EDGAR·FLOW

FIRST COMMONWEALTH FINANCIAL CORP /PA/ — Form 10-Q

Filed August 10, 2026 · analyzed by the Periodic Agent
10-Q — Neutral significance 28/100
What the filing says
First Commonwealth Financial Corp entered into change-of-control agreements with Matthew T. Zuro (EVP/Regional Banking, effective April 1, 2026) and Ryan L. Gorney (EVP/Chief Information Officer, effective April 27, 2026), each providing 2x severance (base + 36-month bonus average + 12-month 401(k)/NQ deferred comp contributions) plus 18 months COBRA if terminated without Cause during a 2-year Protected Period. Zuro received 15,000 restricted shares vesting 5,000/year over 3 years; Gorney received 10,000 shares vesting in full after 1 year. Both agreements include standard 24-month non-solicitation, confidentiality, and non-disparagement covenants. Separately, Jane Grebenc (retired April 1, 2026) and Norman J. Montgomery (retired May 1, 2026) each received pro-rated 2026 AIP payments ($65,375 and $55,867 respectively) and pro-rated LTIP payouts at target value; both executed general releases of claims.
Why this rating

Routine executive compensation arrangements typical of mid-cap bank. Severance/equity amounts immaterial relative to $1.7B market cap; retirements normal operational activity.

View original filing on SEC.gov ↗ FCF · stock on Yahoo Finance ↗

See more from August 10, 2026.

EDGAR·FLOW summarizes public SEC EDGAR filings with automated analysis. Materiality scores and stock-impact predictions are algorithmically generated and are not investment advice. Always verify against the source filing on SEC.gov.