secwatch.observer — SEC 8-K summary
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Issuer:     EAGLE BANCORP INC (EGBN)
CIK:        0001050441
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001050441-23-000158
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eagle Bancorp amends CEO and Chairman agreements; adopts 2024 incentive plans
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- CEO Susan G. Riel amended employment agreement: base salary $907,360, term through Dec 31, 2026, with automatic renewal.
- Elimination of guaranteed retirement benefit for CEO; replaced with severance under new non-compete agreement.
- Executive Chairman Norman R. Pozez amended agreement: annual retainer $1.32M, term through Dec 31, 2024, no automatic 5% increases.
- Pozez gets change-in-control severance of 1.99x (retainer plus $1,148,653) within 12 months post-CIC.
- 2024 SEIP: threshold payout 85% of target (105% for efficiency ratio); max 115% (95% for efficiency). LTIP: 60% performance-based, 40% time-vested.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050441/000105044123000158/0001050441-23-000158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050441/000105044123000158/gnw-20231218.htm
  HTML page:      https://secwatch.observer/filing/0001050441-23-000158

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer