secwatch.observer — SEC 8-K summary
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Issuer:     CVB FINANCIAL CORP (CVBF)
CIK:        0000354647
Form:       8-K
Filed at:   2024-07-01T23:59:59+00:00
Accession:  0001193125-24-173453
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CVB Financial extends CEO David Brager's contract to June 2027 with $915K base salary
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- Base salary set at $915,000/year; target bonus 120% of base, max 180%, under 2023 Executive Incentive Plan.
- Annual equity grant target raised to 180% of base salary (minimum 150%), subject to Compensation Committee discretion.
- Term extended to June 30, 2027 (from prior June 2025 expiration); renews automatically unless 6-month notice given.
- Severance on without-cause termination: 2x base salary plus 2x average prior 2-year bonus, paid over 18 months subject to release.
- On change-in-control termination within 180 days before or 12 months after: same severance plus 24 months of medical/dental; unvested equity vests immediately.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354647/000119312524173453/0001193125-24-173453-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354647/000119312524173453/d836579d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-173453

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