secwatch.observer — SEC 8-K summary
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Issuer:     MainStreet Bancshares, Inc. (MNSB)
CIK:        0001693577
Form:       8-K
Filed at:   2025-12-05T23:59:59+00:00
Accession:  0001437749-25-037010
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CFO Thomas Chmelik to retire Dec 31, 2025; new employment agreement through 2027 with reduced salary
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- CFO Thomas Chmelik will retire as CFO on Dec 31, 2025, but remain Senior EVP and Secretary through Dec 31, 2027.
- New agreement reduces annual base salary from $375,000 to $234,000 effective Jan 1, 2026.
- Chmelik receives $300,000 in life insurance proceeds from a Bank Owned Life Insurance policy.
- He must retain at least 75% of his ~162,000 common shares held as of Nov 26, 2025 until retirement.
- Change-of-control severance: 200% of salary if terminated in 2026, 100% in 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1693577/000143774925037010/0001437749-25-037010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1693577/000143774925037010/main20251203_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-037010

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