This is a routine retention filing for the CFO with standard terms. No immediate trading implications. Monitor for any future amendments or changes in executive compensation structure.
Price Chart
Executive Summary
Private Bancorp of America entered into a three-year employment agreement with CFO Cory Stewart, effective September 5, 2026. The agreement sets a minimum base salary of $425,000, a target annual bonus of 40% of base salary, and eligibility for LTIP equity awards up to 40% of base salary beginning in 2027. Severance provisions include 18 months' base salary for termination without cause or for good reason, and 24 months' base salary plus full target bonus for a change-in-control termination within one year. This is a routine retention arrangement with no material financial impact.
Key Facts
- CFO Cory Stewart entered into a new employment agreement with CalPrivate Bank, effective September 5, 2026
- Three-year term with minimum annual base salary of $425,000
- Target annual incentive bonus of 40% of base salary, beginning with 2026 performance
- Eligible for annual LTIP restricted stock unit awards up to 40% of base salary starting in 2027
- Severance: 18 months' base salary plus pro-rata bonus for termination without cause or for good reason
- Change-in-control severance: 24 months' base salary plus full target bonus, subject to release and Section 280G reduction
- Non-solicitation covenant applies during employment and for 8 months after termination
Financial Impact
No material financial impact; CFO compensation is within normal range for a $521M market cap bank
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-389249 |
| Document: d145617d8k.htm | 0001193125-26-389249 |
| Document: 0001193125-26-389249-index-headers.html | 0001193125-26-389249 |
| Document: 0001193125-26-389249-index.html | 0001193125-26-389249 |
| Document: 0001193125-26-389249.txt | 0001193125-26-389249 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | 8-K | $82.30 | awaiting T+20 | — | $85.93 (+4.41%) |
Sep 24, 2026 4w ago | SC 13G | $86.25 $85.99 | ▼ −0.30% | ▲ +1.17% | $85.93 (−0.37%) |
Sep 11, 2026 6w ago | 8-K | $91.20 $85.61 | ▼ −6.13% | ▼ −8.39% | $85.93 (−5.78%) |
Aug 17, 2026 10w ago | 8-K | $87.33 $91.15 | ▲ +4.37% | ▲ +5.36% | $85.93 (−1.60%) |
Aug 10, 2026 11w ago | 8-K | $85.61 $90.56 | ▲ +5.78% | ▲ +6.84% | $85.93 (+0.37%) |
Jul 29, 2026 12w ago | 3 | $83.50 $88.30 | ▲ +5.75% | ▲ +1.78% | $85.93 (+2.91%) |
US Market Status
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