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COASTWAY BANCORP, INC. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ý No fee required. O Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: o Fee paid previously with preliminary materials. O Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

(1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: Coastway Bancorp, Inc. One Coastway Blvd. Warwick, Rhode Island 02886 (401) 330-1600 April 11, 2016 Dear Stockholder: We cordially invite you to attend the Annual Meeting of Stockholders of Coastway Bancorp, Inc. The Annual Meeting will be held at the Coastway Community Bank executive office, second floor, located at One Coastway Blvd, Warwick, Rhode Island 02886 on May 26, 2016, at 4:00 p.m., local time. The enclosed Notice of Annual Meeting and Proxy Statement describe the formal business to be transacted. During the Annual Meeting we will also report on the operations of Coastway Bancorp, Inc.

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Our directors and officers, as well as a representative of our independent registered public accounting firm will be present to respond to any questions that stockholders may have. The business to be conducted at the Annual Meeting consists of (i) the election of four directors, and (ii) the ratification of the appointment of Crowe Horwath LLP as our independent registered public accounting firm for the year ending December 31, 2016.
The Board of Directors has determined that the matters to be considered at the Annual Meeting are in the best interest of Coastway Bancorp, Inc. And its stockholders, and the Board of Directors unanimously recommends a vote 'FOR' each matter to be considered. We are furnishing proxy materials to our stockholders over the Internet. You may read, print and download our 2015 Annual Report to Stockholders and our proxy statement at www.coastway.com/investor relations/SEC filings/Proxy Materials for Stockholder Meeting. We mailed our stockholders a notice containing instructions on how to access these materials and how to vote their shares online.
The notice provides instructions on how you can request a paper copy of these materials by mail, by telephone or by e-mail. If you requested your materials via e-mail, the e-mail contains voting instructions and links to the materials on the Internet. You may vote your shares by Internet, telephone, regular mail or in person at the Annual Meeting. Instructions regarding the various methods of voting are contained on the notice and on the proxy card. On behalf of the Board of Directors, we urge you to vote your proxy as soon as possible, even if you currently plan to attend the Annual Meeting. This will not prevent you from voting in person, but will assure that your vote is counted if you are unable to attend the Annual Meeting.
Your vote is important, regardless of the number of shares that you own. Sincerely, William A. White President and Chief Executive Officer Coastway Bancorp, Inc. One Coastway Blvd. Warwick, Rhode Island 02886 (401) 330-1600 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held On May 26, 2016 Notice is hereby given that the Annual Meeting of Stockholders of Coastway Bancorp, Inc. Will be held at Coastway Community Bank's executive office, second floor, located at One Coastway Blvd., Warwick, Rhode Island 02886 on May 26, 2016, at 4:00 p.m., local time.
A Proxy Statement for the Annual Meeting is enclosed. The Annual Meeting is for the purpose of considering and acting upon: 1.
The election of four directors; 2. The ratification of the appointment of Crowe Horwath LLP as our independent registered public accounting firm for the year ending December 31, 2016; and such other matters as may properly come before the Annual Meeting, or any adjournments thereof. The Board of Directors is not aware of any other business to come before the Annual Meeting. Any action may be taken on the foregoing proposals at the Annual Meeting on the date specified above, or on the date or dates to which the Annual Meeting may be adjourned. Stockholders of record at the close of business on March 31, 2016 are the stockholders entitled to vote at the Annual Meeting, and any adjournments thereof.
EACH STOCKHOLDER, WHETHER HE OR SHE PLANS TO ATTEND THE ANNUAL MEETING, IS REQUESTED TO VOTE THEIR PROXY WITHOUT DELAY. ANY PROXY GIVEN BY THE STOCKHOLDER MAY BE REVOKED AT ANY TIME BEFORE IT IS VOTED. A PROXY MAY BE REVOKED BY FILING WITH THE SECRETARY OF COASTWAY BANCORP, INC. A WRITTEN REVOCATION OR VOTING BY PROXY BEARING A LATER DATE, BY INTERNET, BY TELEPHONE, OR BY MAIL. ANY STOCKHOLDER PRESENT AT THE ANNUAL MEETING MAY REVOKE HIS OR HER PROXY AND VOTE PERSONALLY ON EACH MATTER BROUGHT BEFORE THE ANNUAL MEETING. HOWEVER, IF YOU ARE A STOCKHOLDER WHOSE SHARES ARE NOT REGISTERED IN YOUR OWN NAME, YOU WILL NEED ADDITIONAL DOCUMENTATION FROM YOUR RECORD HOLDER IN ORDER TO VOTE IN PERSON AT THE ANNUAL MEETING.
By Order of the Board of Directors James P. Fiore Secretary Warwick, Rhode Island April 11, 2016 PROXY STATEMENT Coastway Bancorp, Inc. One Coastway Blvd. Warwick, Rhode Island 02886 (401) 330-1600 ANNUAL MEETING OF STOCKHOLDERS May 26, 2016 This Proxy Statement is furnished in connection with the solicitation of proxies on behalf of the Board of Directors of Coastway Bancorp, Inc.
To be used at the Annual Meeting of Stockholders, which will be held at Coastway Community Bank's executive office, second floor, located at One Coastway Blvd., Warwick, Rhode Island 02886 on May 26, 2016, at 4:00 pm., local time, and all adjournments of the Annual Meeting. The accompanying Notice of Annual Meeting of Stockholders and this Proxy Statement are first being made available to stockholders on or about April 11, 2016. REVOCATION OF PROXIES Stockholders who execute proxies in the form solicited hereby retain the right to revoke them in the manner described below. Unless so revoked, the shares represented by such proxies will be voted at the Annual Meeting and all adjournments thereof.
Proxies solicited on behalf of the Board of Directors of Coastway Bancorp, Inc. Will be voted in accordance with the directions given thereon. Where no instructions are indicated, validly executed proxies will be voted 'FOR' the proposals set forth in this Proxy Statement for consideration at the Annual Meeting. Proxies may be revoked by sending written notice of revocation to the Secretary of Coastway Bancorp, Inc. At One Coastway Blvd., Warwick, Rhode Island, 02886, delivering a later-dated proxy by telephone, by internet, by mail or by attending the Annual Meeting and voting in person.
The presence at the Annual Meeting of any stockholder who had returned a proxy shall not revoke such proxy unless the stockholder delivers his or her ballot in person at the Annual Meeting or delivers a written revocation to the Secretary of Coastway Bancorp, Inc. Prior to the voting of such proxy. If you are a stockholder whose shares are not registered in your name, you will need appropriate documentation from your record holder to vote in person at the Annual Meeting.
VOTING SECURITIES AND PRINCIPAL HOLDERS Except as otherwise noted below, holders of record of Coastway Bancorp, Inc.' S shares of common stock, par value $0.01 per share, as of the close of business on March 31, 2016 are entitled to one vote for each share then held.
As of March 31, 2016, there were 4,773,379 shares of common stock issued and outstanding. Principal Holders Persons and groups who beneficially own in excess of 5% of the shares of our common stock are required to file certain reports with the Securities and Exchange Commission regarding such ownership. The following table sets forth, as of March 31, 2016, the shares of common stock beneficially owned by our directors and executive officers, individually and as a group, and by each person who was known to us as the beneficial owner of more than 5% of our outstanding shares of common stock. The mailing address for each of our directors and executive officers, the Coastway Community Bank 401(k) 1 Retirement Plan, and the Coastway Community Bank Employee Stock Ownership Plan is One Coastway Blvd., Warwick, Rhode Island 02886. Name and Address of Beneficial Owners Amount of Shares Owned and Nature of Beneficial Ownership(1) Percent of Shares of Common Stock Outstanding Five Percent Stockholders Maltese Capital Holdings, LLC Malta Hedge Fund II, L.P.
Maltese Capital Management LLC Terry Maltese 150 East 52 nd Street, 30 th Floor, New York, New York 10022. 480,900 (2) 10.1% Coastway Community Bank ESOP and Coastway Community Bank 401(k) Retirement Plan 483,361 (3) 10.1% Castine Capital Management, LLC Paul Magidson One International Place, Suite 2401 Boston, Massachusetts 02110 United States of America 309,592 (4) 6.5% Directors and Executive Officers Mark E. Crevier, Chairman of the Board 7,540 (5) * Hon.
Flaherty, Director 2,360 (6) * Debra M. Paul, Director 1,968 (7) * William A.
White, President and Chief Executive Officer 27,432 (8) * Dennis M. Murphy, Director 2,860 (9) * James P. Fiore, Director 10,360 (10) * Lynda Dickinson, Director 1,360 (11) * Phillip Kydd, Vice Chairman of the Board 3,190 (12) * David P. DiSanto, Director 4,920 (13) * Malcolm G. * Angelo P.
* Richard Petrarca, Executive Vice President and Chief Operating Officer 27,398 (14) * Paul G. Wielgus, Executive Vice President and Chief Credit Officer 10,605 (15) * Jeanette Fritz, Executive Vice President and Chief Financial Officer 9,604 (16) * Jana M. Planka, Executive Vice President and Chief Retail Officer 11,234 (17) * Stephen J. Gibbons, Executive Vice President and Chief Business Lending Officer 17,773 (18) * All directors and executive officers as a group (16 persons) 138,604 2.9%. * Less than 1%. (1) In accordance with Rule 13d-3 under the Securities Exchange Act of 1934, a person is deemed to be the beneficial owner for purposes of this table, of any shares of common stock if he or she has shared voting or investment power with respect to such security, or has a right to acquire beneficial ownership at any time within 60 days from the date as of which beneficial ownership is being determined.
As used herein, 'voting power' is the power to vote or direct the voting of shares and 'investment power' is the power to dispose or direct the disposition of shares, and includes all shares held directly as well as by spouses and minor children, in trust and other indirect ownership, 2. Over which shares the named individuals effectively exercise sole or shared voting or investment power. (2) On a Schedule 13G/A filed with the Securities and Exchange Commission on February 11, 2016, Maltese Capital Management LLC reported shared dispositive and voting power with respect to 480,900 shares of our common stock; Maltese Capital Holdings, LLC reported shared dispositive and voting power with respect to 408,198 shares of our common stock; Maltese Hedge Fund II, L.P. Reported shared dispositive and voting power with respect to 258,945 shares of our common stock; and Terry Maltese reported shared dispositive and voting power with respect to 480,900 shares of our common stock. (3) On a Schedule 13G/A filed with the Securities and Exchange Commission on January 22, 2016, Delaware Charter Guarantee & Trust Company dba Principal Trust Company reported shared dispositive and voting power with respect to 483,361 shares of our common stock, of which 395,543 shares, or 8.3% are owned by the ESOP and 87,818 shares or 1.8% are owned by the 401(k). (4) On a Schedule 13G/A filed with the Securities and Exchange Commission on February 16, 2016, Castine Capital Management, LLC reported shared dispositive and voting power with respect to 309,592 shares of our common stock and Paul Magidson reported shared dispositive and voting power with respect to 309,592 shares of our common stock.
(5) Includes 7,000 shares held in an IRA and 540 shares of unvested restricted stock. (6) Includes 360 shares of unvested restricted stock. (7) Includes 360 shares of unvested restricted stock. (8) Includes 7,580 shares held in the Coastway Community Bank 401(k) plan, 8,900 shares held by deferred compensation plan for the benefit of Mr. White, 1,237 shares held in the ESOP, and 9,715 shares of unvested restricted stock. (9) Includes 360 shares of unvested restricted stock. (10) Includes 360 shares of unvested restricted stock.
(11) Includes 360 shares of unvested restricted stock. (12) Includes 100 shares held by a child of Mr. Kydd and 360 shares of unvested restricted stock. (13) Includes 4,400 shares of unvested stock held in an IRA, 75 shares held in a UTMA, and 360 shares of unvested restricted stock. (14) Includes 21,534 shares held in the Coastway Community Bank 401(k) plan for the benefit of Mr. Petrarca, 849 shares held in the ESOP, and 5,015 shares of unvested restricted stock. (15) Includes 3,962 shares held in the Coastway Community Bank 401(k) plan for the benefit of Mr. Wielgus, 2,000 shares held in an IRA, 663 shares held in the ESOP, and 3,980 shares of unvested restricted stock. (16) Included 134 shares held in the Coastway Community Bank 401(k) plan for the benefit of Ms. Fritz, 715 shares held in the ESOP and 5,755 shares of unvested restricted stock. (17) 6,158 shares held in the Coastway Community Bank 401(k) plan for the benefit of Ms. Planka and 716 shares held in the ESOP, and 4,360 shares of unvested restricted stock.
(18) Includes 10,100 held in the Coastway Community Bank 401(k) plan for the benefit of Mr. Gibbons and 1,078 shares held in the ESOP, and 6,595 shares of unvested restricted stock. 3 Quorum The presence in person or by proxy of a majority of the outstanding shares of common stock entitled to vote is necessary to constitute a quorum at the Annual Meeting. Abstentions and broker non-votes will be counted for purposes of determining that a quorum is present.
Limitations on Voting In accordance with the provisions of our Articles of Incorporation, record holders of common stock who beneficially own in excess of 10% of the outstanding shares of our common stock (the 'Limit') are not entitled to any vote with respect to the shares held in excess of the Limit. Our Articles of Incorporation authorize the Board of Directors (i) to make all determinations necessary to implement and apply the Limit, including determining whether persons or entities are acting in concert, and (ii) to demand that any person who is reasonably believed to beneficially own stock in excess of the Limit supply information to us to enable the Board of Directors to implement and apply the Limit. Method of Counting Votes As to the election of directors, a stockholder may vote FOR each nominee proposed by the Board or WITHHOLD authority to vote for each nominee being proposed. Directors are elected by a plurality of votes cast, without regard to either broker non-votes or proxies as to which the authority to vote for the nominees being proposed is withheld. Plurality means that individuals who receive the highest number of votes cast are elected, up to the maximum number of directors to be elected at the annual meeting. Comment Installer Free Mc Boot Sans Cd.
As to the ratification of the appointment of Crowe Horwath LLP as our independent registered public accounting firm, a stockholder may: (i) vote FOR the ratification; (ii) vote AGAINST the ratification; or (iii) ABSTAIN from voting on such ratification. The affirmative vote of a majority of the votes cast on the matter at the Annual Meeting is required for the ratification of Crowe Horwath LLP as the independent registered public accounting firm for the year ending December 31, 2016. Shares as to which 'ABSTAIN' has been selected will have no effect on the outcome of the vote. 4 PROPOSAL IELECTION OF DIRECTORS Our Board of Directors is comprised of eleven members. Our Bylaws provide that directors are divided into three classes, with one class of directors elected annually. Our directors are generally elected to serve for a three-year period and until their respective successors shall have been elected and shall qualify. Four directors will be elected at the Annual Meeting to serve for a three-year period, and until their respective successors shall have been elected and shall qualify.
The Nominating and Corporate Governance Committee of the Board of Directors has nominated the following persons to serve as directors for three-year terms: David P. DiSanto, Lynda Dickinson, Phillip Kydd and Malcolm G. All four nominees are currently directors of Coastway Bancorp, Inc. And Coastway Community Bank.
The Board of Directors recommends a vote 'FOR' the election of the nominees. The table below sets forth certain information regarding the nominees, the other current members of our Board of Directors, and executive officers who are not directors, including the terms of office of board members. It is intended that the proxies solicited on behalf of the Board of Directors (other than proxies in which the vote is withheld as to any nominee) will be voted at the Annual Meeting for the election of the proposed nominees. If a nominee is unable to serve, the shares represented by all such proxies will be voted for the election of such substitute as the Board of Directors may determine. At this time, the Board of Directors knows of no reason why any of the nominees might be unable to serve, if elected. No shares of our common stock have been pledged as collateral.
Name Position(s) Held With Coastway Bancorp, Inc. Age(1) Director Since(2) Current Term Expires NOMINEES David P. DiSanto Director 59 2013 2016 Lynda Dickinson Director 66 2001 2016 Phillip Kydd Vice Chairman of the Board 56 2002 2016 Malcolm G. Chace, Jr Director 48 2016 2016 CONTINUING DIRECTORS Mark E.
Crevier Chairman of the Board 65 1986 2017 Hon. Flaherty Director 69 2008 2017 Debra M. Paul Director 52 2008 2017 Angelo P. Lopresti Director 52 2016 2017 William A.
White President, Chief Executive Officer & Director 59 1994 2018 Dennis M. Murphy Director 67 2008 2018 James P. Fiore Director 72 1996 2018 EXECUTIVE OFFICERS WHO ARE NOT DIRECTORS Richard H. Petrarca Executive Vice President and Chief Operating Officer 62 N/A N/A Paul G. Wielgus(3) Executive Vice President and Chief Credit Officer 63 N/A N/A Jeanette Fritz Executive Vice President and Chief Financial Officer 50 N/A N/A Jana Planka(3) Executive Vice President and Chief Retail Officer 55 N/A N/A Stephen J. Gibbons(3) Executive Vice President and Chief Business Lending Officer 56 N/A N/A. (2) Includes service with Coastway Community Bank (and predecessor Coastway Credit Union) and Coastway Bancorp, Inc.
(3) Ms. Planka and Messrs. Gibbons and Wielgus are executive officers of Coastway Community Bank only. The biographies of each of the nominees, continuing board members and executive officers are set forth below. With respect to directors and nominees, the biographies also contain information regarding the person's business experience and the experiences, qualifications, attributes or skills that caused the Nominating and Corporate Governance Committee to determine that the person should serve as a director. Each director of Coastway Bancorp, Inc. Is also a director of Coastway Community Bank, and if elected each nominee will be appointed as a director of Coastway Community Bank. Nominees and Continuing Directors Lynda Dickinson is the founder and chief executive officer of CHILD, Inc., a private non-profit comprehensive child development and family services agency serving children from low-income families from pre-birth to age five through four facilities located in Kent County, Rhode Island. She founded the organization in 1976.
Ms. Dickinson is a present and past board member of a number of community service organizations in Rhode Island, including the New England Head Start Association. Ms. Dickinson's financial and managerial skills bring valuable expertise to the board.
Phillip Kydd serves as vice chairman of the board, a position he has held since 2010. Mr. Kydd has served as the Deputy Director of the Rhode Island Department of Transportation since 2010 and is currently an Executive in Residence at the University of Rhode Island. He started his service with the Department of Transportation in 1986 and held the position of Assistant Director of Administration immediately before attaining the position of Deputy Director. Mr. Kydd had oversight of engineering, construction and professional service contracts in excess of $1 billion.
Mr. Kydd is a present and past board member of a number of community service and educational organizations, including the Miriam Hospital Foundation, University of Rhode Island Transportation Center, University of Rhode Island Foundation and the New England Institute of Technology. Mr. Kydd's executive service with the Department of Transportation provides the board with expertise in addressing budgetary planning, administration and contract negotiating. DiSanto, a Certified Public Accountant, is a partner in the accounting firm of DiSanto, Priest & Co.
And has over 36 years experience in public accounting. His accounting practice focuses on privately held businesses and high net worth individuals. Prior to establishing his firm in 2003, Mr. DiSanto was employed by KPMG Peat Marwick and served as a manager in the Private Business Group. Mr. DiSanto's accounting expertise provides the board of directors with perspective on Coastway Community Bank's financial and accounting practices as well as its relationship with internal and external auditors. Has been an investment professional and portfolio manager for over 20 years. Since 2013, Mr. Chace has been a Managing Director and Portfolio Manager at WhaleRock Point Partners.
Prior to joining WhaleRock Point Partners, in 2008 Mr. Chace was a managing director and portfolio manager with Oppenheimer and Company and formed the Nulman/Chace Group. Mr. Chace has been responsible for investment policy, asset allocation by way of custom tailoring portfolios, investment process and relationship management during the course of his career. Mr. Chace is present board member of Meeting Street, including participating as chairman of the board from 2006-2010. He is a current member of the Sophia Academy Investment Committee and heads the Advisory Council for Gordon School.
He previously served as a board member for Woman and Infants Hospital from 2005-2008 and the Providence Public Library from 2005-2008. He currently also serves as a Director of the Dromoland Castle County Clare Ireland. Mr. Chace brings financial expertise and board experience to our board. Crevier is a Certified Public Accountant and has served as chairman of the board of directors of Coastway Community Bank since 1998. He also serves on the Executive Committee.
Mr. Crevier served as an executive with a number of hospital and health care organizations beginning in 1985. From 2005 to 2008 he served as president and chief executive officer of Kent County Hospital in Warwick, Rhode Island, retiring in 2008. He currently serves as an Executive-in-Residence at the University of Rhode Island. Mr. Crevier's executive service experience and accounting expertise bring valuable insight to the board of directors.
Flaherty is an Associate Justice of the Rhode Island Supreme Court and has served in that position since 2003. Prior to his tenure on the court, Justice Flaherty served on the city council of the City of Warwick from 1978 until 1985. He served as the Mayor of Warwick from 1984 until 1991. Prior to his service on the court, he was engaged in the private practice of law in Providence and Warwick, Rhode Island. Justice Flaherty's broad community service provides the board with a wide range of skills and experience to address the many issues facing a financial institution in today's complex regulatory and economic environment. Paul is the chief executive officer of Fellowship Health Resources, Inc. In Lincoln, Rhode Island, which provides counseling and support services to people with emotional, mental and behavioral disorders.
Prior to her appointment as chief executive officer in July 2013, she served as chief financial officer of the organization from January 2012 until June 2013. From 2006 until October 2011, she served as chief financial officer of Women and Infants Hospital, Providence, Rhode Island. Ms. Paul is also a Certified Public Accountant. Ms. Paul's accounting expertise and executive and financial management experience brings a valuable resource to the board. Lopresti has served as the Senior Vice President, General Counsel and Corporate Secretary since 2001 for IPG Photonics Corporation, a NASDAQ-listed company in Oxford, Massachusetts, where he is the senior legal and business advisor to its senior management and board of directors. At IPG Photonics, a global manufacturing company with over 3,800 employees, he manages the legal operations and strategy, including compliance, governance, contracting, litigation and securities. Prior to joining IPG Photonics, Mr. Lopresti was a partner at Winston & Strawn LLP in New York, New York, where his legal practice focused on corporate, securities and mergers and acquisition matters.
Mr. Lopresti will provide valuable legal, governance, compliance and public company experience to the board. White has served as president and chief executive officer of Coastway Community Bank and its predecessor Warwick Credit Union since 1994. Mr. White is a present and past board member of a number of community service organizations in Rhode Island, including the Providence Performing Arts Center and the Meeting Street School.
Mr. White's service on the board of directors provides the board with first hand information on the bank's operations and his leadership in the growth of the bank and its conversion to a stock savings bank in 2014 evidence strong leadership qualities that are an asset to the board. Murphy was formerly with Gateway Healthcare, Inc., Pawtucket, Rhode Island, where he was involved in sales and customer relations, from which he retired in 2012 after seven years of service. From 1997 to 2004 he served as the president and chief executive officer of the United Way of Rhode Island.
He also served as an executive vice president with Fleet Bank from 1972 to 1996 where he managed the small business lending division among other duties. Mr. Murphy's extensive experience in small business lending provides Coastway Community Bank with valuable expertise in an important business line for the bank. Fiore is the founder and president of Thames Records Management, Inc., a digital scanning and software company located in Stonington, Connecticut. Mr. Fiore founded the company in 2008 after selling AMS Imaging, a scanning and software company that he founded and operated for 40 years. Mr. Fiore has served as corporate secretary of Coastway Community Bank since 2000. 7 Mr. Fiore's extensive experience in records management and technology provide the board of directors with valuable expertise on similar issues concerning the bank. Executive Officers Who Are Not Directors Richard H.
Petrarca is executive vice president and chief operating officer. Prior to his appointment in May 2013, he served as the chief financial officer, a position he held since 1993. Wielgus has been executive vice president and chief credit officer since 2009.
In this capacity he oversees the credit policy and loan review function of the bank and chairs the credit committee. He also serves as the bank's Community Reinvestment Act officer. Prior to joining the bank in 2009 he served as senior vice president and senior credit officer at Bank Rhode Island beginning in 1998.
Previously, he held senior credit positions with BankBoston and the Rhode Island Hospital Trust National Bank. He has over 30 years of credit related experience. He is a past and present board member of a number of community service organizations. Jeanette Fritz has served as executive vice president and chief financial officer since May 2013. Prior to joining the bank, she was an audit partner at KPMG LLP where she was employed from 1987 until 2012. Ms. Fritz primarily performed audits of community banks as well as other financial services organizations during her tenure at KPMG. Ms. Fritz is a Certified Public Accountant.
Planka has been executive vice president and chief retail officer since January 2010. She has held a number of managerial positions at Coastway Community Bank, including consumer and residential mortgage lending, sales and marketing and branch operations since joining the bank's predecessor in 1994. Prior to joining Coastway Community Bank's predecessor, Ms. Planka was employed at Fleet National Bank in the retail and community lending divisions.
She is a present and past board member of a number of community service organizations in the Providence metropolitan area. Gibbons is executive vice president in charge of business lending, a position he has held since 2008. Prior to joining the bank, he served in various senior lending positions with Bank Rhode Island from 1996 to 2008.
Mr. Gibbons has served with a number of community service organizations in the Cranston metropolitan area. Board Independence The Board of Directors has determined that each of our directors, with the exception of President and Chief Executive Officer William A. White is 'independent' as defined in the listing standards of the Nasdaq Stock Market. Mr. White is not independent because he is one of our executive officers.
In determining the independence of the other directors, the board of directors considered loans made to Directors Crevier, Dickinson and Kydd, and to CHILD, Inc., for which Director Dickinson is the Chief Executive Officer, and to 20 Centerville Road Associates, LLC, in which Director Flaherty has an ownership interest. Board Leadership Structure and Risk Oversight Our Board of Directors is chaired by Mark E. Crevier, who is a non-executive director. White, our President and Chief Executive Officer, is a member of our Board of Directors.
We intend to continue to separate the Chairman and Chief Executive Officer positions. This structure ensures a greater role for the independent directors in the oversight of Coastway Bancorp, Inc.
And Coastway Community Bank and active participation of the independent directors in setting agendas and establishing priorities and procedures for the work of the Board. 8 The Board of Directors is actively involved in oversight of risks that could affect Coastway Bancorp, Inc. This oversight is conducted in part through committees of the Board of Directors, but the full Board of Directors has retained responsibility for general oversight of risks.
The Board of Directors satisfies this responsibility through full reports by each committee regarding its considerations and actions, regular reports directly from officers responsible for oversight of particular risks within Coastway Bancorp, Inc. As well as through internal and external audits. Risks relating to the direct operations of Coastway Community Bank are further overseen by the Board of Directors of Coastway Community Bank, who are the same individuals who serve on the Board of Directors of Coastway Bancorp, Inc. The Board of Directors of Coastway Community Bank also has additional committees that conduct risk oversight separate from Coastway Bancorp, Inc. Further, the Board of Directors oversees risks through the establishment of policies and procedures that are designed to guide daily operations in a manner consistent with applicable laws, regulations and risks acceptable to the organization. References to our Website Address References to our website address throughout this proxy statement and the accompanying materials are for informational purposes only, or to fulfill specific disclosure requirements of the Securities and Exchange Commission's rules. These references are not intended to, and do not, incorporate the contents of our website by reference into this proxy statement or the accompanying materials.
Section 16(a) Beneficial Ownership Reporting Compliance Our executive officers and directors and beneficial owners of greater than 10% of the outstanding shares of common stock are required to file reports with the Securities and Exchange Commission disclosing beneficial ownership and changes in beneficial ownership of our common stock. Securities and Exchange Commission rules require disclosure if an executive officer, director or 10% beneficial owner fails to file these reports on a timely basis.
No executive officer, director or 10% beneficial owner of our shares of common stock failed to file ownership reports for 2015 on a timely basis. Code of Ethics Coastway Bancorp, Inc. Has adopted a Code of Ethics that is applicable to its senior financial officers, including the principal executive officer, principal financial officer, principal accounting officer and all officers performing similar functions. We have posted this Code of Ethics on our Internet website at www.coastway.com. Amendments to and waivers from the Code of Ethics will also be disclosed on Coastway Bancorp, Inc.' Attendance at Annual Meetings of Stockholders Coastway Bancorp, Inc. Does not have a written policy regarding director attendance at annual meetings of stockholders, although directors are expected to attend these meetings absent unavoidable scheduling conflicts.
All members of the Board attended the 2015 annual meeting. Communications with the Board of Directors Any stockholder who wishes to contact our Board of Directors or an individual director may do so by writing to: Coastway Bancorp, Inc., One Coastway Blvd., Warwick, Rhode Island 02886, Attention: Secretary.
The letter should indicate that the sender is a stockholder and if shares are not held of record, should include appropriate evidence of stock ownership. Communications are reviewed by the Secretary and are then distributed to the Board of Directors or the individual director, as appropriate, depending on the facts and circumstances outlined in the communications received. The Secretary may attempt to handle an inquiry directly or forward a communication for response by the director or 9 directors to whom it is addressed. The Secretary has the authority not to forward a communication if it is primarily commercial in nature, relates to an improper or irrelevant topic, or is unduly hostile, threatening, illegal or otherwise inappropriate. Meetings and Committees of the Board of Directors The business of Coastway Bancorp, Inc. Is conducted at regular and special meetings of the Board of Directors and its committees.
In addition, the 'independent' members of the Board of Directors (as defined in the listing standards of the NASDAQ Stock Market) meet in executive sessions. The standing committees of the Board of Directors of Coastway Bancorp, Inc. Are the Audit, Compensation and Nominating and Corporate Governance Committees. The Board of Directors had nine meetings during the year ended December 31, 2015. No member of the Board of Directors of Coastway Bancorp, Inc.
Or any committee thereof attended fewer than 75% of the aggregate of: (i) the total number of meetings of the Board of Directors (held during the period for which he or she has been a director); and (ii) the total number of meetings held by all committees on which he or she served (during the periods that he or she served). Audit Committee. The Audit Committee is comprised of Directors Paul (Chair), Murphy and DiSanto, each of whom is 'independent' in accordance with applicable SEC rules and Nasdaq listing standards. The Audit Committee also serves as the audit committee of the board of directors of Coastway Community Bank. The Board of Directors has determined that Ms. Paul qualifies as an 'audit committee financial expert' as defined under applicable SEC rules because Ms. Paul is a Certified Public Accountant and has nearly eight years of public accounting experience. In addition, each Audit Committee member has the ability to analyze and evaluate our financial statements as well as an understanding of the Audit Committee's functions.
Our Board of Directors has adopted a written charter for the Audit Committee, which is available on our Internet website at www.coastway.com. As more fully described in the Audit Committee Charter, the Audit Committee reviews the financial statements, records and affairs of Coastway Bancorp, Inc. And monitors adherence in accounting and financial reporting to accounting principles generally accepted in the United States of America.
The Audit Committee of Coastway Bancorp, Inc. Met five times during the year ended December 31, 2015. Paul (Chair) Dennis M.
Murphy David P. DiSanto Nominating and Corporate Governance Committee. The Nominating and Corporate Governance Committee is comprised of Directors DiSanto (Chairman), Flaherty and Kydd, each of whom is independent in accordance with Nasdaq listing standards.
The Nominating and Corporate Governance Committee also serves as the nominating committee of the board of directors of Coastway Community Bank. The Nominating and Corporate Governance Committee operates under a written charter which is available on our Internet website at www.coastway.com. The Nominating and Corporate Governance Committee of Coastway Bancorp, Inc. Met one time during the year ended December 31, 2015. The Nominating and Corporate Governance Committee does not have a formal policy or specific guidelines regarding diversity among board members. However, the Nominating and Corporate Governance Committee seeks members who represent a mix of backgrounds that will reflect the diversity of our stockholders, employees, and customers, and experiences that will enhance the quality of the Board of Directors' deliberations and decisions.
As the holding company for a community bank, the Nominating and Corporate Governance Committee also seeks directors who can continue to strengthen Coastway Community Bank's position in its community and can assist Coastway Community Bank with business development through business and other community contacts. Name and principal position Year Salary ($) Bonus ($) All other compensation ($)(1) Total ($) William A. White 2015 326,000 65,200 121,829 513,029 President and Chief Executive Officer 2014 306,000 61,200 126,425 493,625 Stephen J. Gibbons 2015 229,687 34,453 38,737 302,877 Executive Vice President, Chief Business Lending Officer 2014 222,997 33,450 36,088 292,535 Jeanette Fritz 2015 202,829 30,424 28,109 261,362 Executive Vice President and Chief Financial Officer 2014 193,640 29,046 23,133 245,819. (2) Based on Coastway Bancorp, Inc.' S market price of $13.08 on December 31, 2015.
During the budgeting process at the end of 2014, the board of directors allocated a bonus pool for potential allocation to senior officers at the end of the following year. The President and Chief Executive Officer evaluates the performance of the senior officers, including the named executive officers (other than himself), and recommends bonus amounts to be awarded to the senior officers to the Compensation Committee of the board of directors. The Compensation Committee determines the bonus amount awarded to the President and Chief Executive Officer and reviews and approves the bonuses awarded to the senior officers. In 2016, the bonus program will be administered through the Annual Incentive Plan described below. Benefit Plans and Agreements Employment Agreement. Coastway Community Bank entered into an employment agreement with William A. White on January 1, 2011, which was amended on July 25, 2013.
The amended employment agreement has a five-year term, which will expire on December 31, 2018, unless renewed. In the absence of any written notice from either party not renewing the agreement, which notice must be delivered to the other party no later than December 1 each year, the agreement will automatically renew for an additional one year.
Prior to each non-renewal notice period, the disinterested members of the board of directors will conduct a comprehensive performance evaluation and the results thereof shall be included in the board's minutes. The agreement provides for the payment of base salary which is subject to an annual salary increase equal to the greater of 3% or a percentage increase equal to the annual Consumer Price Index. Mr. White's 2015 base salary was $326,000. In addition to the base salary, the agreement provides Mr. White with a maximum potential target incentive equal to 20% of his base salary as in effect as of January 1 each year, based upon the successful completion of performance objectives established by the board of directors no later than 90 days after the beginning of any calendar year. The board in its discretion may grant an incentive award in excess of the 20% limit. Such incentive compensation is paid to the executive as a cash lump sum no later than 30 days after the end of the calendar year for which the target incentive pay was established. The agreement provides Mr. White with $1,250 per month to be applied toward the purchase or lease of an automobile of his choice, titled in his own name, and Coastway Community Bank reimburses Mr. White for maintenance costs of such automobile, but Mr. White is responsible for maintaining insurance coverage on such automobile at his own expense.
The agreement also provides that Coastway Community Bank pays for membership dues and related fees and expenses for Mr. White's membership in an appropriate club or clubs, subject to the approval of the board of directors. The agreement also provides for participation in other employee benefit plans, arrangements and perquisites applicable to senior officers. The agreement entitles Mr. White to reimbursement for business expenses, an annual medical examination paid by Coastway Community Bank, short term and long term disability insurance through the later of age 67 or the end of the term of the employment agreement, and participation in a supplemental executive retirement plan. Certain events resulting in Mr. White's termination or resignation entitle Mr. White to payments of severance benefits following termination of employment. Name Fees earned or paid in cash ($) Total ($) Mark E. Crevier 27,361 27,361 Hon.
Flaherty 10,833 10,833 Debra M. Paul 11,222 11,222 Dennis M. Murphy 12,333 12,333 James P. Fiore 21,944 21,944 Lynda Dickinson 21,944 21,944 Phillip Kydd 22,844 22,844 David P. DiSanto 12,333 12,333 Each non-employee director of Coastway Community Bank was paid a fee of $1,111 for each meeting attended.
The chairman of the board received $1,250 for each meeting attended. Additionally, each executive committee member was paid a fee of $1,111 for each executive committee meeting attended.
Directors were paid $300 for attending audit committee meetings, and no fees for attending nominating/corporate governance and compensation committee meetings. The directors of Coastway Bancorp, Inc. Are not separately compensated.
Transactions With Certain Related Persons Loans and Extensions of Credit. The Sarbanes-Oxley Act of 2002 generally prohibits publicly traded companies from making loans to their executive officers and directors, but it contains a specific exemption from such prohibition for loans made by federally insured financial institutions, such as Coastway Community Bank, to their executive officers and directors in compliance with federal banking regulations. Federal regulations permit executive officers and directors to receive the same terms that are widely available to other employees as long as the director or executive officer is not given preferential treatment compared to the other participating employees.
Coastway Community Bank makes loans to its executive officers and employees through an employee loan program pursuant to which such loans bear interest at a rate that is 1.0% lower than the market rate at the time of origination, but no lower than 4%, unless the market rate is lower than 4%, but for which no further discount would apply. The program applies only to residential mortgages, consumer loans and home equity installment loans on a primary residence and is available to all employees of Coastway Community Bank. The following table sets forth loans made by Coastway Community Bank to its directors and executive officers where the largest amount of all indebtedness outstanding during the years ended December 31, 2015 and 2014, and all amounts of interest payable during each year, respectively, exceeded $120,000, and where the borrowers received reduced interest rates pursuant to the employee loan program described above.
Except for the reduced interest rates, all loans to directors and executive officers were made in the ordinary course of business, were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans to 20 persons not related to Coastway Community Bank, and did not involve more than the normal risk of collectability or present other unfavorable features. Name Type of Loan Largest Aggregate Balance from January 1, 2014 to December 31, 2015 Interest Rate on December 31, 2015 Principal balance on December 31, 2015 Amount of Principal Paid from January 1, 2014 to December 31, 2015 Amount of Interest Paid from January 1, 2014 to December 31, 2015 William A. White Residential mortgage $ 479,482 4.0% $ 428,157 (1) $ 53,469 $ 36,509 Richard H. Petrarca Residential mortgage $ 179,832 4.0% $ 167,404 $ 7,927 $ 13,744. (1) Unsecured.
Year Ended December 31, 2015 Year Ended December 31, 2014 Audit Fees $ 99,000 $ 136,500 Audit-Related Fees $ $ Tax Fees $ 18,600 $ 15,500 All Other Fees $ $ 17,500 Audit Fees. The aggregate fees billed to us for professional services rendered for the audit of our annual consolidated financial statements, review of the consolidated financial statements included in our Quarterly Reports on Form 10-Q and services that are normally provided in connection with statutory and regulatory filings and engagements were $99,000 by Crowe Horwath LLP and $136,500 by Wolf & Co., P.C. During the years ended December 31, 2015 and 2014, respectively. 22 Audit Related Fees. There were no audit-related fees billed by Crowe Horwath LLP or by Wolf & Co., P.C. During the years ended December 31, 2015 and 2014, respectively.
The aggregate fees billed to us for professional services rendered for tax preparation, tax consultation and tax compliance were $18,600 by Crowe Horwath, LLP and $15,500 by Wolf & Co., P.C. During the years ended December 31, 2015 and 2014, respectively. All Other Fees. The aggregate fees billed to us for professional services rendered for other fees were $0 and $17,500 during the years ended December 31, 2015 and 2014, respectively.
Fees of $17,500 for 2014 were for fees billed by Wolf & Co., P.C. Related to our operational risk (for example, compliance, vendor and information technology) management system. There were no fees billed to us by Crowe Horwath, LLP during the year ended December 31, 2015 and by Wolf & Co., P.C. During the year ended December 31, 2014 that are not described above. The Audit Committee has considered whether the provision of non-audit services, which related primarily to tax compliance services and tax advice rendered, was compatible with maintaining the independence of Crowe Horwath, LLP or Wolf & Co., P.C.
The Audit Committee concluded that performing such services did not affect the independence of Crowe Horwath, LLP or Wolf & Co., P.C. In performing its function as our independent registered public accounting firm. The Audit Committee's policy is to pre-approve all audit and non-audit services provided by the independent registered public accounting firm, either by approving an engagement prior to the engagement or pursuant to a pre-approval policy with respect to particular services. These services may include audit services, audit-related services, tax services and other services.
The Audit Committee may delegate pre-approval authority to one or more members of the Audit Committee when expedition of services is necessary. The independent registered public accounting firm and management are required to periodically report to the full Audit Committee regarding the extent of services provided by the independent registered public accounting firm in accordance with this pre-approval, and the fees for the services performed to date. The audit-related fees and all other fees described above were approved as part of our engagement of Crowe Horwath, LLP and Wolf & Co., P.C. The Board of Directors recommends a vote 'FOR' the ratification of Crowe Horwath LLP as independent registered public accounting firm for the year ending December 31, 2016.
STOCKHOLDER PROPOSALS In order to be eligible for inclusion in the proxy materials for our 2017 Annual Meeting of Stockholders, any stockholder proposal to take action at such meeting must be received at Coastway Bancorp, Inc.' S executive office, One Coastway Blvd., Warwick, Rhode Island 02886, no later than December 13, 2016. If the date of the 2017 Annual Meeting of Stockholders is changed by more than 30 days, any stockholder proposal must be received at a reasonable time before we print or mail proxy materials for such meeting. Any such proposals shall be subject to the requirements of the proxy rules adopted under the Securities Exchange Act of 1934. In order to be considered at our 2017 Annual Meeting of Stockholders, but not included in proxy materials, a stockholder proposal to take action at such meeting must be received by the Secretary of Coastway Bancorp, Inc. At the principal executive office of Coastway Bancorp, Inc.
Coastway Bancorp, Inc. Using a black ink pen, mark your votes with an X as shown in this example.
Please do not write outside the designated areas. Q PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. Q A Proposals The Board of Directors recommends a vote FOR all the nominees listed and FOR Proposal 2. The election as Directors of all nominees listed below each to serve for a three-year term: + For Withhold For Withhold For Withhold 01 - David P.
DiSanto 02 - Lynda Dickinson 03 - Phillip Kydd 04 - Malcolm G. ForAgainst Abstain 2. The ratification of the appointment of Crowe Horwath LLP as the Companys independent registered public accounting firm for the year ending December 31, 2016 B Authorized Signatures This section must be completed for your vote to be counted.
Date and Sign Below Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title.
Date (mm/dd/yyyy) Please print date below. Signature 1 Please keep signature within the box. Signature 2 Please keep signature within the box. + 1 U P X 02AYSB Annual Meeting Proxy Card X IMPORTANT ANNUAL MEETING INFORMATION. Q PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. Q Proxy Coastway Bancorp, Inc. Notice of 2016 Annual Meeting of Stockholders One Coastway Blvd., Warwick, RI 02886 Proxy Solicited by Board of Directors for Annual Meeting May 26, 2016 The undersigned hereby appoints the official proxy committee, consisting of all members of the Board of Directors who are not standing for election at the Annual Meeting, with full powers of substitution, to act as attorneys and proxies for the undersigned to vote all shares of common stock of Coastway Bancorp, Inc.
(the Company) which the undersigned is entitled to vote at the Annual Meeting of Stockholders of Coastway Bancorp, Inc. To be held on May 26, 2016 or at any postponement or adjournment thereof. Should the undersigned be present and elect to vote at the Annual Meeting or at any adjournment thereof and after notification to the Secretary of the Company at the Annual Meeting of the stockholders decision to terminate this proxy, then the power of said attorneys and proxies shall be deemed terminated and of no further force and effect. This proxy may also be revoked by sending written notice to the Secretary of a later proxy prior to a vote being taken on a particular proposal at the Annual Meeting. The undersigned acknowledges receipt from the Company prior to the execution of this proxy of notice of the Annual Meeting, a proxy statement dated April 11, 2016 and the 2015 Annual Report to Stockholders. Shares represented by this proxy will be voted as directed by the stockholder.
If no such directions are indicated, the Proxies will have authority to vote FOR the election of David P. DiSanto, Lynda Dickinson, Phillip Kydd and Malcolm G.
Chace, Jr., each to serve a three-year term, and FOR the ratification of the appointment of Crowe Horwath LLP as the Companys independent registered public accounting firm for the year ending December 31, 2016. In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting. (Items to be voted appear on reverse side.). + Coastway Bancorp, Inc.
Vote by Internet Go to www.investorvote.com/CWAY Or scan the QR code with your smartphone Follow the steps outlined on the secure website Important Notice Regarding the Availability of Proxy Materials for the Coastway Bancorp, Inc. Stockholder Meeting to be Held on May 26, 2016 Under Securities and Exchange Commission rules, you are receiving this notice that the proxy materials for the annual meeting of stockholders are available on the Internet. Follow the instructions below to view the proxy materials and vote online, by telephone or by proxy card or voting instruction form (upon request). You may also request that a printed proxy card or voting instruction form (as applicable) and a copy of the proxy materials be sent to you.
You will not receive a printed proxy card or voting instruction form or a printed copy of the proxy materials unless you request one in the manner set forth below. The items to be voted on and location of the annual meeting are on the reverse side.
Your vote is important! This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. We encourage you to access and review all of the important information contained in the proxy materials before voting. The proxy statement and annual report to stockholders are available at: www.investorvote.com/CWAY Easy Online Access A Convenient Way to View Proxy Materials and Vote When you go online to view materials, you can also vote your shares. Step 1: Go to www.investorvote.com/CWAY Step 2: Click on the icon on the right to view current meeting materials. Step 3: Return to the investorvote.com window and follow the instructions on the screen to log in.
Step 4: Make your selection as instructed on each screen to select delivery preferences and vote. Q When you go online, you can also help the environment by consenting to receive electronic delivery of future materials. Nixon Manual 2 Watches here. Obtaining a Copy of the Proxy Materials If you want to receive a copy of these documents, you must request one.
There is no charge to you for requesting a copy. Please make your request for a copy as instructed on the reverse side on or before May 16, 2016 to facilitate timely delivery. + 02AYTB Stockholder Meeting Notice IMPORTANT ANNUAL MEETING INFORMATION.
Coastway Bancorp Inc.s Annual Meeting of stockholders will be held on May 26, 2016 at One Coastway Blvd., Warwick, RI 02886, at 4:00 p.m. Eastern Time. Proposals to be voted on at the meeting are listed below along with the Board of Directors recommendations. The Board of Directors recommends that you vote FOR the following proposals: 1.Election of David P. DiSanto, Lynda Dickinson, Phillip Kydd and Malcolm G. Chace, Jr., each to serve for a three-year term.
2.The ratification of the appointment of Crowe Horwath LLP as the Companys independent registered public accounting firm for the year ending December 31, 2016. PLEASE NOTE YOU CANNOT VOTE BY RETURNING THIS NOTICE.
To vote your shares you must vote online at www.investorvote.com/CWAY, by telephone 1-800-652-VOTE (8683), or by proxy card or voting instruction form (upon request). Proxies submitted by the Internet or telephone must be received by 1:00 a.m. Eastern time on May 26, 2016. If you wish to attend and vote at the meeting, please bring this notice with you. Heres how to order a copy of the proxy materials and select a future delivery preference: Paper copies: Current and future paper delivery requests can be submitted via the telephone, Internet or email options below.
Email copies: Current and future email delivery requests must be submitted via the Internet following the instructions below. If you request an email copy of current materials you will receive an email with a link to the materials. PLEASE NOTE: You must use the number in the shaded bar on the reverse side when requesting a set of proxy materials.
G Internet Go to www.investorvote.com/CWAY. Follow the instructions to log in and order a copy of the current meeting materials and submit your preference for email or paper delivery of future meeting materials. Telephone Call us free of charge at 1-866-641-4276 and follow the instructions to log in and order a paper copy of the materials by mail for the current meeting. You can also submit a preference to receive a paper copy for future meetings. Email Send email to investorvote@computershare.com with Proxy Materials Coastway Bancorp, Inc. in the subject line. Include in the message your full name and address, plus the number located in the shaded bar on the reverse, and state in the email that you want a paper copy of current meeting materials.
You can also state your preference to receive a paper copy for future meetings. To facilitate timely delivery, all requests for a paper copy of the proxy materials must be received by May 16, 2016. G g 02AYTB Stockholder Meeting Notice GRAPHIC 2 g192834.jpg G192834.JPG begin 644 g192834.jpg M_]C_X 02D9)1@! 0$!KP&O #__@ _35),3%]'4D%02$E#4SI;0T]!4U17 M05E?0D%.0T]24%])3D-=5TE,3$E!35]!7U=(251%7TM?4TE'+D504__; $, M 0$!
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Full text of ' Field Service Handbook M7530/7540 Accessories M-654 210 Cartridge ANSI Transport M-656 Page Search M-652 110 Roll Film Transport 78-6970-2850-0 3M Office Systems Division 3M Field Service Handbook M652 110 Roll Film Transport 3M Office Systems Division 3M Additional Information 5-1. Cleaning 5-2. Film Storage and Handling 5-3. PEM Checklist 5-1 5-1 5-2 Theory of Operation 6-1 = 6-2. Description Component Description Theory of Operation 6-1 6-1 6-4 Diagrams 7-1. Power Circuit Control Circuit System Block Diagram AC Power Distribution DC Power Distribution/System * Located in binder pocket 7-1 7-3 7-5 Troubleshooting 8-1. Operational Sequence Film Scanning Checklist 8-1 8-2 8-3 ©3M CO.
1989 JUNE M-652 Contents Specifications 1-1. Description Applications Specifications 1-1 1-1 1-1 Installation 2-1.
General Unpacking Set-Up Adjustments Initial Check 2-1 2-1 2-1 2-3 2-3 Adjustment 3-1. Lower Glass Flat Solenoid Brake Solenoid and Brake Disc Drive Belts Film Forward Motor Drive Belt Film Reverse Motor Drive Belt Overload Clutch Film Speed Control Encoder Disc Encoder Disc Sensor Vertical Position (LED Method) Encoder Disc Sensor Vertical Position (Oscilloscope Method) Encoder Disc Horizontal Position Film Traverse Film End Switch Film Guide Rollers 3-1 3-2 3-4 3-4 3-5 3-6 3-7 3-8 3-8 3-9 3-10 3-12 3-13 3-14 Disassembly 4-1. 4-3.4 General External Covers Rear Cover Top Left Cover Top Right Cover Front Left Cover Front Right Cover Bottom Cover Electrical Components Power PWA Control PWA Film Forward Motor Film Reverse Motor 4-1 4-1 4-1 4-1 4-2 4-3 4-4 4-4 4-5 4-5 4-5 4-6 4-6 © 3M CO.
1989 JUNE Contents M-652 Disassembly (Cont). Brake Solenoid Glass Flat Solenoid Encoder Disc Sensor Film-End Switch Blower Assembly Miscellaneous Components Upper Glass Flat Encoder Disc Overload Clutch Friction Disc Brake Friction Disc Guide Rollers Anti-Static Brush 4-7 4-7 4-8 4-8 4-9 4-9 4-9 4-10 4-11 4-11 4-12 4-12 Additional Information 5-1. Cleaning Film Storage and Handling PEM Checklist 5-1 5-1 5-2 Theory of Operation 6-1. Description Component Description Theory of Operation 6-1 6-1 6-4 Diagrams 7-1. Power Circuit Control Circuit System Block Diagram AC Power Distribution DC Power Distribution/System * Located in binder pocket 7-1 7-3 7-5 Troubleshooting 8-1.
Operational Sequence Film Scanning Checklist 8-1 8-2 8-3 ©3M CO. 1989 JUNE M-652 Specifications 1-0 Contents 1-1. Description 1-1 1-2. Applications 1-1 1-3.
Specifications 1-1 © 3M CO. 1989 JUNE M-652 Specifications* 1-1 1-1. DESCRIPTION The 3M Model 652 1 10 RFT (Roll Film Transport) is a self-contained motorized 16 mm and 35 mm roll film transport used on the 3M Model 7530 MFB 1 100 Reader-Printer. APPLICATIONS The M-652 110 RFT is typically installed on the M-7530 MFB 1 100 where 16 mm or 35 mm roll film is used.