RBB Bancorp CEO David Morris to retire after May 2025 annual meeting

RBB Bancorp

Morris will retire effective after the shareholder meeting expected May 21, 2025.
Separation package includes base salary through May 31, 2025, plus Medicare cost reimbursement through Dec 2025.
Change-in-control in 2025 triggers a lump-sum equal to annual salary and immediate vesting of all equity awards.
Unvested equity awards continue vesting during Morris's board tenure and fully vest if he leaves the board for any reason.
No successor CEO has been announced; Morris's Employment Agreement from April 2017 is superseded.

item 5.02

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Departed

David Morris

Chief Executive Officer

RBB · RBB Bancorp

Effective: 2025-05-21
Filed: April 11, 2025, 7:59 PM ET

On February 26, 2025, RBB Bancorp (the “Company”) and its wholly-owned subsidiary, Royal Business Bank (the “Bank”), entered into an Agreement and Release of Claims (the “Retirement Agreement”) with Mr. David Morris, the Company’s Chief Executive Officer, confirming the terms of his retirement and voluntary termination of his employment following the next annual meeting of the Company’s shareholders, which is expected to be held May 21, 2025.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Morris retired as Chief Executive Officer at RBB Bancorp.

Action: retired
Role: Chief Executive Officer

Exact text from the filing

On February 26, 2025, RBB Bancorp (the “Company”) and its wholly-owned subsidiary, Royal Business Bank (the “Bank”), entered into an Agreement and Release of Claims (the “Retirement Agreement”) with Mr. David Morris, the Company’s Chief Executive Officer, confirming the terms of his retirement and voluntary termination of his employment following the next annual meeting of the Company’s shareholders, which is expected to be held May 21, 2025.

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RBB Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-25-011698

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