President H. Charles Maddy III retires; separation agreement provides $558K severance, accelerated PRSUs

Burke & Herbert Financial Services Corp.

Retirement effective June 30, 2026; separation agreement signed July 6, 2026.
Cash severance of $558,334.40 (10 months base salary) plus vehicle transfer valued at $58,400.
Accelerated vesting of 6,673.32 performance-based restricted stock units under Merger Incentive Plan.
COBRA coverage for 10 months and retirement gift of approximately $35,375.
Maddy also receives existing benefits from prior employment agreements assumed by the Company.

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