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

Issuer:     Western New England Bancorp, Inc. (WNEB)
CIK:        0001157647
Form:       8-K
Filed at:   2023-09-29T23:59:59+00:00
Accession:  0001387131-23-011800
Event type: other_material
Sentiment:  neutral
Materiality: 0.20
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western New England Bancorp adopts non-qualified deferred compensation plan for select executives
--------------------------------------------------------------------------------

- Board adopted Westfield Bank Non-Qualified Deferred Compensation Plan on September 26, 2023.
- Plan allows select management and highly compensated employees, including named executive officers, to defer base salary and cash incentives.
- Participant contributions fully vested at all times; employer may make discretionary contributions.
- Distributions upon separation, death, disability, unforeseeable emergency, or specified future date.
- Plan is unfunded and designed to comply with Section 409A of the Internal Revenue Code.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123011800/0001387131-23-011800-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1157647/000138713123011800/wneb-8k_092623.htm
  HTML page:      https://secwatch.observer/filing/0001387131-23-011800

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