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Press Release

Randolph Bancorp, Inc. Grants Inducement Awards

Company Release - 4/2/2020 8:00 AM ET

STOUGHTON, Mass., April 02, 2020 (GLOBE NEWSWIRE) -- Randolph Bancorp, Inc. (the “Company”) (NASDAQ Global Market: RNDB), the holding company for Envision Bank (the “Bank”), today announced that on April 1, 2020 the Company granted inducement awards of restricted stock and stock options to William M. Parent, the Company’s newly appointed President and Chief Executive Officer, and Lauren B. Messmore, the Company’s newly appointed Executive Vice President and Chief Financial Officer. The grants were made as inducements material to Mr. Parent’s and Ms. Messmore’s employment in accordance with NASDAQ Listing Rule 5635(c)(4). Mr. Parent’s grant consists of (i) 10,000 shares of restricted stock and (ii) an option to purchase 29,412 shares of the Company’s common stock. Ms. Messmore’s grant consists of (i) 5,000 shares of restricted stock and (ii) an option to purchase 14,706 shares of the Company’s common stock. The shares of restricted stock and stock options granted to Mr. Parent and Ms. Messmore will vest annually in five equal installments on the anniversary of the award’s grant date, subject to the executive’s continued employment with the Company and the Bank through each such vesting date.

About Randolph Bancorp, Inc.
Randolph Bancorp, Inc. is the holding company for Envision Bank and its Envision Mortgage Division. Envision Bank is a full-service community bank with five retail branch locations, lending and operations centers in Stoughton, North Attleboro and Andover, Massachusetts, eight loan production offices located throughout Massachusetts and one loan production office in Southern New Hampshire.

Randolph Bancorp, Inc. is the sole member of Envision Bank Foundation, Inc. (the “Foundation”), a nonprofit corporation organized in 2016 to financially support community projects that improve the quality of life in markets served by Envision Bank. Since inception, the Foundation has funded projects focused on support of military veterans and their families, and education.

Media Contact:
Lauren Messmore
Executive Vice President, Chief Financial Officer
617.925.1960
lmessmore@envisionbank.com

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Source: Randolph Bancorp, Inc.