SR Bancorp, Inc. — Form 10-K

SR Bancorp executed an employment agreement effective April 22, 2026 with Neil Viotto as Executive Vice President and Chief Operating Officer of Somerset Regal Bank. Viotto receives $290,000 annual base salary, eligible for ≥20% annual cash bonus (target), $750/month auto allowance, and standard benefits. The agreement is three-year initial term with auto-renewal. Severance: without-cause or good-reason termination pays the greater of (i) remaining salary + bonus through contract end, or (ii) 2× average base + bonus over prior 3 years, plus 18 months COBRA. Change-in-control severance: 3× base + average bonus (or target if higher) plus 36 months COBRA. Non-compete/non-solicit extends 1 year post-termination within 35-mile radius.