secwatch.observer — SEC 8-K summary
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Issuer:     RIVERVIEW BANCORP INC (RVSB)
CIK:        0001041368
Form:       8-K
Filed at:   2023-10-03T23:59:59+00:00
Accession:  0000939057-23-000302
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Riverview Bancorp finalizes separation agreement with former CEO Kevin Lycklama
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041368/000093905723000302/0000939057-23-000302-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041368/000093905723000302/8k10223.htm
  HTML page:      https://secwatch.observer/filing/0000939057-23-000302

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