secwatch.observer — SEC 8-K summary
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Issuer:     Customers Bancorp, Inc. (CUBI)
CIK:        0001488813
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001488813-24-000044
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Customers Bancorp CFO Carla Leibold departs; $2.5M severance, equity forfeited
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- Carla Leibold separated as CFO on April 10, 2024; agreement signed April 25.
- Severance of $2.5M payable in equal installments over 2 years; all unvested equity forfeited (25k options, 20,685 PSUs, 29,981 RSUs).
- SERP and split-dollar life insurance terminated; noncompete, nonsolicitation, indemnification continue.
- Leibold represents no knowledge of legal/regulatory violations; mutual general release granted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1488813/000148881324000044/0001488813-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1488813/000148881324000044/cubi-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001488813-24-000044

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