Compensatory ArrangementApr 7, 2026, 04:11 PM
Green Dot CEO William I Jacobs Eligible for One-Time Bonus Up To $1.25M Tied to Merger Closing
AI Summary
Green Dot Corporation has established a one-time discretionary bonus opportunity for its Chief Executive Officer, William I Jacobs, of up to $1,250,000 in cash. This bonus is contingent upon Mr. Jacobs' continued service as CEO from January 8, 2026, through the closing of the proposed merger transactions with CommerceOne Financial Corporation and its Compass subsidiaries. The actual bonus amount will be determined by the Compensation Committee based on performance and will be payable upon his cessation of service as CEO in connection with the merger's closing. This arrangement aims to ensure leadership stability during the critical period leading up to the completion of the significant corporate transaction.
Key Highlights
- Green Dot Corporation's CEO, William I Jacobs, is eligible for a one-time discretionary cash bonus of up to $1,250,000.
- The bonus covers Mr. Jacobs' service period from January 8, 2026, through the closing of the proposed merger transactions.
- Eligibility for the bonus requires Mr. Jacobs to continue serving as CEO through the merger's closing.
- The actual bonus amount will be determined by the Compensation Committee, considering Mr. Jacobs' and the Company's performance.
- The bonus is tied to the proposed merger under an Agreement and Plan of Merger dated November 23, 2025, involving CommerceOne Financial Corporation, Compass Sub North, Inc., Compass Sub East, Inc., and Compass Sub West, Inc.
- Any awarded bonus will be payable upon Mr. Jacobs' cessation of service as CEO in connection with the Closing.