Corporate GovernanceJul 20, 2026, 05:06 PM
Chain Bridge Bancorp Adopts New Short-Term & Amends Long-Term Incentive Plans
AI Summary
Chain Bridge Bancorp's Board of Directors adopted a new Short-Term Incentive Cash Compensation Plan, effective July 14, 2026, to provide annual cash incentive awards based on performance objectives. Concurrently, the Board amended and restated the Long-Term Cash Incentive Plan, effective the same date. The amendment allows all unvested awards to vest fully upon a participant's separation from service after retirement (age 65) and at least three years of service, regardless of the grant date.
Key Highlights
- Board adopted a new Short-Term Incentive Cash Compensation Plan, effective July 14, 2026.
- The Short-Term Plan provides annual cash incentive awards based on performance objectives.
- Named executive officers' award opportunity under the Short-Term Plan is typically 100% of salary.
- Board amended and restated the Long-Term Cash Incentive Plan, effective July 14, 2026.
- The Long-Term Plan amendment allows full vesting of unvested awards upon retirement (age 65) with 3+ years of service.
- The amended Long-Term Plan applies to awards granted on or after September 10, 2024.
Price Impact
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