PLUMAS BANCORP — Form 10-Q
Filed August 5, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
Plumas Bank entered into Supplemental Executive Retirement Agreements (SERPs) effective May 1, 2026, with two executives: Kevin Kaiser and Jack Prescott. Each agreement provides an annual retirement benefit of $80,000/year (payable over 10 years starting at Normal Retirement Date of May 1, 2036), plus accrued liability balance upon early separation or death. These are unfunded, unsecured deferred compensation arrangements subject to Section 409A compliance. The agreements include change-of-control acceleration provisions and hardship distribution options.
Why this rating
Two identical SERPs totaling ~$1.6M in aggregate present value (10 years × $80k × 2) represent ~0.65% of company market cap. Routine executive retention tools; immaterial relative to company size.
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