Flagstar finalizes CEO Otting employment agreement: $1.25M salary, $2.25M target bonus through 2027

FLAGSTAR BANK, NATIONAL ASSOCIATION

Employment agreement executed March 19, 2025, term through March 31, 2027 unless renewed.
Base salary $1.25M per year; eligible for annual cash bonus with target $2.25M, max $4.5M.
Relocation costs to NYC area covered; eligible for benefit plans as senior executive.
Severance: lump sum equal to base salary and target bonus from termination to third anniversary of effective date.
Post-employment restrictions: 12-month non-compete and non-solicitation, perpetual confidentiality, mutual non-disparagement.

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