secwatch.observer — SEC 8-K summary
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Issuer:     NorthEast Community Bancorp, Inc./MD/ (NECB)
CIK:        0001847398
Form:       8-K
Filed at:   2023-06-28T23:59:59+00:00
Accession:  0001104659-23-075723
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NorthEast Community Bancorp enters employment agreement with CFO Donald Hom
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- Employment agreement with Donald S. Hom (EVP & CFO) effective June 22, 2023.
- 36-month term with annual 12-month automatic extensions unless decided otherwise.
- Initial base salary of $285,000; eligible for discretionary short- and long-term incentive compensation.
- Severance: 3x (base salary + target bonus) for without-cause termination, including within 24 months after change in control.
- One-year non-compete and 12-month non-solicitation post-termination (except after change in control).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923075723/0001104659-23-075723-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847398/000110465923075723/tm2319855d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-075723

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