Vito Pantilione
About Vito Pantilione
Vito S. Pantilione, 73, has served as President, CEO, and director of Parke Bancorp since its formation in 2005 and has led Parke Bank since inception in 1998; his background includes senior roles at multiple financial institutions and ownership of mortgage companies . Pay-versus-performance disclosure shows Compensation Actually Paid to the PEO of $1.995M (2022), $1.564M (2023), and $1.713M (2024), alongside cumulative TSR values of 103, 102, and 109 (from a $100 base) and net income of $41.796M, $28.436M, and $27.492M, respectively . He holds an Honorary Doctorate from Philadelphia University recognizing accomplishments in finance and banking .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Parke Bank | President & CEO; Director | 1998–present | Founding executive leading franchise growth and operations |
| Parke Bancorp, Inc. | President & CEO; Director | 2005–present | Public company leadership and shareholder engagement |
| First Commercial Bank of Philadelphia | President | 1991–1994 | Led bank operations and growth initiatives |
| Eagle Valley (mortgage company) | President & Owner | — | Diversified mortgage operations leadership |
| Interstate Mortgage Management | President & Owner | — | Mortgage brokerage leadership in Southern New Jersey |
| First Federal Savings of Hammonton | Executive Vice President | — | Senior banking leadership |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Federal Reserve Bank of Philadelphia | Community Depository Institution Advisory Council (past member) | — | Regional policy and industry advisory engagement |
| Philadelphia University | Honorary Doctorate recipient | — | Recognition for accomplishments in finance and banking |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $1,102,500 | $1,102,500 |
| Bonus ($) | $425,000 (includes one-time $126,250 reduction from agreement) | $551,250 |
| All Other Compensation ($) | $52,846 | $54,034 |
| Total ($) | $1,580,346 | $1,707,784 |
Perquisites – 2024
| Item | Amount ($) |
|---|---|
| Safe Harbor | $10,350 |
| Automobile Expense/Allowance | $39,138 |
| Country Club Dues | $4,546 |
| Total | $54,034 |
Notes:
- NEOs reported no “non-equity incentive plan compensation” in periods presented; CEO bonuses are reported in “Bonus” column .
Performance Compensation
Cash annual bonus framework and outcomes
| Year | Metric | Formula/Target | Actual | Payout Detail | Vesting |
|---|---|---|---|---|---|
| 2024 | CEO Cash Bonus | 10% of Bank net pre-tax profits, capped at 50% of base salary | $551,250 | Equals contract cap of 50% of $1,102,500 base salary | Paid annually |
| 2023 | CEO Cash Bonus | 10% of Bank net pre-tax profits, capped at 50% of base salary | $425,000 | One-time reduction of $126,250 requested by CEO from the agreement amount (would have been 50% of base) | Paid annually |
Equity incentives
- No stock awards (RSUs/PSUs) outstanding at 12/31/2024 .
- Company notes equity award timing practices (no MNPI timing) .
Equity Ownership & Alignment
Beneficial ownership (record date in 2025 proxy)
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Vito S. Pantilione | 348,294 | 2.86% | Includes 53,269 shares acquirable via options within 60 days |
Outstanding option awards (as of 12/31/2024)
| Tranche | Exercisable | Unexercisable | Exercise Price | Expiration |
|---|---|---|---|---|
| Grant A | 17,569 | — | $7.81 | Jan 19, 2026 |
| Grant B | 13,200 | — | $20.14 | Aug 22, 2028 |
| Grant C | 18,000 | 4,500 | $12.29 | Apr 24, 2030 |
Insider trading and vesting/expiration pressure
- 07/31/2025: Purchased 1,100 shares (500 direct, 600 indirect at $20.89); direct holdings reported 227,760 after transaction .
- 09/18/2025: Exercised 8,569 options at $7.81, direct holdings 236,329 after .
- 09/29/2025: Reported a same-day G-coded disposition and acquisition of 1,200 shares at $21.74; direct holdings 235,129 after; options disclosed 13,200 (2028) and 22,500 (2030) .
- Over past 5 years: 24 buys, 0 sells (Form 4 data aggregation) .
Pledging and hedging
- Company has not adopted anti-hedging/anti-pledging policies; such transactions are not prohibited by policy .
- No pledge disclosure for Mr. Pantilione in the beneficial ownership footnotes; another director (Dobson) disclosed pledged shares (50,000) .
Stock ownership guidelines
- No executive or director ownership guideline disclosure found in the 2025 proxy sections cited.
Employment Terms
| Term | Details |
|---|---|
| Base salary (2024) | $1,102,500 |
| Agreement term | 3-year term; auto-extends 1 year each January 1 unless notice given |
| Termination (without cause / good reason) | Continuation of salary plus annualized bonus through remaining term |
| Change-in-control (CIC) | Lump sum = 3.0x base salary + 3.0x average of three highest annual bonuses; subject to 280G cutback |
| Non-compete | 2 years post-termination; counties: Gloucester, Camden, Salem, Cumberland (NJ) |
| SERP | 50% of highest base salary for life upon retirement at/after age 60; survivor benefit to complete 10 years; lump sum option available; accrued liability $4.4M at 12/31/2024 |
Potential payments upon termination (as of last fiscal year-end)
| Scenario | Amount ($) |
|---|---|
| Voluntary Good Reason Termination | $5,133,750 |
| Normal Retirement (annual) | $573,300 |
| Not For Cause Termination | $5,133,750 |
| For Cause Termination | $0 |
| Change-in-Control Termination | $5,133,750 |
| Disability | $3,307,500 |
| Death | $3,507,500 |
Board Governance
- Roles: CEO and director; Chair role held by Daniel J. Dalton; Board explicitly separates CEO and Chair to enhance independence and oversight .
- Committee structure: Audit (Choate, Dalton, Dobson, Sheppard; Choate = Financial Expert), Compensation (Choate, Dalton, Dobson, Sheppard), Nominating (Choate, Dalton, Dobson, Infantolino); committees comprised of independent, non-employee directors .
- Director independence: All non-employee directors deemed independent under Nasdaq rules .
- Director fees for non-employee directors are cash-only; total board fees for 2024 were $1,099,549 .
Performance & Track Record (Pay vs. Performance disclosure)
| Year | PEO (Name) | SCT Total ($) | Compensation Actually Paid to PEO ($) | Value of $100 Investment (TSR) | Net Income ($) |
|---|---|---|---|---|---|
| 2022 | Vito S. Pantilione | $1,958,251 | $1,994,850 | 103 | $41,796,000 |
| 2023 | Vito S. Pantilione | $1,580,346 | $1,564,345 | 102 | $28,436,000 |
| 2024 | Vito S. Pantilione | $1,707,784 | $1,712,644 | 109 | $27,492,000 |
Notes:
- Company states it does not evaluate cumulative TSR as part of NEO compensation decisions; CEO’s annual cash bonus is formulaic (10% pre-tax profits, capped at 50% of salary) .
Related Party Transactions
- Aggregate outstanding principal balance of related party loans (officers/directors/affiliates) was $500,000 at 12/31/2024; terms comparable to market; no unfavorable features .
Board Service History and Committee Roles (Dual-role implications)
- Board tenure: Director since 2005; current term expires in 2026 .
- Dual-role risk mitigated by structural separation of CEO and Chair positions; key committees are independent and chaired by non-employee directors (Audit chair is an “Audit Committee Financial Expert”) .
- Independence: As CEO, he is not an independent director; board affirms independence for all non-employee directors .
Compensation Structure Analysis
- Cash-heavy mix: CEO compensation centered on base salary and cash bonus; no RSUs/PSUs outstanding at year-end 2024; limited option exposure compared to many peers .
- Formulaic bonus with hard cap: 10% of pre-tax profits capped at 50% of salary; in 2024 payout equaled contractual cap; in 2023 CEO voluntarily reduced bonus by $126,250 from agreement amount, signaling restraint .
- SERP and CIC richness: Lifetime SERP at 50% of highest base salary and 3x salary + 3x bonus CIC multiple (subject to 280G cutback) elevate realized pay in exit scenarios and increase deal breakage costs .
- Governance flag: No anti-hedging/anti-pledging policy; potential misalignment risk if hedging or pledging were to occur (no pledge disclosed for CEO) .
Investment Implications
- Alignment: Meaningful ownership (2.86% of class, including options exercisable within 60 days) combined with frequent insider purchases in 2025 indicates tangible skin-in-the-game; absence of sales is supportive for sentiment .
- Incentive design: Bonus is tied to bank-level pre-tax profits with a clear cap; lack of equity-based performance awards (e.g., PSUs) reduces multi-year TSR alignment but simplifies cash pay-for-performance linkage .
- Overhang/pressure: Option expirations (notably Jan 2026 at $7.81) and remaining tranches (2028, 2030) may drive periodic Form 4 activity; monitor exercises and any associated dispositions near maturities .
- Retention and M&A dynamics: Auto-renewing contract, robust CIC severance (3x salary + 3x bonus), two-year non-compete, and substantial SERP benefits lower near-term retention risk but raise potential acquisition-related costs and could influence bidder calculus .
- Governance risk: Lack of anti-hedging/anti-pledging policy and aggregate related-party lending (albeit modest) warrant ongoing monitoring from a governance and risk perspective .