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...

Current Market Cap

$628.59M

Number of Employees

665

Total Compensation

2019 - 2023

Trending down by -17.73% last year
Showing total compensation for the last 2019 - 2023

Stock

Up by 1.95% last year

Salary

Up by 5.64% last year

Bonus

Down by -76.59% last year

Other

Up by 3.51% last year

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).

SEC Filing

From March 12, 2024

Edward O. Handy III

CEO of Washington Trust Bancorp

W

Education

Bachelor's degree from the University of Rhode Island.

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1959 - 65 years ago

Is Founder?

No

Current Tenure

6 years 8 months (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.