Company: NECB
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-034190
Chunk: 21

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 21
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 financial metrics selected under the 2024 Annual Incentive Plan:

| 2024 Performance Goals(1)         
 Return on Average Assets          |     | Threshold   
 Parameter   
 (Dollars in 
 Millions)   |   1.97 | % |     | Target      
 Parameter   
 (Dollars in 
 Millions)   |   2.18 | % |     | Stretch     
 Parameter   
 (Dollars in 
 Millions)   |   2.40 | % |     | 2024 Actual 
 Performance 
 (Dollars in 
 Millions)   |   2.50 | % |
|:----------------------------------|:----|:------------|-------:|:--|:----|:------------|-------:|:--|:----|:------------|-------:|:--|:----|:------------|-------:|:--|
| Pre-Tax, Pre-Provision Net Income |     | $           | 52,937 |   |     | $           | 58,819 |   |     | $           | 64,701 |   |     | $           | 66,773 |   |
| Efficiency Ratio                  |     |             |  42.21 | % |     |             |  40.20 | % |     |             |  38.19 | % |     |             |  37.00 | % |
| Discretionary                     |     |             |      1 |   |     |             |      3 |   |     |             |      5 |   |     |             |      5 |   |

| (1) | Payouts earned for intermediate performance levels are determined using straight line interpolation. |

In order for the NEOs to be eligible to receive full payout under the plan, Non-Performing Loan (“NPL”)/Total Loans had to meet certain acceptable levels. To the extent that NPLs/Total Loans was greater than 3%, any earned award would be reduced by 30% and if NPLs/Total Loans was greater than 5%, all formulaic payouts would be eliminated and any payment under the plan would be discretionary. Non-performing loans to total loans at December 31, 2024 was 0.00%, resulting in no reduction to the calculated award. 15 For purposes of determining the level of achievement for each of the performance measures under the 2024 Annual Incentive Plan, the