CEO Russell Colombo to retire Oct 31; Tim Myers named new CEO effective Nov 1

Bank of Marin Bancorp

Russell Colombo retires as CEO of Bank of Marin and Bancorp after 15 years, effective Oct 31, 2021.
Tim Myers, currently President & COO, will become President & CEO on Nov 1 and join the Boards.
Myers' employment agreement includes base salary of $475,000, annual incentive target of 65% up to 130% of base.
Severance upon termination without cause: 12 months' base salary, pro rata bonus, COBRA for 18 months.
Colombo will remain on both Boards; Myers also appointed as director effective Nov 1.

item 5.02 item 9.01

Executive movements

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Appointed

Timothy D. Myers

President and Chief Executive Officer

BMRC · Bank of Marin Bancorp

Effective: 2021-11-01
Filed: September 24, 2021, 7:59 PM ET

Bancorp named Timothy D. Myers, currently President and Chief Operating Officer, age 51, as his successor. Mr. Myers will step into his new role as President and Chief Executive Officer of Bancorp and Bank of Marin on November 1, 2021.

Appointed

Tim Myers

Director

BMRC · Bank of Marin Bancorp

Effective: 2021-11-01
Filed: September 24, 2021, 7:59 PM ET

Also announced on September 24, 2021, was the appointment of Tim Myers as a new Bank and Bancorp Board member, effective November 1, 2021.

Departed

Russell A. Colombo

Chief Executive Officer

BMRC · Bank of Marin Bancorp

Effective: 2021-10-31
Successor: Timothy D. Myers
Filed: September 24, 2021, 7:59 PM ET

Bank of Marin Bancorp (Nasdaq: BMRC) (“Bancorp”) announced the retirement of Russell A. Colombo from his role as Chief Executive Officer of Bancorp and Bank of Marin, Bancorp’s wholly owned subsidiary, to be effective October 31, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy D. Myers was appointed as President and Chief Executive Officer at Bank of Marin Bancorp.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Bancorp named Timothy D. Myers, currently President and Chief Operating Officer, age 51, as his successor. Mr. Myers will step into his new role as President and Chief Executive Officer of Bancorp and Bank of Marin on November 1, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tim Myers was appointed as Director at Bank of Marin Bancorp.

Action: appointed
Role: Director

Exact text from the filing

Also announced on September 24, 2021, was the appointment of Tim Myers as a new Bank and Bancorp Board member, effective November 1, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Russell A. Colombo retired as Chief Executive Officer at Bank of Marin Bancorp.

Action: retired
Role: Chief Executive Officer

Exact text from the filing

Bank of Marin Bancorp (Nasdaq: BMRC) (“Bancorp”) announced the retirement of Russell A. Colombo from his role as Chief Executive Officer of Bancorp and Bank of Marin, Bancorp’s wholly owned subsidiary, to be effective October 31, 2021.

View on SEC.gov

Bank of Marin Bancorp filing history →

Source: SEC EDGAR

accession 0001403475-21-000100

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