Corporate GovernanceJun 5, 2026, 04:47 PM
Auburn National Bancorporation Awards 4,475 RSUs to Named Executives
AI Summary
Auburn National Bancorporation's Compensation Committee approved the grant of 4,475 Restricted Stock Units (RSUs) to its three named executive officers on June 5, 2026, under the Company's 2024 Equity and Incentive Compensation Plan. The RSUs will vest annually over three years, with 33% vesting on June 5, 2027, 33% on June 5, 2028, and 34% on June 5, 2029. The awards include dividend equivalents and may see accelerated vesting under specific conditions, such as death, disability, retirement, termination without cause, or a change in control, while also imposing restrictive covenants on the recipients.
Key Highlights
- Auburn National Bancorporation's Compensation Committee approved 4,475 Restricted Stock Units (RSUs) for named executive officers.
- David A. Hedges was awarded 2,078 RSUs.
- W. James Walker, IV was awarded 1,207 RSUs.
- Robert L. Smith was awarded 1,190 RSUs.
- RSUs vest annually over three years: 33% on June 5, 2027, 33% on June 5, 2028, and 34% on June 5, 2029.
- Awards include Dividend Equivalents, which vest under the same terms as the original RSUs.
- Vesting may accelerate upon certain events including death, disability, retirement, termination without cause, or a change in control.
- Recipients are subject to restrictive covenants regarding confidential information, employee solicitation, and customer solicitation.
Price Impact
More from AUBN