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Get filing alertsChain Bridge Bancorp adopts annual cash incentive plan, eases retirement vesting
Filed July 20, 2026 · Period ending July 14, 2026 · ~1 min read
Key Changes
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Board adopted new annual cash incentive plan for employees including named executives, with awards up to 100% of salary based on performance objectives set by Compensation Committee.
Item 5.02 verify on EDGAR → -
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Board amended long-term incentive plan to vest all unvested awards upon retirement at age 65 with three years of service, regardless of grant date; previously only awards granted three years before retirement vested.
Item 5.02 verify on EDGAR → -
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Short-term plan awards require employment through year-end but remain eligible on prorated basis for retirement at 65+, death, or total disability.
Item 5.02 verify on EDGAR →
Summary
Chain Bridge Bancorp's board adopted two compensation plan changes on July 14, 2026. The company established a new annual cash incentive plan for employees including named executive officers, with awards up to 100% of salary based on performance objectives. The Compensation Committee administers the plan and sets objectives, with final Board approval required for Section 16 officers.
The board also amended the existing long-term cash incentive plan to make retirement vesting more generous. Under the revised terms, all unvested awards now vest in full when a participant retires at age 65 or later with at least three years of service, regardless of when the awards were granted. The prior version only vested awards granted at least three years before retirement.
This change applies to awards granted on or after September 10, 2024. Both changes align executive compensation more closely with retention through retirement age. The amendments are standard governance matters with no immediate shareholder impact beyond the incremental compensation cost of the more generous vesting terms.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Chain Bridge Bancorp adopted a new short-term cash incentive plan and amended its long-term plan to ease retirement vesting rules.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Awards under the plan are subject to the participant’s employment through the end of the year; provided, however, that if an individual’s employment terminates prior to the end of the year because of retirement after reaching age 65, death, or total disability, they will remain eligible for a prorated award under the Short-Term Plan.
Awards under the new short-term plan require employment through year-end, but participants who retire at age 65 or older, die, or become totally disabled before year-end remain eligible for prorated awards. This protects executives from forfeiting incentive compensation due to qualifying separations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify