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Get filing alertsCVB Financial's General Counsel Richard Wohl to retire June 5 after 15 years
Filed May 26, 2026 · Period ending May 20, 2026 · ~1 min read
Key Changes
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Richard Wohl, Executive VP and General Counsel since October 2011, is retiring effective June 5, 2026, marking the departure of a senior legal officer with nearly 15 years of service.
Item 5.02 verify on EDGAR → -
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Compensation Committee approved accelerated vesting of 17,904 restricted shares originally scheduled to vest through January 2029, valued at approximately $364,346 based on $20.35 stock price.
Item 5.02 verify on EDGAR →
Summary
CVB Financial Corp. disclosed that Richard Wohl will retire from his position as Executive Vice President and General Counsel on June 5, 2026. Wohl has served in this role since October 2011, providing legal oversight for both the parent company and its principal subsidiary, Citizens Business Bank. His departure represents the loss of institutional knowledge accumulated over nearly 15 years of service.
In connection with his retirement, the Compensation Committee approved early vesting of restricted stock awards totaling approximately $364,000. While this represents standard retirement treatment for a long-tenured executive, the company has not yet disclosed succession plans for the General Counsel role. Investors should watch for announcements regarding Wohl's replacement and any potential transition period to ensure continuity in legal oversight during what appears to be a routine executive transition.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
General Counsel Richard Wohl retiring June 5, 2026; receiving accelerated vesting of restricted stock awards worth approximately $364,346.
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Added in current filing · verify on EDGAR →
the Compensation Committee of the Company’s Board of Directors has provided for the early acceleration of vesting, effective on June 5, 2026, of the following equity awards granted to Mr. Wohl under the Company’s 2018 Equity Incentive Plan: (i) an award of 3,074 shares of restricted stock which would have otherwise vested in January 2027, (ii) an award of 5,816 shares of restricted stock which would have otherwise vested in two equal increments in January 2027 and January 2028, and (iii) an award of 9,014 shares of restricted stock which would have otherwise vested in three equal increments in January 2027, January 2028 and January 2029.
The Compensation Committee approved early vesting of 17,904 shares of restricted stock (3,074 + 5,816 + 9,014) that were originally scheduled to vest between January 2027 and January 2029. This accelerated vesting is in recognition of Mr. Wohl's service as General Counsel.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 27, 2026 · How we verify