other_material
confidence high
sentiment neutral
materiality 0.35
Provident Financial signs severance deal with CFO Fan; 2x salary plus bonus on change-in-control termination
PROVIDENT FINANCIAL HOLDINGS INC
- Severance agreement with SVP/CFO Peter C. Fan effective May 22, 2025, through Feb 28, 2026.
- Upon qualifying termination within 12 months after a change in control: lump sum of 2x base salary plus 2x largest annual bonus in prior 2 years.
- Continued life, medical, dental, vision and disability coverage for 2 years post-termination.
- Agreement includes standard regulatory provisions, arbitration, and requires release of claims.
item 5.02item 9.01