Pathward Financial approved a $340,923 cash payment to former President Anthony Sharett, recognizing his fiscal 2026 annual incentive award even though his departure made him ineligible under the normal terms. Sharett left the company and its bank subsidiary on October 23, after remaining employed throughout the fiscal year’s performance period.
The payment is conditional on Sharett signing an acknowledgment.
- How the amount was determined: The award reflects Pathward’s performance against predetermined measures for the year ended September 30, 2026, along with an individual discretionary component.
- Why the committee approved it: The compensation committee cited Sharett’s service throughout the full performance period, his years with the company and bank, and his commitment to them.
- What happens next: Pathward intends to include the acknowledgment in its annual report if Sharett signs it on time.
The payment is a discretionary recognition of Sharett’s fiscal-year incentive, not an award he was otherwise eligible to receive after his departure.