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NorthEast Community Bancorp is asking stockholders to vote at its virtual annual meeting on May 21, 2026. The proxy covers election of four directors, approval of a new 2026 Equity Incentive Plan, and ratification of S.R. Snodgrass, P.C. as independent auditor.
The 2026 Equity Plan would add 185,000 shares to the equity pool, for a total of 204,335 shares available for awards such as options, restricted stock and RSUs, succeeding the 2022 plan. The filing also outlines board structure, committee responsibilities and detailed 2025 executive pay.
In 2025, CEO Kenneth A. Martinek received total compensation of $1,259,679, including a $463,213 annual incentive tied to metrics like return on average assets of 2.21% and an efficiency ratio of 40.70%, which exceeded stretch goals.
NorthEast Community Bancorp director Charles Michael Cirillo reported an open-market sale of 3,566 shares of Common Stock at $22.94 per share on March 12, 2026. After this transaction, he holds 5,805 shares directly, plus additional indirect holdings through an IRA and stock awards.
He also retains stock options covering 28,961 shares of Common Stock at an exercise price of $12.40 per share, expiring on September 30, 2032. These options and stock awards vest in approximately equal annual installments beginning September 30, 2023, under the company’s 2022 Equity Incentive Plan.
Northeast Community Bancorp, Inc. files its annual report outlining a community bank focused on construction and multifamily lending in New York and Massachusetts. The company had an aggregate market value of $284.5 million held by non-affiliates as of June 30, 2025 and 13,834,022 common shares outstanding as of March 11, 2026.
The bank’s loan book is concentrated in construction loans and multifamily/mixed-use properties, primarily in high-demand, “high absorption” communities in the New York City and Boston metro areas. At December 31, 2025, $1.6 billion, or 87.4%, of loans were secured by New York properties and $182.7 million, or 9.8%, by Massachusetts properties.
Construction commitments totaled about $1.8 billion, with $1.3 billion disbursed and $402.7 million undisbursed, and all construction loans were performing at year-end 2025. The bank funds growth through local deposits, wholesale deposits and borrowings, including $70.0 million of Federal Reserve Bank of New York borrowings, and reports being “well capitalized” under regulatory standards while still qualifying as an emerging growth company.
NorthEast Community Bancorp director John F. McKenzie reported an open-market sale of 3,000 shares of common stock on March 5, 2026 at an average price of $23.85 per share. After this sale, he directly holds 16,249 common shares.
He also has stock options on 25,961 shares held directly, and indirect common stock holdings of 9,700 shares by SEP-IRA, 3,900 shares by spouse, and 5,792 shares by stock award. Footnotes state that stock awards and stock options granted under the 2022 Equity Incentive Plan vest in five approximately equal annual installments beginning on September 30, 2023.
NorthEast Community Bancorp director Charles Michael Cirillo reported several equity transactions in company stock. On March 4, 2026, he exercised a stock option for 7,240 shares, described as a "Stock Option (right to buy)", leaving 28,961 stock options held directly after the exercise.
The exercise produced 7,240 shares of common stock at a stated price of $12.4000 per share, bringing his direct common stock holdings to 13,045 shares before tax withholding. To cover the exercise price or tax liability, 3,674 common shares were disposed of at $24.4300 per share, reducing his direct common stock position to 9,371 shares.
In addition to these direct holdings, Cirillo is shown with 10,000 common shares held indirectly "By IRA" and 5,792 common shares held indirectly "By Stock Award." Footnotes state that stock awards and stock options granted under the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five approximately equal annual installments commencing on September 30, 2023.
NorthEast Community Bancorp director John F. McKenzie exercised stock options for 3,000 shares of NECB common stock. The options, granted under the company’s 2022 Equity Incentive Plan, converted into 3,000 common shares at a price of $12.40 per share.
After these transactions, he directly owns 19,249 common shares and also has indirect ownership of 9,700 shares through a SEP-IRA, 3,900 shares held by his spouse, and 5,792 shares from a stock award that vests in five equal annual installments beginning September 30, 2023.
Lynette Winona Bennett has filed an initial ownership report on Form 3 as a director of NorthEast Community Bancorp, Inc. (NECB). The filing, dated for the event on 01/22/2026, states in the remarks that no securities are beneficially owned. The form is filed by one reporting person and includes a power of attorney as an exhibit.
Northeast Community Bancorp, Inc. filed a Form 8-K to furnish a press release announcing its financial results for the three months and year ended December 31, 2025. The press release is attached as Exhibit 99.1 and is treated as furnished rather than filed for Exchange Act purposes.