ESOPAug 10, 2026, 04:39 PM
Private Bancorp of America Grants CEO 30,000 Stock Options
AI Summary
Private Bancorp of America, Inc. granted its President and CEO, Richard L. Sowers, an option to purchase 30,000 shares of common stock on August 4, 2026. The options have an exercise price of $85.65, which was the closing price on the grant date. The award vests upon the delivery of the Company's 2028 audited financial statements, contingent on performance goals and Mr. Sowers' continued employment.
Key Highlights
- CEO Richard L. Sowers granted stock options.
- Option to purchase 30,000 shares of common stock.
- Exercise price set at $85.65 per share.
- Grant date was August 4, 2026.
- Options terminate on the tenth anniversary of the grant date.
- Vesting contingent on 2028 audited financial statements and performance goals.
- Award is subject to standard forfeiture and clawback provisions.
Price Impact
More from PBAM