration in 2016, added Deposit Operations in 2020, and has held her current title since 2021; age 58 as of December 31, 2024 . Company performance during her recent tenure shows TSR of $83.83 on a $100 base from 2019–2024 vs KBW Nasdaq Bank Index $132.60, diluted EPS of $0.72 in 2024, and net income of $29.9M in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Northfield Bank | Director of Business Development | 2006–2016 | Led business development across branches; foundation for deposit growth initiatives . |
| Northfield Bank | EVP, Business Development and Branch Administration | 2016–2020 | Oversaw branch administration and growth execution . |
| Northfield Bank | EVP, Chief Branch Administration, Deposit Operations and Business Development Officer | 2021–Present | Expanded remit to deposit operations; accountability for transaction deposit growth and branch productivity . |
External Roles
Not disclosed in company proxy statements .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $311,902 | $325,672 | $347,491 |
| Target cash incentive (% of base) | 40% (EVP tier) | 40% (EVP tier; payout gated by net income) | 40% (EVP tier) |
| Actual non‑equity incentive ($) | $110,796 | $0 (plan not activated) | $61,994 |
| Discretionary bonus ($) | $17,500 | $30,000 | $10,000 |
Performance Compensation
| Metric | Weighting | Target | Actual 2024 | Payout Status | Vesting/Notes |
|---|---|---|---|---|---|
| EPS Goal | 50% (EVP) | $0.91 | Below Threshold | No payout | Annual cash incentive component . |
| Loan Growth Goal | 10% (EVP) | $168.0M | Below Threshold | No payout | Annual cash incentive component . |
| Deposit Growth Goal | 25% (EVP) | $90.0M | 107% of Target | Paid (scaled) | Annual cash incentive component . |
| Transaction Deposit (DDA) Goal | Not disclosed | $70.0M | 95% of Target | Paid (scaled) | Annual cash incentive component . |
| CRA Goal | 15% (EVP) | Qualitative CRA targets | Above Stretch | Paid (above stretch) | Annual cash incentive component . |
Equity awards (granted 1/26/2024): 6,302 performance-based RSUs (three-year cliff vest, ±50% vs core ROAA target with peer modifier) and 6,302 time-based restricted shares (pro-rata over 3 years starting one year post-grant) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 137,404 shares (includes 3,000 joint with spouse; 24,819 in 401(k); 35,628 ESOP; plus 50,000 options exercisable within 60 days) . |
| Ownership as % of outstanding | Less than 1% . |
| Unvested equity at 12/31/2024 | 12,604 shares unvested; market value $146,458 at $11.62/share . |
| Options outstanding | 10,000 options @ $14.76 exp. 5/27/2025; 40,000 options @ $18.44 exp. 11/16/2026 . |
| Stock ownership guidelines | Exec VPs must hold Qualifying Shares equal to 2x base salary; compliance status: all executives met or are within 5-year window as of 12/31/2024 . |
| Hedging/pledging | Prohibited (no shorting, derivatives; no margin purchases or pledging) . |
Employment Terms
| Provision | Terms (EVP – Lefkowitz) |
|---|---|
| Agreement term | Initial 3-year term; auto-renew annually to maintain 3 years unless non-renewed; renewed effective Jan 1, 2025 . |
| Severance (no change in control) | Lump sum: 2x base salary + 2x average annual bonus/incentive (last 2 years); 18 months health benefits; life insurance contributions; non‑compete 1 year; non‑solicit 1 year . |
| Severance (change in control, double trigger) | Same multiples but bonus based on higher of last two years; acceleration of unvested equity; 18 months benefits; payments limited to avoid 280G excess parachute . |
| Estimated payouts (12/31/2024 scenario) | No CIC: $861,074 total (salary $700,000; bonus $158,296; benefits and life insurance $2,778) . CIC: $1,282,697 total (salary $700,000; CIC bonus $256,592; equity acceleration $323,327; benefits and life insurance $2,778) . |
| Disability/Death | One year base salary; benefits; equity acceleration (subject to award terms) . |
| Clawback | SEC-compliant clawbacks apply to cash and performance-based equity; policy adopted and administered by Board/Committee . |
Deferred Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Executive contributions ($) | $0 | $17,389 |
| Registrant contributions ($) | $0 | $1,507 |
| Aggregate earnings ($) | $71 | $1,736 |
| Aggregate balance at year-end ($) | $1,680 | $22,312 |
Equity Award Detail (2024 Grants – Targets and Ranges)
| Grant Date | Threshold (#) | Target (#) | Stretch (#) | Maximum (#) | Time-Based Shares (#) | Grant Date Fair Value ($) |
|---|---|---|---|---|---|---|
| 1/26/2024 | 3,151 | 6,302 | 9,453 | 11,816 | 6,302 | $167,759 |
Performance & Track Record
- 2023: All corporate goals (EPS, Loan, C&I, Deposit, DDA) fell below thresholds; ESG achieved but unpaid due to net income gate; no plan payout, discretionary bonuses awarded to select EVPs including Lefkowitz ($30,000) .
- 2024: EPS and Loan goals not met; Deposit achieved at 107% of target and DDA at 95%; CRA above stretch; Lefkowitz earned $61,994 under the plan plus $10,000 discretionary bonus .
Governance, Say‑on‑Pay, and Policies
- Strong shareholder support for executive compensation: >95% approval in 2024 say‑on‑pay .
- Insider trading policy and designated employee addendum maintained; directors/executives subject to strict trading windows and controls .
- Loans to insiders are permitted only under banking regulations; aggregate loans to directors/executives were $649,289 at 12/31/2024, all on market terms; no adverse features disclosed (not specific to Lefkowitz) .
Investment Implications
- Pay-for-performance linkage is intact: EPS and loan underperformance in 2024 zeroed related payouts, while deposit/CRA outperformance drove partial awards; 2023 plan paid zero, reinforcing downside risk to cash incentives when core measures miss .
- Upcoming option expiries (10,000 expiring 5/27/2025; 40,000 expiring 11/16/2026) and annual vesting cycles on time-based equity suggest potential trading/activity windows, though hedging/pledging are prohibited and ownership guidelines constrain selling, reducing misalignment risk .
- Change-in-control protections are double-trigger with 280G cutbacks, limiting excessive parachute risk; estimated CIC payout for Lefkowitz (~$1.28M) is balanced across salary, bonus, and equity, with benefits limited to 18 months—moderate retention value without shareholder-unfriendly gross-ups .
- Ownership alignment is supported by significant beneficial holdings and strict guidelines; all executives met or are on track for guideline compliance, and clawbacks cover both cash and equity, strengthening governance signals .