other material
confidence high
sentiment neutral
materiality 0.40
USCB Financial amends CFO Anderson's severance multiplier from 2x to 2.5x on change in control
USCB FINANCIAL HOLDINGS, INC.
- Amendment effective Jan 6, 2025 increases CFO Robert Anderson's severance multiplier from 2x to 2.5x upon qualifying termination after a change in control.
- Enhanced severance equals 2.5x Highest Total Annual Cash Compensation (highest base salary + cash bonus in prior 3 calendar years).
- Payment split: 50% within 30 days after termination, remaining 50% after restricted period ends.
- Company-paid COBRA medical/dental for up to 18 months with tax gross-up on premium payments.
- No other changes to the employment agreement; compensation committee approved.