ISBC 2017 Form 10-K & 2018 Proxy Statement

61 separation from service. Such deferred compensation will be payable in a lump sum, unless the participant has elected payment in monthly installments over a period of up to ten years. At December 31, 2017, there were no participants in the Investors Bank Deferred Directors Fee Plan. Investors Bancorp maintains the Investors Bancorp, Inc. Deferred Directors Fee Plan. Each non-employee member of the Board of Directors of Investors Bancorp is eligible to participate in the plan and has the right to elect to defer the receipt of all or any part of the director fees earned as a member of the Board of Directors of Investors Bancorp. Compensation deferred under the plan and interest (at a rate equal to one and one-half percent below the Wall Street Journal prime rate) thereon is payable upon the earlier of the participant’s death, disability or separation from service. Such deferred compensation will be payable in a lump sum, unless the participant has elected payment in monthly installments over a period of up to ten years. At December 31, 2017, there were no participants in the Investors Bancorp Inc. Deferred Directors Fee Plan. Split Dollar Life Insurance Agreements Mr. Albanese, Mr. Bone and Ms. Siekerka are each parties to individual split dollar life insurance agreements with Roma Bank, which were assumed by Investors Bank on December 6, 2013 in connection with the merger between Investors Bancorp and Roma Financial Corporation. Investors Bank owns a life insurance policy on the lives of Messrs. Albanese, Bone and Ms. Siekerka. Under the agreement, upon the death of the director, the proceeds of the policy are divided between the director’s beneficiary, who is entitled to $100,000 on the director’s death, and Investors Bank, which is entitled to the remainder of the death benefit. The director has the right to designate the beneficiary who will receive his or her share of the proceeds payable upon death. Summary of Directors’ Compensation The following table sets forth for the year ended December 31, 2017 certain information as to total compensation paid to non-employee directors. Directors’ Compensation Table Name Investors Bancorp Fees Earned or Paid in Cash ($) Investors Bank Fees Earned or Paid in Cash ($) Stock Awards ($) (1) Option Awards ($) (2) Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) All Other Compensation ($) (3) Total ($) Robert C. Albanese 74,000 73,200 — — — 451 147,651 Dennis M. Bone 66,500 73,200 — — — 341 140,041 Doreen R. Byrnes 81,500 73,200 — — — 12,751 167,451 Peter H. Carlin (4) 25,470 54,900 — — — — 80,370 Robert M. Cashill 48,000 146,400 — — — 7,611 202,011 William V. Cosgrove 71,500 73,200 — — — 28,548 173,248 Brian D. Dittenhafer 71,500 73,200 — — — 17,252 161,952 James J. Garibaldi 34,000 73,200 — — — — 107,200 Michele N. Siekerka 56,500 73,200 — — — 319 130,019 James H. Ward III 81,500 73,200 — — — — 154,700 (1) Messrs. Albanese, Bone, Cashill, Cosgrove, Dittenhafer, Garibaldi and Ward and Mses. Byrnes and Siekerka had unvested stock awards of 60,000, 60,000, 50,000, 60,000, 50,000, 60,000, 60,000, 60,000 and 60,000, respectively, at December 31, 2017. All unvested stock awards were granted June 23, 2015 under the 2015 Equity Incentive Plan. PROXY STATEMENT