Company: NECB
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001104659-25-034190
Chunk: 32

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 32
---
 a direct or indirect material interest. Under the policy, related persons consist of directors, director nominees, executive officers, persons, or entities known to us to be the beneficial owner of more than five percent of any outstanding class of the voting securities of the Company, or immediate family members or certain affiliated entities of any of the foregoing persons. Transactions covered by the policy consist of any financial transaction, arrangement or relationship or series of similar transactions, arrangements, or relationships, in which:

| ● | the aggregate amount involved will or may be expected to exceed $120,000 in any calendar year; |

| ● | the Company is, will, or may be expected to be a participant; and |

| ● | any related person has or will have a direct or indirect material interest. |

The policy excludes certain transactions, including:

| ● | any compensation paid to an executive officer of the Company if the Compensation Committee of the Board approved (or recommended that 
 the Board approve) such compensation;                                                                                                 |

| ● | any compensation paid to a director of the Company if the Board or an authorized committee of the Board approved such compensation; 
 and                                                                                                                                 |

| ● | any transaction with a related person involving consumer and investor financial products and services provided in the ordinary course    
 of the Company’s business and on substantially the same terms as those prevailing at the time for comparable services provided to        
 unrelated third parties or to the Company’s employees on a broad basis (and, in the case of loans, in compliance with the Sarbanes-Oxley 
 Act of 2002).                                                                                                                            |

Related person transactions will be approved or ratified by the Audit Committee. In determining whether to approve or ratify a related person transaction, the Audit Committee will consider all relevant factors, including:

| ● | whether the terms of the proposed transaction are at least as favorable to the Company as those that might be achieved with an unaffiliated 
 third party;                                                                                                                                |

| ● | the size of the transaction and the amount of consideration payable to the related person; |

| ● | the nature of the interest of the related person; |

| ● | whether the transaction may involve a conflict of interest; and |

| ● | whether the transaction involves the provision of goods and services to the Company that are available from unaffiliated third parties. |

23 A member of the Audit Committee who has an interest in the transaction will abstain from voting on approval of the transaction, but may, if so requested by the chair of the Audit Committee, participate in some or all