Banking
Enterprise Bancorp, Inc. Executive Compensation (FY24)
EBIC · Executive and director compensation, fiscal 2022 to 2024
Chief executive, fiscal 2024 ◇ Steven Larochelle | Median of the other named officers $638,369 5 officers, excluding the chief executive | Latest say-on-pay support = May 6, 2025 |
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Data as of October 25, 2026Latest filing (8-K): May 7, 2025
7 filings cited on this page
Method: intel.velarion.ai/methodology
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198 figures on this page: 191 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
More on Enterprise Bancorp, Inc.
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2023 to fiscal 2024
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: John Clancy → Steven Larochelle
Say-on-pay support: 96.1% → 93.3% (2.8 points lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Enterprise Bancorp, Inc.'s chief executive and what were they paid?
Total compensation for Steven Larochelle, Chief Executive Officer of the Company and the Bank, came to $1,100,366 in fiscal 2024.
What was Enterprise Bancorp, Inc.'s say-on-pay result?
Shareholders supported the say-on-pay proposal with 93.3% of votes cast for or against in favor at the meeting held May 6, 2025 for fiscal 2024.
Which companies are in Enterprise Bancorp, Inc.'s peer group?
The disclosed peer group names Bar Harbor Bankshares, BCB Bancorp, Inc., Camden National Corporation, Chemung Financial Corporation and CNB Financial Corporation, among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
John Clancy Former Chief Executive Officer of the Company and the Bank | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
George Duncan Executive Chairman of the Company and the Bank | ◇ | — | ◇ | ◇ | ◇ | ◇ | ◇ | ◇ |
Stephen Management and Chief Operating Officer of the Bank | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
Joseph Lussier Treasurer and Chief Financial Officer of the Company and the Bank | ◇ | — | ◇ | ◇ | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
John Clancy Former Chief Executive Officer of the Company and the Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
George Duncan Executive Chairman of the Company and the Bank | ◇ | ◇ | ◇ | — | ◇ | ◇ | ◇ | ◇ |
Stephen Management and Chief Operating Officer of the Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Lussier Treasurer and Chief Financial Officer of the Company and the Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Steven Larochelle Chief Executive Officer of the Company and the Bank | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
George Duncan Executive Chairman of the Company and the Bank | ◇ | — | ◇ | — | ◇ | ◇ | ◇ | ◇ |
John Clancy Former Chief Executive Officer of the Company and the Bank Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Stephen Management and Chief Operating Officer of the Bank | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Brian Bullock Chief Commercial Lending Officer | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Lussier Treasurer and Chief Financial Officer of the Company and the Bank | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2024
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Brian H. Bullock | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| George L. Duncan | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| John P. Clancy Jr. | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Joseph R. Lussier | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Stephen J. Irish | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Steven R. Larochelle | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
| Steven R. Larochelle | OPTION | ◇ | — | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2024 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Brian Bullock | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Steven Larochelle | RSU | ◇ | = | — | — |
| Option | ◇ | — | ◇ | 3/14/2032 | |
| Option | ◇ | — | ◇ | 3/15/2031 |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2024
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
James F. Conway III Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Carol L. Reid | ◇ | ◇ | — | — | — | — | ◇ |
Carole A. Cowan | ◇ | ◇ | — | — | — | — | ◇ |
Gino J. Baroni | ◇ | ◇ | — | — | — | — | ◇ |
Joseph C. Lerner | ◇ | ◇ | — | — | — | — | ◇ |
Normand E. Deschene | ◇ | ◇ | — | — | — | — | ◇ |
Michael T. Putziger | ◇ | ◇ | — | — | — | — | ◇ |
Jacqueline F. Moloney | ◇ | ◇ | — | — | — | — | ◇ |
John A. Koutsos | ◇ | ◇ | — | — | — | — | ◇ |
Mary Jane King | ◇ | ◇ | — | — | — | — | ◇ |
Nickolas Stavropoulos | ◇ | ◇ | — | — | — | — | ◇ |
Kenneth S. Ansin | ◇ | ◇ | — | — | — | — | ◇ |
John T. Grady Jr | ◇ | ◇ | — | — | — | — | ◇ |
John R. Clementi | ◇ | ◇ | — | — | — | — | ◇ |
Shelagh E. Mahoney | ◇ | — | — | — | — | — | ◇ |
Richard W. Main, Steven R. Larochelle and George L. Duncan served on the board in fiscal 2024 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
| Board meeting fee | ◇ |
Equity is delivered as restricted stock units.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2024
- Bar Harbor Bankshares BHB
- BCB Bancorp, Inc. BCBP
- Camden National Corporation CAC
- Chemung Financial Corporation CHMG
- CNB Financial Corporation CCNE
- Financial Institutions, Inc. FISI
- HarborOne Bancorp, Inc. HONE
- Mid Penn Bancorp, Inc. MPB
- Orrstown Financial Services, Inc. ORRF
- Peapack-Gladstone Financial Corporation PGC
- Peoples Financial Services Corporation PFIS
- The First Bancorp, Inc. FBNC
- The First of Long Island Corporation FLIC
- Univest Financial Corporation UVSP
- Washington Trust Bancorp, Inc. WASH
- Western New England Bancorp, Inc. WNEB
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2024 | May 6, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 7, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 2, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 3, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 4, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 5, 2020 | = | ◇ | ◇ | ◇ |
Ask our research desk — $99, 24h, every figure cited to its filing.
Sample answer — “What is the CEO’s total compensation?”
- Steven Larochelle (Chief Executive Officer of the Company and the Bank), FY2024 total compensation $1,100,366 (base salary $484,799) [exec_comp, SEC accession 0001018399-25-000025, filed 2025-04-01]What this page does not include
Everything above is a fact Enterprise Bancorp, Inc. disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Enterprise Bancorp, Inc. sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
198 figures on this page: 191 cited to the filing that reported them, 7 calculated from figures it prints.
191 cited to the filing
7 calculated from the filing
Documents cited
- 0001018399-25-0000611,779 31,678 1,587,420 2. To conduct a non-binding advisory vote to approve the Say on Pay Proposal.
- 0001018399-25-000025
- 0001018399-24-000043
- 0001018399-23-00004345 1,261,441 1,336,703 2. To conduct a non-binding advisory vote to approve the Say on Pay Proposal.
- 0001018399-22-00003068 1,514,499 1,359,540 2. To conduct a non-binding advisory vote to approve the Say on Pay Proposal.
- 0001018399-21-000047
- 0001018399-20-000036
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Velarion, “Enterprise Bancorp, Inc. executive compensation, FY2022–FY2024.” https://intel.velarion.ai/comp/EBIC (accessed 2026).
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The paid brief for Enterprise Bancorp, Inc.
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
7 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers Enterprise Bancorp, Inc. discloses
The companies named in EBIC's own disclosed peer group.
Bar Harbor BanksharesBCB Bancorp, Inc.Camden National CorporationChemung Financial CorporationCNB Financial CorporationFinancial Institutions, Inc.HarborOne Bancorp, Inc.Mid Penn Bancorp, Inc.Orrstown Financial Services, Inc.Peapack-Gladstone Financial CorporationPeoples Financial Services CorporationThe First Bancorp, Inc.The First of Long Island CorporationUnivest Financial CorporationWashington Trust Bancorp, Inc.Western New England Bancorp, Inc.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}