Business Context and Reporting Period
Company: OceanFirst Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: March 28, 2025
Principal Executive Offices: Red Bank, New Jersey
Reporting Period: This filing reports a specific corporate event occurring on March 28, 2025, rather than a financial reporting period.
Key Financial Metrics
This Form 8-K filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing is strictly administrative regarding executive compensation arrangements.
Material Changes
Executive Compensation Amendment:
- Parties: OceanFirst Bank, N.A. (subsidiary) and Christopher D. Maher (Chairman, President, and CEO).
- Action: Amended and restated the Supplemental Executive Retirement Account Agreement originally executed on June 13, 2013.
- Specific Change: Clarified the treatment of account balances in the event of termination due to disability. The agreement now mandates payment of the account balance as of the termination effective date plus the amount to be credited for the plan year of such event (unless already made).
- Other Changes: No other substantive changes were made to the original agreement.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or general management commentary regarding business strategy or market conditions.
Risks and Contingencies: No new risks or contingencies were disclosed in this filing.
Unusual Items: None reported.
Investor Verification Checklist
- Verify the terms of the Amended and Restated Supplemental Executive Retirement Account Agreement (Exhibit 10.1) to confirm the specific disability payout provisions.
- Confirm that no other executive compensation changes or leadership departures occurred concurrently with this filing.
- Note that this filing does not impact the company's reported financial position or liquidity as of the filing date.