Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Mr. Gary Fan, Executive Vice President and Chief Operations Officer of Royal Business Bank (the “Bank”), the wholly-owned subsidiary of RBB Bancorp (the “Company”), will conclude his tenure with the Bank effective September 30, 2026, following…
Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Mr. Gary Fan, Executive Vice President and Chief Operations Officer of Royal Business Bank (the “Bank”), the wholly-owned subsidiary of RBB Bancorp (the “Company”), will conclude his tenure with the Bank effective September 30, 2026, following the Company’s and Mr. Fan’s mutual decision on August 31, 2026 that his employment agreement would not be renewed beyond its current expiration date of December 4, 2026. The decision not to renew Mr. Fan’s employment agreement was made as part of the Bank’s leadership transition plan.
Pursuant to the terms of his employment agreement, upon his departure from the Bank, Mr. Fan will be entitled to receive a severance payment in the amount of six (6) months of his current annual base salary. Payment of this severance amount is conditioned upon Mr. Fan’s execution of a general release of claims in favor of the Bank and its officers, directors, employees, shareholders, attorneys, agents and all other related parties.
The Company’s Board of Directors appreciates Mr. Fan’s contributions and leadership during his tenure with the Bank and thanks him for his commitment to facilitating a smooth transition.