Carter Bankshares amends employment agreements for CEO Van Dyke, CFO Bell, and other officers

Carter Bankshares, Inc.

CEO Litz H. Van Dyke, CFO Wendy S. Bell, President Bradford N. Langs, COO Matthew M. Speare, and CCO Tony E. Kallsen entered amended agreements.
Agreements update base salary floors, expand clawback provisions, and remove gross-up on auto allowance.
Definition of 'Cause' clarified to include breach of duty of loyalty and narrowed to require 'willful' action for certain failures.
Severance provisions updated to comply with new Virginia law effective July 1, 2026, adding one month of severance.
Confidentiality and noncompetition restrictive covenants updated to comply with law changes and best practices.

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