secwatch.observer — SEC 8-K summary
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Issuer:     Bank of Marin Bancorp (BMRC)
CIK:        0001403475
Form:       8-K
Filed at:   2021-09-24T23:59:59+00:00
Accession:  0001403475-21-000100
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1403475/000140347521000100/0001403475-21-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1403475/000140347521000100/bmrc-20210923.htm
  HTML page:      https://secwatch.observer/filing/0001403475-21-000100

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