First Financial Bankshares amends SERP to allow elective deferral of salary, bonus, RSUs

FIRST FINANCIAL BANKSHARES INC

Participants can now defer up to 25% of base salary and up to 100% of bonus under amended SERP effective Jan 1, 2022.
Participants may also elect to defer settlement of restricted stock units (RSUs) into the plan.
Previously, participants only received discretionary company contributions; now they can make elective deferrals.
The amendment covers named executive officers and other key senior management selected by the Compensation Committee.
All unvested amounts become fully vested upon death, disability, or change of control.

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