New York Community Bancorp Pays Tax Bill on Stock Awards for CEO
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New York Community Bancorp Inc. Chief Executive Officer Joseph Ficalora didn’t have to pay taxes on $2.84 million in restricted stock he collected last year. His company picked up the tab.
The Westbury, New York-based lender paid $2.76 million to “assist the officer with tax obligations” on stock awards from previous years that vested in 2014, according to its April 24 proxy statement. The payment was intended to allow him to “maximize his retention of company stock,” the bank said in the filing.