UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
(Exact Name of Registrant as Specified in its Charter)
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification Number |
(Address of principal executive offices)
(
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Title of each Class | Trading Symbol | Name of each exchange on which registered |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of Executive Officer
On March 28, 2024, HarborOne Bancorp, Inc. (the “Company”) issued a press release announcing that Stephen W. Finocchio is joining the Company to serve as Executive Vice President and Chief Financial Officer of the Company and HarborOne Bank (the “Bank”), effective as of April 15, 2024. Mr. Finocchio will also serve as the Company’s Principal Accounting Officer.
Mr. Finocchio, age 55, previously served as the Senior Managing Director, Treasurer for Berkshire Hills Bancorp from 2022 to 2024 and as Senior Vice President, Treasurer from 2021 to 2022. Mr. Finocchio held various roles at State Street Corporation from 2010 to 2021, including Managing Director - Global Treasury and Capital Management from 2019 to 2021, Managing Director - Global Treasury, Head of Quantitative Analytics from 2015 to 2019, and Senior Consultant - Global Corporate Strategy from 2010 to 2015. Earlier in his career, he served as Managing Director - Structured Finance for State Street Global Markets, LLC from 1995 to 2010. Mr. Finocchio received a B.B.A. in Finance from the University of Massachusetts’ Isenberg School of Business and an M.B.A. from New York University’s Stern School of Business. He is also a Chartered Financial Analyst.
In addition, the Company intends to enter into a Change in Control Agreement with Mr. Finocchio (the “CIC Agreement”), whereby if Mr. Finocchio’s employment is involuntarily terminated for reasons other than for cause, disability or death (as such term is defined in the CIC Agreement), or if he voluntarily resigns for “good reason” (as such term is defined in the CIC Agreement) on or within 12 months after the effective date of a change in control of the Company, Mr. Finocchio would be entitled to a severance payment equal to his base salary and average three-year incentive, payable in a lump sum within ten days following the date of termination.
Mr. Finocchio will be paid an annual base salary of $400,000 and will be eligible to receive bonus and equity incentives under the Company’s incentive plans. In addition, Mr. Finocchio will be awarded 17,500 time-based restricted stock units pursuant to the Company’s 2020 Equity Incentive Plan. Mr. Finocchio also will be eligible to participate in the Company’s benefit programs as may be offered from time to time to other similarly situated employees.
Mr. Finocchio is not related by blood, marriage, or adoption to any of the Company’s directors or other executive officers. There are no related person transactions between the Company or the Bank, on the one hand, and Mr. Finocchio or his immediate family members, on the other hand, reportable under Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934.
A copy of the press release announcing the appointment of Mr. Finocchio as Executive Vice President and Chief Financial Officer is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
(d)Exhibit
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99.1 |
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104 | Cover Page Interactive Data File (formatted as inline XBRL) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunder duly authorized.
HARBORONE BANCORP, INC. | |||
By: | /s/ Joseph F. Casey | ||
Name: | Joseph F. Casey | ||
Title: | President and Chief Executive Officer | ||
Date: March 28, 2024 |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Media Contact:
Jennifer White
jlwhite@harborone.com
508-895-1338
HarborOne Bancorp, Inc. names Stephen W. Finocchio as Executive Vice President and Chief Financial Officer
(Brockton, MA) – March 28, 2024– HarborOne Bancorp, Inc. today announced the appointment of Stephen W. Finocchio as Executive Vice President and Chief Financial Officer, HarborOne Bancorp, Inc. and HarborOne Bank. Finocchio will oversee all Finance areas, including Accounting, Reporting, Treasury, and Investor Relations.
Finocchio joins HarborOne Bank with over 20 years of experience in treasury, capital management, and strategic planning, with particular focus on leading strategic and innovative initiatives in financial services and banking.
“Stephen’s deep experience in driving growth and innovation in large financial institutions brings a new perspective and skill set in helping HarborOne meet its growth aspirations,” said Joseph F. Casey, President and CEO of HarborOne Bancorp, Inc. and HarborOne Bank. “We greatly look forward to having him join our leadership team.”
Mr. Finocchio previously served as the Senior Managing Director, Treasurer for Berkshire Hills Bancorp from 2022 to 2024 and as Senior Vice President, Treasurer from 2021 to
2022. Mr. Finocchio held various roles at State Street Corporation from 2010 to 2021, including Managing Director - Global Treasury and Capital Management from 2019 to 2021, Managing Director - Global Treasury, Head of Quantitative Analytics from 2015 to 2019, and Senior Consultant - Global Corporate Strategy from 2010 to 2015. Earlier in his career, he served as Managing Director - Structured Finance for State Street Global Markets, LLC from 1995 to 2010. Mr. Finocchio received a B.B.A. in Finance from the University of Massachusetts’ Isenberg School of Business and an M.B.A. from New York University’s Stern School of Business. He is also a Chartered Financial Analyst.
About HarborOne Bancorp, Inc.
HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered trust company. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 30 full-service branches located in Massachusetts and Rhode Island, and a commercial lending office in each of Boston, Massachusetts and Providence, Rhode Island. HarborOne Bank also provides a range of educational resources through “HarborOne U,” with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states.
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Document and Entity Information |
Mar. 28, 2024 |
---|---|
Document and Entity Information [Abstract] | |
Document Type | 8-K |
Document Period End Date | Mar. 28, 2024 |
Entity Registrant Name | HarborOne Bancorp, Inc. |
Entity Incorporation, State or Country Code | MA |
Entity File Number | 001-38955 |
Entity Tax Identification Number | 81-1607465 |
Entity Address, Address Line One | 770 Oak Street |
Entity Address, City or Town | Brockton |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02301 |
City Area Code | 508 |
Local Phone Number | 895-1000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.01 par value |
Trading Symbol | HONE |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001769617 |
Amendment Flag | false |
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