Steven Scopellite
About Steven M. Scopellite
Steven M. Scopellite, age 59, has served as an independent director of OceanFirst Financial Corp. since 2019 and currently chairs the Information Technology Committee and serves on the Leadership Committee . He retired from Goldman Sachs in 2013 as Global Chief Information Officer after nearly 30 years, where he led penetration into new markets, pioneered electronic trading expansion, and built a global technology organization . The board identifies 11 of 13 directors as independent; only Christopher Maher and Joseph Lebel are non‑independent, confirming Scopellite’s independence . All directors attended at least 75% of board and committee meetings in 2024; the board met 11 times .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs | Global Chief Information Officer | Retired in 2013; ~30-year career | Led expansion into electronic trading; built world-class global technology organization |
External Roles
| Organization | Role | Tenure | Focus/Impact |
|---|---|---|---|
| Pledge Publishing | Advisor and Board member | Current | Building technology linking mainstream gaming to Web3 |
| Riverview Medical Center | Board of Trustees | Current | Community healthcare governance |
Board Governance
- Committee assignments: Chair, Information Technology Committee; Member, Leadership Committee .
- Committee activity: Information Technology Committee met 5 times in 2024; Leadership Committee met 4 times .
- IT Committee remit: Oversees technology strategy and cybersecurity, including AI initiatives, and technology-related risk management .
- Board leadership: Combined CEO/Chair with Lead Independent Director (Anthony R. Coscia) and executive sessions of independent directors each regular meeting .
- Independence and attendance: Scopellite is independent; all directors attended at least 75% of board/committee meetings; board held 11 meetings in 2024 .
| Committee | Role | 2024 Meetings | Key Oversight |
|---|---|---|---|
| Information Technology | Chair | 5 | Technology strategy, cybersecurity, AI, tech risk management |
| Leadership | Member | 4 | Governance policies, director nominations, ESG oversight; Chair is Lead Director |
Fixed Compensation
| Component (2024) | Amount ($) | Details |
|---|---|---|
| Fees Earned/Paid in Cash | 110,000 | Bank retainer $45,000; Company retainer $50,000; Joint committee chair retainer $15,000 (IT Committee is joint) |
| Stock Awards (Grant-Date Fair Value) | 50,008 | 3,354 restricted shares granted in 2024; three-year vesting in equal installments starting one year after grant |
| All Other Compensation | 4,259 | Cash dividends on vested restricted stock |
| Total | 164,267 | Sum of the above |
- Director equity grants vest time-based over three years; directors out of compliance with ownership guidelines receive retainers in stock instead of cash (all directors were compliant at 12/31/2024) .
Performance Compensation
Directors do not receive performance-based compensation; equity grants are time-based restricted stock with three-year vesting and no performance metrics or options granted/vested based on performance .
| Element | Performance Linkage | Vesting/Terms |
|---|---|---|
| Restricted Stock (Director grant) | None | Vests in equal installments over three years beginning one year after grant |
Other Directorships & Interlocks
| Company/Institution | Type | Role | Potential Interlock/Conflict Note |
|---|---|---|---|
| Pledge Publishing | Private | Advisor/Board member | No related-party transactions disclosed; board moratorium on transactions with directors/families; none in 2024 |
| Riverview Medical Center | Non-profit | Trustee | Routine banking transactions only; no other transactions in 2024 |
Expertise & Qualifications
- Significant public company governance, IT and cybersecurity expertise; Global CIO experience in large-scale financial services technology .
- Chairs IT Committee with explicit oversight of AI initiatives and technology risk management .
- Governance role on Leadership Committee covering corporate governance, nominations, and ESG oversight .
Equity Ownership
| Metric (as of 3/25/2025) | Amount | Notes |
|---|---|---|
| Shares owned (excluding options) | 13,942 | Includes unvested time-based restricted shares |
| Options exercisable within 60 days | 17,065 | 13,652 vested and 3,413 unvested options at 12/31/2024 |
| Total beneficial ownership | 31,007 | Less than 1% of shares outstanding |
| Unvested time-based RS | 5,717 | Awards: 2,109 (Feb 2023), 3,354 (Feb 2024), 2,778 (Feb 2025); 33.3% annual vest from March 1 following grant |
| Pledged shares | None | Company states no pledging by directors/officers as of 3/25/2025 |
| Ownership guideline compliance | Yes | Directors must hold ≥3x company annual retainer; all were compliant at 12/31/2024 |
Insider Trades
| Item | 2024 Status | Source |
|---|---|---|
| Section 16(a) compliance | Compliant (no late reports identified for directors; one late Form 4 for an executive officer not involving Scopellite) | Proxy review findings |
Note: The proxy does not enumerate individual Form 4 transactions for directors; Section 16 compliance indicates timely reporting in 2024 for directors .
Governance Assessment
- Board effectiveness: Scopellite’s chairmanship of the IT Committee adds depth on cybersecurity and technology risk, including AI oversight—material to bank resilience and operational risk control .
- Independence and oversight: Independent director with participation in independent-only executive sessions and governance via the Leadership Committee; board maintains combined CEO/Chair mitigated by a Lead Independent Director structure .
- Engagement/attendance: Board met 11 times in 2024; all directors met the 75% attendance threshold, supporting engagement standards .
- Pay and alignment: Balanced director pay mix (cash retainers plus time-based equity) and binding ownership guidelines; no hedging/pledging without board approval and no pledging as of March 25, 2025—positive alignment signals .
- Conflicts/related-party exposure: Board moratorium on director/family transactions; no related-party transactions disclosed in 2024; permitted employee/officer loan programs are regulated and disclosed; none noted for Scopellite .
RED FLAGS
- None identified specific to Scopellite: no pledging, no related-party transactions, independent status, and strong technology oversight footprint .