Sundar PichaiSundar Pichai earned $164M in 2023
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Thomas J. Murphy

Ex-CEO of Arrow Financial

Education

Bachelor's degree in business administration

Field of Expertise

Finance & Banking - Finance

Born

March 1, 1969 - 56 years ago

Economy Sector

Financial Services

Tenure

10 years 4 months (Dec 2012 - May 2023)

Previous Experience

Senior Executive Vice President and President of Glens Falls National Bank

Thomas J. Murphy has been a key player at Arrow Financial Corporation since 2004. He moved up the ranks, becoming CEO in 2013 after serving in multiple roles including President of the company and its main bank, Glens Falls National...

Year

2023

Total Compensation

$550.39K

Salary

$367.50K

Board Justification

The compensation philosophy is designed to attract and retain key executives, aligning their interests with those of shareholders while promoting long-term profitability within acceptable risk parameters.

Bonus

$162.50K

Board Justification

The bonus is based on the company's performance metrics and individual performance assessments, but Mr. Murphy was not entitled to a STIP award for 2023 due to his departure prior to the end of the year.

Other

$20.38K

Board Justification

Other compensation includes company contributions to the ESOP, life insurance premiums, and other perquisites.

Restricted Stock

$0.00(26.28K RSU)

Board Justification

All RSUs vested in full upon Mr. Murphy's departure on May 12, 2023, and will settle over a 10-year period starting in May 2024.

Performance Metrics

Performance metrics include financial performance measures such as Internal Net Operating Earnings, Return on Equity, Efficiency Ratio, Non-Performing Loans, and Net Charge-Offs.