Norwood Financial names John McCaffery as CFO; outgoing CFO Lance to retire Aug 2

NORWOOD FINANCIAL CORP

John McCaffery appointed EVP and CFO effective June 24, 2024; 30 yrs finance experience, former CFO at Newtek Bank and Bridge Bancorp.
William Lance steps down as CFO, becomes EVP & Chief Strategic Officer until retirement on August 2, 2024.
Employment agreement: $340k base salary, $600/mo car allowance, sign-on equity award $25k in stock vesting over 5 years.
Severance: one-year base salary for involuntary termination without cause; 200% base plus pro-rata bonus upon change-in-control termination.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

William S. Lance

Executive Vice President and Chief Strategic Officer

NWFL · NORWOOD FINANCIAL CORP

Effective: 2024-06-24
Successor: John M. McCaffery
Filed: June 24, 2024, 7:59 PM ET

William S. Lance, previously Executive Vice President and Chief Financial Officer, resigned his position as Chief Financial Officer and has been appointed Executive Vice President and Chief Strategic Officer until his retirement on August 2, 2024.

Appointed

John M. McCaffery

Executive Vice President and Chief Financial Officer

NWFL · NORWOOD FINANCIAL CORP

Effective: 2024-06-24
Filed: June 24, 2024, 7:59 PM ET

the Board of Directors had appointed John M. McCaffery as Executive Vice President and Chief Financial Officer of the Company, and its wholly owned subsidiary, Wayne Bank (the “Bank”), effective as of June 24, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

William S. Lance was appointed as Executive Vice President and Chief Strategic Officer at NORWOOD FINANCIAL CORP.

Action: resigned as CFO and appointed EVP & Chief Strategic Officer
Role: Executive Vice President and Chief Strategic Officer

Exact text from the filing

William S. Lance, previously Executive Vice President and Chief Financial Officer, resigned his position as Chief Financial Officer and has been appointed Executive Vice President and Chief Strategic Officer until his retirement on August 2, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John M. McCaffery was appointed as Executive Vice President and Chief Financial Officer at NORWOOD FINANCIAL CORP.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

the Board of Directors had appointed John M. McCaffery as Executive Vice President and Chief Financial Officer of the Company, and its wholly owned subsidiary, Wayne Bank (the “Bank”), effective as of June 24, 2024.

View on SEC.gov

NORWOOD FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-24-166385

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