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AI brief of an SEC Form 8-K · Private Bancorp of America, Inc. (PBAM)

Private Bancorp of America signs three-year employment agreement with CFO Cory Stewart

Neutral Impact 2 of 5 leadership Written later

Private Bancorp of America, Inc. disclosed that CFO Cory Stewart entered into a three-year employment agreement with its subsidiary, CalPrivate Bank, effective September 5, 2026. The filing sets his minimum base salary, bonus target and severance terms, and it does not report a change in his role or in the company's financial results.

Key points

  • Minimum annual base salary of $425,000, subject to annual review by the Board
  • Target annual incentive bonus of 40% of base salary, beginning with the 2026 performance period
  • If terminated without cause or for good reason, severance of 18 months of base salary plus a prorated bonus; 24 months of base salary plus the full target bonus if terminated within one year after a change of control
  • Eight-month employee non-solicitation period after employment ends

The filing

CompanyPrivate Bancorp of America, Inc. (PBAM)
Form8-K, current report
Filed with the SECSep 11, 2026, 4:01 PM ET
Accession number0001193125-26-389249

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:53 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 September 11, 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.