Corporate GovernanceJul 22, 2026, 04:22 PM
BayCom Corp Adopts 2026 Performance Stock Unit Program
AI Summary
BayCom Corp's Board of Directors adopted a 2026 Performance Stock Unit Program for senior executive officers, establishing a new incentive compensation structure. Under the program, participants receive performance stock units (PSUs) that vest upon meeting a market vesting condition, specifically when the company's volume-weighted average stock price exceeds a specified threshold for 20 consecutive trading days. Once vested, these 'Banked PSUs' will be settled approximately three years after the grant date, with half in common stock and half in cash, and will include dividend equivalent units.
Key Highlights
- BayCom Corp adopted a 2026 Performance Stock Unit Program (PSU Program).
- PSU Program is for senior executive officers of the Company and United Business Bank.
- PSUs represent the right to receive one-half share of common stock and one-half cash.
- PSUs become 'Banked PSUs' when VWAP exceeds a threshold for 20 consecutive trading days.
- Banked PSUs are settled after the third anniversary of the grant date.
- Dividend equivalent units are credited on Banked PSUs for cash dividends.
- Specific provisions for settlement upon death, disability, termination, or Change in Control.
Price Impact
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