secwatch.observer — SEC 8-K summary
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Issuer:     CVB FINANCIAL CORP (CVBF)
CIK:        0000354647
Form:       8-K
Filed at:   2024-07-03T23:59:59+00:00
Accession:  0001193125-24-174920
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CVB Financial enters employment agreements with four NEOs, providing two-year terms and enhanced severance
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- Agreements effective July 2, 2024, with two-year term through June 30, 2026, and automatic one-year renewals.
- NEOs: CFO E. Allen Nicholson, CCO David F. Farnsworth, COO David C. Harvey, and General Counsel Richard H. Wohl.
- Annual bonus target: 0-60% of base salary metrics-based plus 0-20% discretionary; equity grants target ~100% of base salary per year.
- Change-in-control severance: 2x base salary plus 2x average bonus for prior 2 years, plus 24 months COBRA, plus equity acceleration.
- Severance upon termination without cause is discretionary, determined by Compensation Committee on case-by-case basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354647/000119312524174920/0001193125-24-174920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354647/000119312524174920/d769269d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-174920

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