Eagle Bancorp confirms EVP Marquez terminated without cause effective July 31; position eliminated
EAGLE BANCORP INC
Antonio F. Marquez, Senior EVP and President of Commercial Banking, terminated without cause effective July 31, 2023 due to position elimination.
No successor will be named for Marquez's role; severance includes 1x base salary and most recent cash bonus plus 12 months healthcare.
Compensation Committee determined Marquez's supplemental executive retirement plan (SERP) benefits will not be reduced despite cessation before age 67.
Severance conditioned on signing a release of claims and compliance with restrictive covenants.
On Monday, July 31, 2023, Eagle Bancorp, Inc. (the "Company") notified Antonio F. Marquez, Senior Executive Vice President and President of Commercial Banking, that his employment will terminate without cause, effective July 31, 2023, due to a position elimination.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Antonio F. Marquez was terminated as Senior Executive Vice President and President of Commercial Banking at EAGLE BANCORP INC.
Action
terminated
Role
Senior Executive Vice President and President of Commercial Banking
Exact text from the filing
On Monday, July 31, 2023, Eagle Bancorp, Inc. (the "Company") notified Antonio F. Marquez, Senior Executive Vice President and President of Commercial Banking, that his employment will terminate without cause, effective July 31, 2023, due to a position elimination.
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