CVB Financial renews CEO contract early through 2029 with target pay, 2.5x change-in-control severance

Filed June 1, 2026 · Period ending June 1, 2026 · ~1 min read

Key Changes

• high

  CEO David Brager's employment extended to June 2029, two years before prior contract expired. Change-in-control severance increased to 2.5x salary plus bonus with immediate equity vesting, potentially impacting acquisition economics.

  Item 5.02 verify on EDGAR →
• medium

  Total target compensation approximately $3.9M annually: $966K base salary, $1.16M target bonus (120% of base, max 180%), plus $1.74M in annual equity grants (180% of base, minimum 150%).

  Item 5.02 verify on EDGAR →
• medium

  Standard termination without cause triggers 2x base plus 2x average bonus paid over 18 months. Compensation Committee retains discretion for upward salary adjustments and annual equity grant composition.

  Item 5.02 verify on EDGAR →