---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-065589"
form_type: "8-K"
ticker: "WASH"
cik: "0000737468"
company_name: "WASHINGTON TRUST BANCORP INC"
filed_at: "2024-05-28T23:59:59+00:00"
generated_at: "2026-06-01T08:26:23.162441+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Washington Trust suspends 2024 Annual Performance Plan; adopts new Executive Bonus Plan

## Summary
- Committee suspended Annual Performance Plan for 2024; adopted 2024 Executive Bonus Plan for EVPs and above.
- Bonus pool funded by net income; maximum payout 150% of target; awards in cash/equity with time-based vesting.
- Wealth Management Business Building Incentive Plan updated: Chief WM Officer target $90,000; divisional leaders $65,000.
- WM plan weights: New Business 20%, Lost Business 20%, Pre-tax Earnings 30%, Revenue 30%; min 70% threshold per metric.
- Both plans subject to clawback policy; payments exempt from Section 409A as short-term deferrals.

## SEC filing metadata
- accession: 0001104659-24-065589
- form_type: 8-K
- ticker: WASH
- cik: 0000737468
- company_name: WASHINGTON TRUST BANCORP INC
- filed_at: 2024-05-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/737468/000110465924065589/0001104659-24-065589-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/737468/000110465924065589/tm2415674d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-065589
- JSON: https://secwatch.observer/filing/0001104659-24-065589.json
- Plain text: https://secwatch.observer/filing/0001104659-24-065589.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.