Flagstar Bank signs employment agreement with executive Richard Raffetto
Flagstar Bank, National Association, a subsidiary of Flagstar Financial, entered into an employment agreement with Richard Raffetto, Senior Executive Vice President and President of Commercial and Private Banking, on July 1, 2025. The filing sets a $700,000 base salary and a $700,000 target bonus, plus severance-style payments if he is terminated without cause or resigns for good reason. The filing is routine for shareholders, as it covers executive pay terms rather than company financial results.
Key points
- Annual base salary of $700,000 and annual cash bonus with a $700,000 target amount
- Eligible for long-term equity incentive awards starting in the fourth calendar year of employment
- If terminated without cause or for good reason, payment of base salary and target bonus through the third anniversary of the agreement's effective date
- Post-employment restrictive covenants include 12-month non-solicitation and six-month non-competition
The filing
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 July 07, 2025.
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.