PCB BANCORP — Form 8-K
Filed September 24, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Henry H. Kim, Chief Executive Officer of PCB Bancorp and PCB Bank, entered into an Amended and Restated Employment Agreement effective January 1, 2027, superseding his prior January 1, 2018 agreement. Key terms: annual base salary of $550,000 (non-reducible without consent); annual cash bonus eligibility of 0-100% of base salary; 25,000 restricted shares vesting in five equal installments (5,000 shares annually, 2027-2031); severance of 100% of base salary for termination with Cause/resignation, 150% for termination without Cause, and 200% plus full 12-month COBRA coverage upon Change in Control separation; all unvested equity accelerates fully upon Change in Control separation. Agreement runs through December 31, 2031, with 30-day termination notice requirement.
Why this rating
CEO employment renewal is routine governance. At $225.1M market cap, $550k salary + potential $1.1M severance = ~0.7% of market cap; 25,000 shares at likely ~$9/share ≈ $225k (~0.1% cap). Standard terms for regional bank CEO. No material change to business trajectory.
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