secwatch.observer — SEC 8-K summary
======================================

Issuer:     CVB FINANCIAL CORP (CVBF)
CIK:        0000354647
Form:       8-K
Filed at:   2026-06-01T20:15:15+00:00
Accession:  0001193125-26-251450
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CVB Financial renews CEO David Brager contract through June 2029 with enhanced terms
--------------------------------------------------------------------------------

- Third Amended Employment Agreement extends term to June 30, 2029, two years ahead of prior expiration.
- Base salary of $966,000 remains unchanged; target bonus 120% of base (max 180%) under Executive Performance Compensation Plan.
- Expected annual equity grant target 180% of base salary (minimum 150%), in RSUs, PRSUs, or options.
- Severance for without-cause/good-reason termination: 2x base plus 2x avg bonus, paid over 18 months.
- Change-in-control severance: 2.5x base plus 2.5x avg bonus plus 24 months COBRA, payable over 18 months; full vesting of equity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/354647/000119312526251450/0001193125-26-251450-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/354647/000119312526251450/cvbf-20260601.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-251450

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer