Edward O. Handy III is the CEO and Chairman of Washington Trust Bancorp, where he has been steering the ship since March 2018. His journey in banking began long before that, starting with extensive experience at Citizens Financial Group, where...

Edward O. Handy III is the CEO and Chairman of Washington Trust Bancorp, where he has been steering the ship since March 2018. His journey in banking began long before that, starting with extensive experience at Citizens Financial Group, where he held various leadership roles, including President of Citizens Bank in Rhode Island and Connecticut. Handy is known for his strong background in finance and commercial lending, bringing valuable insights to his current role. Under his leadership, Washington Trust has continued to focus on growth and innovation. Handy emphasizes a pay-for-performance structure, aligning executive compensation with the company's success and shareholder interests. In 2023, he earned a total compensation of approximately $1.34 million, reflecting a balance of salary, bonuses, and stock awards. Off the clock, he earned his bachelor’s degree from the University of Rhode Island, building a foundation for his impressive career. Handy is also involved in promoting community and corporate responsibility, showing a commitment to social values and environmental issues.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Washington Trust Bancorp CEOs

W

Edward O. Handy III

CEO of Washington Trust Bancorp

Education

Bachelor's degree from the University of Rhode Island.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1959 - 66 years ago

CEO of Washington Trust Bancorp for

7 years 1 month (Mar 2018 - Present)

Previous Experience

President of Citizens Bank, Rhode Island and Connecticut; Executive Vice President, Head of Commercial Real Estate at Citizens Financial Group.

Rivals

Competitors/colleagues of Edward O. Handy III

F

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

F

Mark K. Hardwick

CEO of First Merchants Corporation

2023 Compensation

Stock

$611.04K

Salary

$728.00K

Bonus

$369.81K

Other

$78.87K

Total Holdings

$128.69K

C

Frank S. Sorrentino III

Founder and CEO of Center Bancorp

2023 Compensation

Stock

$1.63M

Salary

$945.00K

Bonus

$878.90K

Other

$182.00K

Total Holdings

$19.33M

P

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

I

Gavin A. Mohr

CEO of Independent Bank Corporation

2023 Compensation

Stock

$65.89K

Salary

$302.00K

Bonus

$70.15K

Other

$45.98K

Total Holdings

$639.88K

P

George M. Pereira

CEO of Pacific Premier Bancorp

2022 Compensation

Stock

$2.05M

Salary

$950.00K

Bonus

$522.50K

Other

$0.00

Total Holdings

$185.07K

Holdings

See how much did Edward O. Handy III make over time.

Edward Handy owns around 15,370 shares of Washington Trust Bancorp, originally valued at approximately $508,000. His holdings reflect his vested interest in the company’s growth and performance. Over the years, Handy's stock was significantly more valuable, indicating fluctuations in the...

Edward Handy owns around 15,370 shares of Washington Trust Bancorp, originally valued at approximately $508,000. His holdings reflect his vested interest in the company’s growth and performance. Over the years, Handy's stock was significantly more valuable, indicating fluctuations in the market. His stock held notable value, especially in 2022, when his total compensation was around $1.9 million, suggesting that his wealth trajectory was closely tied to the company's performance. Handy's holdings provide a glimpse into both his commitment to the company and his potential financial outcomes based on stock performance.

Insider Trading

See recent insider trades of Edward O. Handy III.

No insider trades found for this CEO.

Compensation History

See how much did Edward O. Handy III make over time.

In 2023, Edward O. Handy III had a total compensation package worth approximately $1.34 million. This includes his salary of $749,231, a bonus of around $112,385 based on performance, and stock awards worth $477,764 from previous grants. His compensation strategy aligns closely with the company's performance metrics, like net income and return on equity. Handy's pay structure aims to attract and retain top talent while ensuring that executive pay is tied to the company's success. This principle has been a consistent theme in his tenure, guiding the organization towards achieving its growth objectives and enhancing shareholder value.

Year

2023

Total Compensation

$1.46M

Salary

$749.23K

Board Justification

The compensation philosophy emphasizes pay for performance, aligning executive compensation with the Corporation's performance and shareholder interests, while ensuring competitive compensation to attract and retain talent.

Bonus

$112.39K

Board Justification

Based on individual performance results, Mr. Handy received a bonus payment of $112,385, which is 30% of the target for the Annual Performance Plan.

Other

$119.82K

Board Justification

Other compensation includes life and disability insurance premiums, cash in lieu of benefits, employer contributions to the 401(k) plan, and other perquisites.

Restricted Stock

$477.76K(12.62K performance share units)

Board Justification

Mr. Handy's stock awards that vested in 2023 were based on performance share units granted in prior years, with a total of 12,623 shares vested during the year.

Performance Metrics

The performance metrics for determining Mr. Handy's compensation included net income, fully diluted earnings per share (EPS), and return on equity (ROE).

Other Washington Trust Bancorp CEOs

Here are other CEOs of Washington Trust Bancorp

Joseph J. MarcAurele

Ex-CEO of Washington Trust Bancorp

March 2012 - March 2018