Business Context and Reporting Period
This Form 8-K is a current report filed by OceanFirst Financial Corp. on August 10, 2012. The filing addresses corporate governance matters specifically regarding the extension of employment and change in control agreements for key executives.
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 personnel contract extensions and contains no financial performance data.
Material Changes
The material change reported is the effective extension of executive agreements on August 10, 2012:
- Michael Fitzpatrick (Executive Vice President and Chief Financial Officer): One-year extension to Employment Agreements with the Company and OceanFirst Bank. The new expiration date is July 31, 2015.
- Joseph R. Iantosca (First Senior Vice President and Chief Administrative Officer): One-year extension to Change in Control Agreement. The new expiration date is July 31, 2014.
- Joseph J. Lebel III (First Senior Vice President and Chief Lending Officer): One-year extension to Change in Control Agreement. The new expiration date is July 31, 2014.
Other than these term extensions, the agreements remain unchanged and in full force.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on future performance, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the specific terms and compensation details within the extended Employment Agreements for Michael Fitzpatrick.
- Confirm the specific severance or change in control provisions for Joseph R. Iantosca and Joseph J. Lebel III.
- Review prior filings to understand the original terms of these agreements before the August 2012 extensions.