Short answer
BayCom Corp (BCML) filed an 8-K current report with the SEC on April 9, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). CEO, COO, and CFO terminated without cause effective April 10, 2026, signaling a complete senior-management reset.
BayCom Corp 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO, COO, and CFO terminated without cause effective April 10, 2026, signaling a complete senior-management reset
- Departing executives entitled to $9.23M combined cash severance, healthcare continuation, and immediate vesting of 34,657 restricted shares
- Christopher Baron appointed CEO and William Black Executive Vice Chair effective April 13, 2026, bringing large-bank restructuring and commercial-banking experience
- Kevin Thompson appointed CFO at $450,000 base salary with 60% target bonus and change-in-control severance equal to one year’s salary plus prior bonus
- CEO and Executive Vice Chair each receive two-times salary-plus-target-bonus severance, increasing transition costs and future change-in-control obligations
Item 7.01 · Regulation FD Disclosure
- April 9, 2026 press release disclosed BayCom’s management transition and board changes
- Exhibit 99.1 contains the substantive announcement for investor review
- Regulation FD filing indicates broad public dissemination of previously disclosed leadership changes
Item EX-99.1 · Exhibit EX-99.1
- CEO, CFO and Executive Vice Chairman appointments effective April 13, 2026, signaling a strategic shift toward larger-scale growth and M&A execution
- Founders George Guarini, Janet King and Keary Colwell resign from BayCom’s board effective April 10, 2026, marking major governance turnover
- Incoming team brings experience in balance-sheet restructuring, capital markets and transformational transactions, including PacWest’s $7 billion asset sale
- Strategy targets disciplined organic loan and deposit growth, improved EPS and ROE, then larger Western-region combinations
- Outgoing executives receive contractual separation payments, creating a one-time non-recurring expense; specific terms are in the related Form 8-K
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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