ISBC 2017 Form 10-K & 2018 Proxy Statement

56 Outstanding Equity Awards at December 31, 2017 The following table sets forth information with respect to outstanding equity awards as of December 31, 2017 for the Named Executive Officers. Option Awards Stock Awards Name Grant Date Number of Securities Underlying Unexercised Options (#) Exercisable Number of Securities Underlying Unexercised Options (#) (1) Unexercisable Option Exercise Price ($) Option Expiration Date (2) Number of Shares or Units of Stock That Have Not Vested (#) (1) Market Value of Shares or Units of Stock That Have Not Vested ($) (3) Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested (#) (4) Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) (3) Kevin Cummings 6/23/15 380,952 952,381 12.54 6/23/25 535,714 7,435,710 250,000 3,470,000 Domenick A. Cama 6/23/15 304,761 761,905 12.54 6/23/25 428,572 5,948,579 200,000 2,776,000 Richard S. Spengler 6/23/15 203,809 509,524 12.54 6/23/25 285,714 3,965,710 133,333 1,850,662 2/27/17 — — — — 60,000 832,800 — — Paul Kalamaras 6/23/15 203,809 509,524 12.54 6/23/25 285,714 3,965,710 133,333 1,850,662 3/27/17 — — — — 60,000 832,800 — — Sean Burke 6/23/15 179,047 447,619 12.54 6/23/25 250,000 3,470,000 116,667 1,619,338 2/27/17 — — — — 40,000 555,200 — — (1) Stock option and restricted stock awards generally vest over a seven-year period commencing on the first anniversary of the date granted. (2) Stock options generally expire if unexercised 10 years after the grant date. (3) Amounts shown are based on the fair market value of Investors Bancorp common stock on December 31, 2017 of $13.88. (4) Amounts shown represent the number of stock awards that may vest if performance goals are achieved over a three-year period 2015-2017 at Target level. Subsequent to December 31, 2017, it was determined that the performance criteria were achieved at 70% of target, resulting in 70% of the performance-based stock awards being earned and converting to time-vesting restricted stock. Option Exercises and Stock Vested in 2017 The following table provides information concerning stock option exercises and the vesting of stock awards for each Named Executive Officer during 2017. Option Awards Stock Awards Name Number of Shares Acquired on Exercise (#) Value Realized on Exercise ($) Number of Shares Acquired on Vesting (#) Value Realized on Vesting ($) Kevin Cummings — — 107,143 1,384,275 Domenick A. Cama — — 85,714 1,107,425 Richard S. Spengler — — 57,143 738,275 Paul Kalamaras — — 57,143 738,275 Sean Burke — — 50,000 646,000 PROXY STATEMENT