Management ChangeMay 1, 2026, 04:22 PM
FB Bancorp: Katherine Crosby transitions to non-executive Chair
AI Summary
FB Bancorp, Inc. and Fidelity Bank entered into a Board Chair Realignment and Transition Agreement with Katherine A. Crosby. Effective June 30, 2026, Ms. Crosby will transition from Executive Chair to a non-executive Chair role, ceasing her employment with the company. As part of the agreement, she will receive a total of $250,000 in cash and $250,000 in restricted stock, paid in installments through June 2028. Additionally, she will receive COBRA health care cost reimbursement and continue to receive board fees and participate in the Director Retirement Plan.
Key Highlights
- Katherine A. Crosby transitions from Executive Chair to non-executive Chair of FB Bancorp and Fidelity Bank.
- Transition is effective June 30, 2026, at which point she will no longer be an employee.
- Ms. Crosby will receive a cash payment of $250,000 in four equal installments through June 2028.
- She will also receive a restricted stock grant valued at $250,000, vesting in four equal installments through June 2028.
- The Bank will reimburse her for COBRA health care costs for her and dependents until she attains age 65.
- As non-executive Chair, she will receive board fees and participate in the Director Retirement Plan.
- Post-employment restrictive covenants from her previous agreement will continue for six months.