other material
confidence high
sentiment neutral
materiality 0.40
First Seacoast Bancorp freezes CEO Brannen's non-CIC benefit at $64,817; CIC benefit set at $132,209
First Seacoast Bancorp, Inc.
- CEO James Brannen's salary continuation agreement amended: non-change-in-control annual benefit frozen at $64,817.
- Change-in-control benefit set at $132,209 annual (or $1,322,090 lump sum if separation within two years).
- Benefit outside CIC is frozen and no longer increases over time; effective March 5, 2025.
- If Brannen dies before separation, beneficiary receives lump sum of $648,179.