BHRB Chief Credit Officer to retire Dec 31; anticipates separation agreement

Burke & Herbert Financial Services Corp.

Jeffrey A. Welch, Chief Credit Officer of Burke & Herbert Bank, to retire effective Dec 31, 2024.
Retirement is part of the Bank's overall succession plan; he will continue in role until year-end.
He will continue in Management Incentive Plan and Supplemental Executive Retirement Plan until retirement.
Anticipated separation agreement includes one year salary continuation plus benefits and vesting of time-based RSUs.
Agreement will include customary confidentiality, non-disparagement, and non-solicitation provisions for one year post-retirement.

item 5.02 item 9.01

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Departed

Jeffrey A. Welch

Chief Credit Officer

BHRB · Burke & Herbert Financial Services Corp.

Effective: 2024-12-31
Filed: November 13, 2024, 6:59 PM ET

Jeffrey A. Welch, Chief Credit Officer for Burke & Herbert Bank & Trust Company (the “Bank”), a wholly owned subsidiary of Burke & Herbert Financial Services Corp. (the “Company”), has notified the Company of his intention to retire effective December 31, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Jeffrey A. Welch departed as Chief Credit Officer at Burke & Herbert Financial Services Corp..

Action: retire
Role: Chief Credit Officer

Exact text from the filing

Jeffrey A. Welch, Chief Credit Officer for Burke & Herbert Bank & Trust Company (the “Bank”), a wholly owned subsidiary of Burke & Herbert Financial Services Corp. (the “Company”), has notified the Company of his intention to retire effective December 31, 2024.

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Source: SEC EDGAR

accession 0001964333-24-000365

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