Riverview Bancorp finalizes separation agreement with former CEO Kevin Lycklama

RIVERVIEW BANCORP INC

Kevin Lycklama's employment as President and CEO ended September 6, 2023; separation agreement effective October 3, 2023.
Lycklama receives $410,200 in monthly severance over 12 months, plus COBRA premium reimbursement up to 18 months.
Agreement includes release of claims under ADEA and other laws, plus non-disparagement and 12-month customer non-solicitation.
Company and bank provide mutual non-disparagement; reference will state only Lycklama's tenure from June 2006 to September 2023.
Post-employment covenants on confidential information, non-solicitation, and cooperation survive termination.

item 5.02 item 9.01

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Departed

Kevin Lycklama

President and Chief Executive Officer

RVSB · RIVERVIEW BANCORP INC

Effective: 2023-09-06
Filed: October 3, 2023, 7:59 PM ET

Riverview Bancorp, Inc. (“Company”) and its wholly-owned subsidiary, Riverview Bank (“Bank”), entered into a separation agreement and release (“Agreement”) with Kevin Lycklama, effective October 3, 2023, whose employment with the Company and the Bank as President and Chief Executive Officer ended effective September 6, 2023.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Lycklama departed as President and Chief Executive Officer at RIVERVIEW BANCORP INC.

Action: ended
Role: President and Chief Executive Officer

Exact text from the filing

Riverview Bancorp, Inc. (“Company”) and its wholly-owned subsidiary, Riverview Bank (“Bank”), entered into a separation agreement and release (“Agreement”) with Kevin Lycklama, effective October 3, 2023, whose employment with the Company and the Bank as President and Chief Executive Officer ended effective September 6, 2023.

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Source: SEC EDGAR

accession 0000939057-23-000302

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