Thomas Signor
About Thomas Signor
Thomas Signor, age 57, serves as Executive Vice President and Chief Administrative Officer of Pioneer Bancorp, Inc. (PBFS) since July 2022. His background spans risk management (CRO), compliance (CCO), and banking operations (COO), including 16 years at National Union Bank of Kinderhook and roles at Paradigm Capital Management and National Bank of Coxsackie . Company performance context over his tenure shows cumulative TSR measured at 91, 102, and 118 for the fiscal years ending June 30, 2023, June 30, 2024, and the six months ended December 31, 2024, respectively, alongside net income of $21,948K, $15,260K, and $9,600K .
| Period | TSR (Value of $100 Investment) | Net Income ($K) |
|---|---|---|
| FY 2023 (June 30, 2023) | $91 | $21,948 |
| FY 2024 (June 30, 2024) | $102 | $15,260 |
| 6M (Dec 31, 2024) | $118 | $9,600 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| National Bank of Coxsackie | Vice President & Chief Risk Officer | 2022 | Enterprise risk oversight; safety and soundness focus |
| Paradigm Capital Management | Chief Compliance Officer | 2019–2022 | Regulatory compliance and controls |
| National Union Bank of Kinderhook | EVP & Chief Operating Officer | 2015–2019 | Operations leadership and execution |
| National Union Bank of Kinderhook | Various roles | 16 years (tenure) | Long-term banking experience; operational resilience |
External Roles
No current public-company directorships or external board roles were disclosed in PBFS executive biographies .
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus paid for Thomas Signor are not disclosed (he is not a Named Executive Officer in the Summary Compensation Table) .
Performance Compensation
- Plan: Pioneer Bank Targeted Incentive Plan (TIP) applies to executive officers (including non-CEO executives) with annual cash awards based on bank-wide, department and/or individual goals .
- Performance metrics (plan year ended Dec 31, 2024): current-year ROA, three-year ROA, core deposit growth, and three-year ROA vs a savings bank peer group; non-CEO executive participants have equal weighting across these metrics; awards contingent on minimum net income and safety/soundness thresholds and satisfactory job performance .
- Award form/timing: Paid in cash lump sum within 2.5 months after plan year end; must be employed on last day of plan year .
| Metric | Weighting | Target | Actual | Payout | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Current-year ROA | Equal weight for non-CEO participants | Not disclosed | Not disclosed | Not disclosed | Cash; paid within 2.5 months post-year-end; employment on plan-year end required |
| Three-year ROA | Equal weight for non-CEO participants | Not disclosed | Not disclosed | Not disclosed | Cash; paid within 2.5 months post-year-end; employment on plan-year end required |
| Core deposit growth | Equal weight for non-CEO participants | Not disclosed | Not disclosed | Not disclosed | Cash; paid within 2.5 months post-year-end; employment on plan-year end required |
| Three-year ROA vs peer group | Equal weight for non-CEO participants | Not disclosed | Not disclosed | Not disclosed | Cash; paid within 2.5 months post-year-end; employment on plan-year end required |
Equity Ownership & Alignment
Beneficial Ownership Trend
| As-of Date | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Sep 23, 2022 | — | *<1% | No pledge; policy prohibits pledging/hedging unless Board-approved exception (none approved) |
| Sep 29, 2023 | — | *<1% | No pledge |
| Oct 15, 2024 | 20,000 | *<1% | No pledge |
| Mar 24, 2025 | 29,097 | *<1% | No pledge; ownership breakdown in footnote |
- Less than 1% per proxy tables.
2025 Ownership Breakdown (as of Mar 24, 2025)
| Component | Amount | Detail |
|---|---|---|
| ESOP shares | 1,097 | Held in Pioneer Bank ESOP |
| Options exercisable (within 60 days) | 8,000 | Exercisable; grant/expiry not individually disclosed |
| Unvested restricted stock | 20,000 | Granted; vests 20% annually over 5 years beginning May 21, 2025; accelerated on death, disability, or involuntary termination following a change in control |
| Total reported beneficial shares | 29,097 | As shown in 2025 proxy |
Vesting Schedules and Pressure Indicators
| Award Type | Grant Date | Amount | Vesting Schedule | Acceleration Terms | Option Exercise Price | Expiration |
|---|---|---|---|---|---|---|
| Restricted stock | Not individually dated; proxy indicates unvested RS (aligned with May 21, 2024 grant cycle) | 20,000 | 20% per year over 5 years beginning May 21, 2025 (i.e., expected annual tranches May 21, 2025–2029) | Accelerates upon death, disability, or involuntary termination post-change-in-control | N/A | N/A |
| Stock options | Not individually disclosed | 8,000 (exercisable within 60 days as of Mar 24, 2025) | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
- Anti-hedging/pledging policy: Directors and executive officers are prohibited from short sales and hedging/derivative transactions; pledging generally prohibited; Board has not approved any exceptions; no pledges reported for directors/executive officers .
Employment Terms
| Term | Disclosure | Key Details |
|---|---|---|
| Role start date | Disclosed | Appointed EVP & Chief Administrative Officer in July 2022 |
| Employment agreement | Not individually disclosed for Signor | No personal employment agreement disclosed; CEO has separate employment agreement |
| Change-in-control agreements | Company-level disclosure | Pioneer Bank entered into change-in-control agreements with six other executive officers (including CFO and Chief Banking Officer); two-year terms with automatic annual renewals; if covered, executives receive 2x the sum of base salary (higher of termination-date or change-in-control date) plus highest annual cash bonus from the prior three performance periods; life/medical/dental insurance continued up to 24 months; payment in lump sum within 30 days; double trigger (termination on/after change-in-control) |
| Non-compete | Not disclosed for Signor | CEO has a one-year non-compete; no specific non-compete terms disclosed for Signor |
Investment Implications
- Alignment improving: Signor’s reported ownership rose from no disclosed shares in 2022–2023 to 20,000 in 2024 and 29,097 in 2025, including 20,000 unvested RS and 8,000 exercisable options; combined with strict anti-hedging/pledging policies, this suggests increasing skin-in-the-game and lower alignment risk flags .
- Vesting-driven supply: The 20,000 RS vests 20% annually beginning May 21, 2025; monitor Form 4 filings around vest dates for potential sales to cover taxes or portfolio rebalancing; options data for Signor is limited, but 8,000 are exercisable, warranting surveillance for exercise/sale activity .
- Pay-for-performance linkage: Although individual base/bonus amounts for Signor are not disclosed, his incentives are governed by the TIP with equal weighting across profitability and core deposit growth metrics, and payouts contingent on net income and safety/soundness thresholds—constructive for performance alignment .
- Retention and change-in-control economics: Executives covered by CIC agreements receive 2x salary+bonus and benefits for up to 24 months upon termination on/after a CIC, providing retention stability but also potential transaction-related costs; Signor’s individual CIC participation is not explicitly confirmed in the proxy (company discloses six executives under CIC agreements) .
- Company performance context: TSR improved to 118 for the six months ended Dec 31, 2024 with net income at $9.6M; vigilant monitoring of performance trends and incentive outcomes is warranted given the bank’s profitability focus embedded in the TIP .