ConnectOne Bancorp CEO Frank Sorrentino's 2020 pay rises 10% to $2.8M
ConnectOne Bancorp reports 2020 executive compensation
By ExecPay News
Published: April 14, 2021
ConnectOne Bancorp reported fiscal year 2020 executive compensation information on April 14, 2021.
In 2020, five executives at ConnectOne Bancorp received on average a compensation package of $1.3M, a 7% increase compared to previous year.
Average pay of disclosed executives at ConnectOne Bancorp
Frank Sorrentino III, Chief Executive Officer, received $2.8M in total, which increased by 10% compared to 2019. 36% of Sorrentino's compensation, or $1M, was in stock awards. Sorrentino also received $186K of change in pension value and nonqualified deferred compensation earnings, $773K in non-equity incentive plan, $825K in salary, as well as $33K in other compensation.
For fiscal year 2020, the median employee pay was $70,167 at ConnectOne Bancorp. Therefore, the ratio of Frank Sorrentino III's pay to the median employee pay was 41 to one.
William S. Burns, Chief Financial Officer, received a compensation package of $1.2M, which increased by 5% compared to previous year. 37% of the compensation package, or $430K, was in salary.
Elizabeth Magennis, Executive Vice President Bank President, earned $1.1M in 2020, a 8% increase compared to previous year.
Chris Ewing, Executive Vice President Chief Operations Officer, received $1M in 2020, which increases by 6% compared to 2019.
Michael McGover, First Senior Vice President Chief Credit Officer, earned $627K in 2020, a 4% decrease compared to previous year.
Related executives
Frank Sorrentino
ConnectOne Bancorp
Chief Executive Officer
William Burns
ConnectOne Bancorp
Chief Financial Officer
Elizabeth Magennis
ConnectOne Bancorp
Executive Vice President Bank President
Chris Ewing
ConnectOne Bancorp
Executive Vice President Chief Operations Officer
Michael McGover
ConnectOne Bancorp
First Senior Vice President Chief Credit Officer
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Source: SEC filing on April 14, 2021.