Esquire Financial Holdings, Inc. Announces Annual Incentive Plan for 2025

Esquire Financial Holdings, Inc. (NASDAQ: ESQ) has put forth its Annual Incentive Plan for the year 2025, aiming to motivate and retain eligible employees through performance-based incentives. The plan, encompassing officers and key employees designated by the Committee, seeks to reward individuals for achieving specified performance goals and objectives.

Effective as of January 1, 2025, the Plan runs through December 31, 2025, with provisions for potential renewals for successive one-year periods, subject to approval by the Compensation Committee of the Board of Directors. Participants are selected annually by the Committee based on recommendations from the CEO, with incentives structured to provide cash-based compensation tied to predetermined performance metrics.

The Plan’s framework includes a “scorecard” structure comprising financial and non-financial metrics set by the Committee each year, with performance targets established for each category. Following the conclusion of each Plan Year, within 60 days, the Committee evaluates and certifies performance outcomes against the predefined goals, determining the incentive compensation payout for each Participant.

Administratively, the Plan mandates active participation from all eligible employees, outlining provisions for proration in case of Early Termination Events such as death, permanent disability, or retirement during the Plan Year. The Committee retains the discretion to adjust incentive compensation awards as it deems appropriate, with final decisions falling under its purview.

Awards under the Plan, calculated annually and paid in cash, are disbursed post the end of the Plan Year, ensuring compliance with applicable tax regulations. The Committee holds the authority to modify or terminate the Plan, with due notification to Participants, ensuring protection of their rights and entitlements within the Plan framework.

Esquire Financial’s commitment to ethical conduct underscores the importance of aligning Participant actions with established Company policies and codes of conduct. The Company affirms its adherence to legal and regulatory standards, emphasizing a culture of honesty and compliance with all governing laws.

In conclusion, the Esquire Financial Holdings, Inc. Annual Incentive Plan for 2025 outlines a structured mechanism to incentivize and reward eligible employees, fostering a performance-driven culture within the organization. By aligning compensation with predetermined goals and metrics, the Company aims to enhance motivation, attract talent, and drive sustainable growth.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Esquire Financial’s 8K filing here.

About Esquire Financial

Esquire Financial Holdings, Inc operates as the bank holding company for Esquire Bank, National Association that provides commercial banking products and services to legal industry and small businesses, and commercial and retail customers in the United States. The company offers checking, savings, money market, and time deposits, as well as certificates of deposit.