Gouverneur Bancorp appoints Robert W. Barlow as director and enters change-in-control agreement

Gouverneur Bancorp, Inc./MD/

Robert W. Barlow, previously appointed President and CEO in March 2024, elected as director of the Company and Bank on April 15, 2024.
Bank entered Change in Control Agreement with Barlow; initial one-year term, auto-renewing unless non-renewal notice given.
Termination without cause or for good reason within 24 months post-change-in-control triggers lump sum equal to base salary plus highest annual bonus in prior two years.
Agreement includes net-after-tax benefit provision to avoid excess parachute payments under Section 280G.
No transactions involving Barlow that would require disclosure under Item 404(a) of Reg S-K.

item 5.02

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Appointed

Robert W. Barlow

Director

GOVB · Gouverneur Bancorp, Inc./MD/

Effective: 2024-04-15
Filed: April 19, 2024, 7:59 PM ET

On April 15, 2024, the Board of Directors of Gouverneur Bancorp, Inc. (the “Company”) and its wholly owned subsidiary, Gouverneur Savings and Loan Association (the “Bank”), elected Robert W. Barlow to serve as a director of the Company and the Bank.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Robert W. Barlow was elected as Director at Gouverneur Bancorp, Inc./MD/.

Action: elected
Role: Director

Exact text from the filing

On April 15, 2024, the Board of Directors of Gouverneur Bancorp, Inc. (the “Company”) and its wholly owned subsidiary, Gouverneur Savings and Loan Association (the “Bank”), elected Robert W. Barlow to serve as a director of the Company and the Bank.

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Source: SEC EDGAR

accession 0001104659-24-049478

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