secwatch.observer — SEC 8-K summary
======================================

Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2025-03-21T23:59:59+00:00
Accession:  0001104659-25-026655
Event type: other
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust Bancorp reinstates Annual Performance Plan with PPNR and ROAA metrics
--------------------------------------------------------------------------------

- Committee approved plan replacing 2024 Executive Bonus Plan, effective March 18, 2025.
- Corporate metrics: Pre-tax Pre-Provision Net Revenue and Return on Average Assets, equally weighted.
- Target incentive levels vary by position; maximum payout 150% of target.
- Individual performance component allows 0%-150% payout based on job performance.
- Plan is performance-based under 2022 Long Term Incentive Plan, exempt from Section 409A.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000110465925026655/0001104659-25-026655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000110465925026655/tm259926d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-026655

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