MID PENN BANCORP INC — Form 8-K/A
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K/A
— Neutral
significance 28/100
What the filing says
Mid Penn Bancorp executed a change-in-control severance agreement with Dana Stewart, effective July 31, 2026, providing severance of 2.25× base salary plus 27 months of health benefits if terminated without Cause or for Good Reason within 12 months of a Change in Control. The agreement includes 3-year initial term with auto-renewal, restrictive covenants (non-solicitation, confidentiality, non-disparagement), clawback provisions, and Section 280G tax gross-up cutback provisions. No specific base salary or total obligation amount is disclosed in the filing.
Why this rating
Routine change-of-control severance agreement with key management personnel; no disclosed dollar amount, no material financial impact disclosed, standard governance practice for ~$600M market-cap company.
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