Sundar PichaiSundar Pichai earned $164M in 2023

Frank S. Sorrentino III is the CEO of ConnectOne Bancorp Inc., a role he has held since the company changed its name from Center Bancorp in 2014. With a background in finance, Sorrentino has been a driving force behind the...

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Frank S. Sorrentino III

Founder and CEO of Center Bancorp

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1962 - 63 years ago

CEO of Center Bancorp for

10 years 9 months (Jul 2014 - Present)

Previous Experience

Chairman, President and Chief Executive Officer of Legacy ConnectOne

Holdings

See how much did Frank S. Sorrentino III make over time.

Frank Sorrentino III has had significant fluctuations in his net worth due to his holdings in ConnectOne Bancorp. In late 2019, his holdings peaked at around $17.63 million. By 2022, this value increased, reaching approximately $26.55 million, showcasing the bank’s...

Total Stock Sold

$2.58M

CNOB

$2.58M

95,981 CNOB shares

What if they kept their stock?

If Frank S. Sorrentino III didn't sell their stock, today they would have:
Extra CNOB95,981 shares worth $1.35M.
This is -47.56% and $1.23M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Frank S. Sorrentino III.

CNOB

52,262 shares

CNOB

Mar 19, 2025

Received

CNOB

28,761 shares

CNOB

Mar 22, 2024

Received

CNOB

24,515 shares

CNOB

Mar 20, 2024

Received

CNOB

106,863 shares

CNOB

Mar 20, 2023

Received

CNOB

47,168 shares

CNOB

Mar 21, 2022

Received

CNOB

$1.02M

CNOB at $34.12/share

Nov 2, 2021

Sale

CNOB

34,783 shares

CNOB

Mar 15, 2021

Received

CNOB

75,624 shares

CNOB

Mar 15, 2020

Received

CNOB

$114.90K

CNOB at $21.93/share

Apr 29, 2019

Sale

CNOB

34,200 shares

CNOB

Mar 19, 2019

Received

Compensation History

See how much did Frank S. Sorrentino III make over time.

In 2023, Frank Sorrentino III’s total compensation was around $3.5 million, which included a base salary of $945,000, a bonus of nearly $878,897, and $1.48 million from stock awards. This pay structure emphasizes performance; his bonus reflects the achievement of key financial goals, with payouts linked directly to the company's success. In 2022, his total compensation was even higher, at about $4 million, which showed a robust reward for exceeding expectations in financial performance. The way his pay is structured illustrates a strong belief in tying executive rewards to the success of the company, ensuring that he is focused on creating value for shareholders over the long term. Notably, he participates in setting compensation for other executives but refrains from influencing his own pay decisions, adhering to best governance practices.

Year

2023

Total Compensation

$3.63M

Salary

$945.00K

Board Justification

The compensation philosophy emphasizes a pay-for-performance approach, aligning executive compensation with company performance and shareholder interests through rigorous stock ownership guidelines and equity-based long-term incentives.

Bonus

$878.90K

Board Justification

The annual incentive plan provides cash incentives based on attaining pre-established goals, with a target incentive opportunity of 95% of base salary for the CEO. The actual payout was determined to be 97.9% of target due to performance metrics achieved in 2023.

Other

$182.00K

Board Justification

This includes contributions to the nonqualified deferred compensation plan and other benefits such as a car allowance.

Restricted Stock

$1.63M(90.96K common stock)

Board Justification

The stock awards that vested in 2023 were based on performance units granted in prior years, with a total of 90,959 shares vesting during the year.

Performance Metrics

The performance metrics for determining the CEO's compensation included core return on assets, operating efficiency ratio, tangible book value per share, and pre-provision net revenue.

Other Center Bancorp CEOs

Here are other CEOs of Center Bancorp