secwatch.observer — SEC 8-K summary
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Issuer:     MID PENN BANCORP INC (MPB)
CIK:        0000879635
Form:       8-K
Filed at:   2025-01-24T23:59:59+00:00
Accession:  0000879635-25-000017
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mid Penn Bancorp adopts 2025 Executive Annual Incentive Plan for named officers
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- Plan effective Jan 1, 2025; participants include named executive officers; awards based on performance objectives.
- Performance metrics may include net income, efficiency ratio, and tangible book value growth, weighted by priority.
- Awards can be cash and/or restricted stock with three-year vesting; maximum award set as percentage of base salary.
- Payment contingent on satisfactory overall performance as determined by Compensation Committee; subject to clawback.
- Discretionary bonus awards also allowed, up to designated percentage of base salary, granted in Committee's sole discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/879635/000087963525000017/0000879635-25-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/879635/000087963525000017/mpb-20250122.htm
  HTML page:      https://secwatch.observer/filing/0000879635-25-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer