Meridian Bancorp CEO Richard Gavegnano's 2020 pay jumps 49% to $2.3M
Meridian Bancorp reports 2020 executive compensation
By ExecPay News
Published: April 9, 2021
Meridian Bancorp reported fiscal year 2020 executive compensation information on April 9, 2021.
In 2020, six executives at Meridian Bancorp received on average a compensation package of $676K, a 4% decrease compared to previous year.
Average pay of disclosed executives at Meridian Bancorp
Richard J. Gavegnano, Chief Executive Officer, received $2.3M in total, which increased by 49% compared to 2019. 42% of Gavegnano's compensation, or $975K, was in salary. Gavegnano also received $300K in bonus, $969K of change in pension value and nonqualified deferred compensation earnings, as well as $83K in other compensation.
For fiscal year 2020, the median employee pay was $69,066 at Meridian Bancorp. Therefore, the ratio of Richard J. Gavegnano's pay to the median employee pay was 34 to one.
John Migliozzi, Executive Vice President, Real Estate Lending, received a compensation package of $445K, which decreased by 37% compared to previous year. 76% of the compensation package, or $338K, was in salary.
Frank P. Romano, Executive Vice President, Corporate Banking, earned $399K in 2020, a 6% decrease compared to previous year.
Edward J. Merritt, Executive Vice President, Business Development and Community Reinvestment, received $374K in 2020, which decreases by 7% compared to 2019.
Kenneth R. Fisher, Chief Financial Officer, earned $331K in 2020.
Mark L. Abbate, Chief Financial Officer, received $177K in 2020, which decreases by 58% compared to 2019.
Related executives
Richard Gavegnano
Meridian Bancorp
Chief Executive Officer
Edward Merritt
Meridian Bancorp
Executive Vice President, Business Development and Community Reinvestment
Kenneth Fisher
Meridian Bancorp
Chief Financial Officer
John Migliozzi
Meridian Bancorp
Executive Vice President, Real Estate Lending
Frank Romano
Meridian Bancorp
Executive Vice President, Corporate Banking
Mark Abbate
Meridian Bancorp
Chief Financial Officer
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Source: SEC filing on April 9, 2021.