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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Securities and Exchange Commission Regulation S-K, we are providing the following information about the relationship between “compensation actually paid” to our Principal Executive Officer (“PEO”) and to our Non-PEO NEOs and certain financial performance of Ponce Financial Group, Inc. Compensation actually paid, as determined under Securities and Exchange Commission requirements, does not reflect the actual amount of compensation earned by or paid to our executive officers during a covered year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

Fixed $100

 

 

 

 

 

 

 

 

 

 

 

 

Summary

 

 

Average

 

 

Investment

 

 

 

 

 

 

Summary

 

 

 

 

 

Compensation

 

 

Compensation

 

 

Based On

 

 

 

 

 

 

Compensation

 

 

Compensation

 

 

Table Total for

 

 

Actually Paid

 

 

Total

 

 

 

 

 

 

Table Total for

 

 

Actually Paid

 

 

Non-PEO

 

 

to Non-PEO

 

 

Shareholder

 

 

Net Income

 

Year

 

PEO ($)(1)

 

 

to PEO ($)(3)

 

 

NEOs ($)(2)

 

 

NEOs ($)(2)

 

 

Return ($)

 

 

(Loss) ($)

 

2023

 

 

3,664,707

 

 

 

3,830,041

 

 

 

2,241,806

 

 

 

2,333,890

 

 

 

129.61

 

 

 

3,352,370

 

2022

 

 

1,318,076

 

 

 

1,308,266

 

 

 

830,606

 

 

 

837,115

 

 

 

123.77

 

 

 

(30,000,618

)

2021

 

 

1,190,649

 

 

 

1,629,394

 

 

 

754,417

 

 

 

1,041,478

 

 

 

137.98

 

 

 

25,414,668

 

 

(1) The PEO for each of 2023 and 2022 is Mr. Naudon.

(2) The non-PEO named executive officers for 2023 are Mr. Tsavaris and Mr. Vaccaro. The non-PEO named executive officers for 2022 and 2021 are Mr. Tsavaris and Mr. Frank Perez.

(3) The dollar amounts reported represent the "compensation actually paid," or CAP, to the PEO and the Non-PEO, NEOs, respectively as computed in accordance with Item 402(v) of Securities and Exchange Commission Regulation S-K The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or the Non-PEO NEOs. Equity values as of each measurement date were determined using valuation assumptions and methodologies that are generally consistent with those used to estimate fair value at grant in accordance with FASB ASC Topic 718.

 

Compensation actually paid for each of the years presented in the table, as calculated in accordance with Securities and Exchange Commission regulations and presented in the Summary Compensation Table (“SCT”), was as follows:

 

 

2023

 

 

 

 

 

 

Average Non-

 

 

 

PEO

 

 

PEO NEO

 

Total compensation as reported in SCT

 

$

3,664,707

 

 

$

2,241,806

 

Fair value of equity awards granted during fiscal year

 

 

(2,492,622

)

 

 

(1,442,786

)

Fair value of equity compensation granted in current year at year end

 

 

2,571,126

 

 

 

1,488,058

 

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

 

 

95,437

 

 

 

55,419

 

Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year

 

 

(8,606

)

 

 

(8,606

)

Compensation Actually Paid

 

$

3,830,041

 

 

$

2,333,890

 

 

For 2022 to 2023, the compensation actually paid to our PEO and the average of the compensation actually paid to the other Non-PEO NEOs increased by 191% and 177%, respectively, compared to a 5% increase in our TSR and a 111% increase in net income over the same time horizon.

   
Named Executive Officers, Footnote The non-PEO named executive officers for 2023 are Mr. Tsavaris and Mr. Vaccaro. The non-PEO named executive officers for 2022 and 2021 are Mr. Tsavaris and Mr. Frank Perez.    
PEO Total Compensation Amount $ 3,664,707 $ 1,318,076 $ 1,190,649
PEO Actually Paid Compensation Amount $ 3,830,041 1,308,266 1,629,394
Adjustment To PEO Compensation, Footnote

(3) The dollar amounts reported represent the "compensation actually paid," or CAP, to the PEO and the Non-PEO, NEOs, respectively as computed in accordance with Item 402(v) of Securities and Exchange Commission Regulation S-K The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or the Non-PEO NEOs. Equity values as of each measurement date were determined using valuation assumptions and methodologies that are generally consistent with those used to estimate fair value at grant in accordance with FASB ASC Topic 718.

 

Compensation actually paid for each of the years presented in the table, as calculated in accordance with Securities and Exchange Commission regulations and presented in the Summary Compensation Table (“SCT”), was as follows:

 

 

2023

 

 

 

 

 

 

Average Non-

 

 

 

PEO

 

 

PEO NEO

 

Total compensation as reported in SCT

 

$

3,664,707

 

 

$

2,241,806

 

Fair value of equity awards granted during fiscal year

 

 

(2,492,622

)

 

 

(1,442,786

)

Fair value of equity compensation granted in current year at year end

 

 

2,571,126

 

 

 

1,488,058

 

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

 

 

95,437

 

 

 

55,419

 

Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year

 

 

(8,606

)

 

 

(8,606

)

Compensation Actually Paid

 

$

3,830,041

 

 

$

2,333,890

 

   
Non-PEO NEO Average Total Compensation Amount $ 2,241,806 830,606 754,417
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,333,890 837,115 1,041,478
Adjustment to Non-PEO NEO Compensation Footnote

(3) The dollar amounts reported represent the "compensation actually paid," or CAP, to the PEO and the Non-PEO, NEOs, respectively as computed in accordance with Item 402(v) of Securities and Exchange Commission Regulation S-K The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or the Non-PEO NEOs. Equity values as of each measurement date were determined using valuation assumptions and methodologies that are generally consistent with those used to estimate fair value at grant in accordance with FASB ASC Topic 718.

 

Compensation actually paid for each of the years presented in the table, as calculated in accordance with Securities and Exchange Commission regulations and presented in the Summary Compensation Table (“SCT”), was as follows:

 

 

2023

 

 

 

 

 

 

Average Non-

 

 

 

PEO

 

 

PEO NEO

 

Total compensation as reported in SCT

 

$

3,664,707

 

 

$

2,241,806

 

Fair value of equity awards granted during fiscal year

 

 

(2,492,622

)

 

 

(1,442,786

)

Fair value of equity compensation granted in current year at year end

 

 

2,571,126

 

 

 

1,488,058

 

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

 

 

95,437

 

 

 

55,419

 

Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year

 

 

(8,606

)

 

 

(8,606

)

Compensation Actually Paid

 

$

3,830,041

 

 

$

2,333,890

 

   
Total Shareholder Return Amount $ 129.61 123.77 137.98
Net Income (Loss) $ 3,352,370 $ (30,000,618) $ 25,414,668
PEO Name Mr. Naudon Mr. Naudon  
PEO | Fair Value Of Equity Awards Granted During Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (2,492,622)    
PEO | Fair Value Of Equity Compensation Granted In Current Year At Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,571,126    
PEO | Change In Fair Value From End Of Prior Fiscal Year To End Of Current Fiscal Year For Awards Made In Prior Fiscal Years That Were Unvested At End Of Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 95,437    
PEO | Change In Fair Value From End Of Prior Fiscal Year To Vesting Date For Awards Made In Prior Fiscal Years That Vested During Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (8,606)    
Non-PEO NEO | Fair Value Of Equity Awards Granted During Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,442,786)    
Non-PEO NEO | Fair Value Of Equity Compensation Granted In Current Year At Year End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,488,058    
Non-PEO NEO | Change In Fair Value From End Of Prior Fiscal Year To End Of Current Fiscal Year For Awards Made In Prior Fiscal Years That Were Unvested At End Of Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 55,419    
Non-PEO NEO | Change In Fair Value From End Of Prior Fiscal Year To Vesting Date For Awards Made In Prior Fiscal Years That Vested During Current Fiscal Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (8,606)