United Financial Shareholders Approve Executive Compensation
GLASTONBURY — United Financial Bancorp Inc., the holding company for United Bank, announced that an overwhelming majority of its shareholders voted in favor of key proposals presented at its 2014 annual meeting held on Aug. 5, including the executive compensation plan and the re-election of three key United Financial Board members.
The proposal to ratify its executive-compensation plan, or say-on-pay, received 93% of the vote by shareholders. The company’s executive-compensation plan is market-based, tied to performance and aligned with shareholders’ interests. They also voted overwhelmingly (94%) to re-elect three members of the board of directors to four-year terms: William Crawford IV, CEO of United Financial Bancorp Inc. and United Bank; Michael Crowley; and Raymond Lefurge Jr., vice chairman of the board.
Since the proposals required only 50% of shares outstanding to vote in favor of the proposals to pass, both vote counts underscored the tremendous support shareholders have in the company, its leadership team, and bank employees. In addition to executive compensation and re-election of board members, a proposal to approve the appointment of Wolf & Co., P.C. as United’s independent auditor received 98% shareholder approval.