How McDonald was paid
$1.3M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Jeffrey J. DeuelRetired Chief Executive Officer of Heritage Financial Corporation (effective May 2025) | $252,804 | $443,702 | $152,906 | $14,883 | $147,948 | $1,012,243 |
| Bryan D. McDonaldPresident and Chief Executive Officer of Heritage Financial Corporation and Heritage Bank | $610,616 | $256,632 | $356,852 | $9,259 | $112,121 | $1,345,480 |
| Donald J. HinsonExecutive Vice President and Chief Financial Officer of Heritage Financial Corporation and Heritage Bank | $439,446 | $173,188 | $212,635 | $10,494 | $86,571 | $922,334 |
| Tony W. ChalfantExecutive Vice President and Chief Credit Officer of Heritage Financial Corporation and Heritage Bank | $370,572 | $146,036 | $184,688 | $3,308 | $91,805 | $796,409 |
| Nicholas M. BleyExecutive Vice President of Heritage Financial Corporation and Executive Vice President and Chief Operating Officer of Heritage Bank | $408,008 | — | $197,423 | — | $10,770 | $616,201 |
| Matthew T. RayExecutive Vice President and Chief Lending Officer of Heritage Financial Corporation and Heritage Bank | $372,130 | $147,361 | $180,063 | — | $11,205 | $710,759 |
What changed and why
- Bryan D. McDonald became President and Chief Executive Officer in May 2025 following Jeffrey J. Deuel's retirement.
- 97%More than 97 percent of votes supported the say-on-pay proposal at the prior annual meeting.
- 16%Performance stock units for the 2023 through 2025 period resulted in payout percentages at zero and 16 percent.
- Target equity incentive awards are split evenly between performance-based and time-vested service awards.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.