Meridian Bancorp CEO Richard Gavegnano's 2018 pay falls 55% to $1.7M
Meridian Bancorp reports 2018 executive compensation
By ExecPay News
Published: April 10, 2019
Meridian Bancorp reported fiscal year 2018 executive compensation information on April 10, 2019.
In 2018, five executives at Meridian Bancorp received on average a compensation package of $654K, a 45% decrease compared to previous year.
Average pay of disclosed executives at Meridian Bancorp
Richard J. Gavegnano, Chief Executive Officer, received $1.7M in total, which decreased by 55% compared to 2017. 51% of Gavegnano's compensation, or $845K, was in salary. Gavegnano also received $353K in bonus, $380K of change in pension value and nonqualified deferred compensation earnings, as well as $86K in other compensation.
For fiscal year 2018, the median employee pay was $74,356 at Meridian Bancorp. Therefore, the ratio of Richard J. Gavegnano's pay to the median employee pay was 22 to one.
John Migliozzi, Executive Vice President, Real Estate Lending, received a compensation package of $430K, which decreased by 26% compared to previous year. 69% of the compensation package, or $297K, was in salary.
Mark L. Abbate, Chief Financial Officer, earned $401K in 2018, a 29% decrease compared to previous year.
Frank P. Romano, Executive Vice President, Corporate Banking, received $393K in 2018, which decreases by 29% compared to 2017.
Edward J. Merritt, Executive Vice President, Business Development and Community Reinvestment, earned $382K in 2018, a 30% decrease compared to previous year.
Related executives
Richard Gavegnano
Meridian Bancorp
Chief Executive Officer
Edward Merritt
Meridian Bancorp
Executive Vice President, Business Development and Community Reinvestment
Mark Abbate
Meridian Bancorp
Chief Financial Officer
John Migliozzi
Meridian Bancorp
Executive Vice President, Real Estate Lending
Frank Romano
Meridian Bancorp
Executive Vice President, Corporate Banking
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Source: SEC filing on April 10, 2019.