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AI brief of an SEC Form 8-K · CVB Financial (CVBF)

CVB Financial renews CEO David Brager's employment agreement through June 30, 2029

Neutral Impact 4 of 5 leadership Written later

CVB Financial and Citizens Business Bank signed a Third Amended and Restated Employment Agreement with CEO David A. Brager on June 1, 2026, extending his term to June 30, 2029, about three years early. The filing sets his base salary at $966,000, a target bonus of 120% of salary, and expanded severance and change-in-control terms.

Key points

  • Agreement dated June 1, 2026 extends the prior term that was set to end June 30, 2027, through June 30, 2029.
  • Base salary is $966,000 annualized; target bonus is 120% of salary, with a maximum of 180%.
  • Annual equity grants are targeted at 180% of base salary, with a minimum grant value of 150%.
  • Severance on termination without cause or for good reason is 2x base pay plus 2x average bonus, payable over 18 months; change-in-control severance is 2.5x.

The filing

CompanyCVB Financial (CVBF)
Form8-K, current report
Filed with the SECJun 1, 2026, 4:15 PM ET
Accession number0001193125-26-251450

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 01, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.