Business Context and Reporting Period
Company: Kearny Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 18, 2025
Reporting Period: Specific event date of June 18, 2025.
This filing reports a material amendment to the Supplemental Executive Retirement Plan (SERP) for the Company's President and Chief Executive Officer, Craig L. Montanaro.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a contractual amendment regarding executive compensation and does not contain financial statement data.
Material Changes
- SERP Amendment: On June 18, 2025, Kearny Bank (a wholly owned subsidiary) and Craig L. Montanaro amended the SERP.
- Benefit Status Change: Effective July 1, 2025, benefits under the plan will cease to be frozen and may increase.
- Participant Scope: The Executive is the sole participant in this specific plan.
Guidance, Outlook, and Risks
Management Commentary: The filing states that the description of the Amendment is not complete and is qualified in its entirety by reference to the full Amendment attached as Exhibit 10.1.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard disclosure that the executive compensation arrangement has been modified to allow for potential future benefit increases.
Guidance: No financial guidance or outlook is provided in this document.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment to Kearny Bank Supplemental Executive Retirement Plan) to understand the specific formula or conditions under which benefits may increase after July 1, 2025.
- Verify the total potential liability impact of unfreezing the SERP on the Company's future financial statements.
- Confirm if this amendment triggers any additional disclosure requirements under executive compensation rules (e.g., Item 402 of Regulation S-K).