Meridian Bancorp CEO Richard Gavegnano's 2019 pay slips 6% to $1.6M
Meridian Bancorp reports 2019 executive compensation
By ExecPay News
Published: May 8, 2020
Meridian Bancorp reported fiscal year 2019 executive compensation information on May 8, 2020.
In 2019, five executives at Meridian Bancorp received on average a compensation package of $702K, a 7% increase compared to previous year.
Average pay of disclosed executives at Meridian Bancorp
Richard J. Gavegnano, Chief Executive Officer, received $1.6M in total, which decreased by 6% compared to 2018. 58% of Gavegnano's compensation, or $905K, was in salary. Gavegnano also received $413K in bonus, $155K of change in pension value and nonqualified deferred compensation earnings, as well as $88K in other compensation.
For fiscal year 2019, the median employee pay was $57,094 at Meridian Bancorp. Therefore, the ratio of Richard J. Gavegnano's pay to the median employee pay was 27 to one.
John Migliozzi, Executive Vice President, Real Estate Lending, received a compensation package of $704K, which increased by 64% compared to previous year. 46% of the compensation package, or $321K, was in salary.
Frank P. Romano, Executive Vice President, Corporate Banking, earned $425K in 2019, a 8% increase compared to previous year.
Mark L. Abbate, Chief Financial Officer, received $420K in 2019, which increases by 5% compared to 2018.
Edward J. Merritt, Executive Vice President, Business Development and Community Reinvestment, earned $401K in 2019, a 5% increase 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 May 8, 2020.