RBB Bancorp board finds director Peter Chang not independent due to business ties with CEO Pang

RBB Bancorp

Board determined Peter Chang failed Nasdaq independence standards due to business dealings with executive officer Simon Pang and his family.
Director Christopher Koo deemed not independent until Spring 2023 due to insignificant 2021 business dealings with Simon Pang.
Board approved enhanced independence standard: no payments/exchanges of value between director and any executive officer in prior two years except gifts.
Nominating and Corporate Governance Committee reviewing governance charters and may announce further changes.

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