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FIRST BUSINESS FINANCIAL SERVICES, INC. (FBIZ) filed an 8-K current report with the SEC on April 16, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). David R. Seiler becomes President and CEO on May 3, 2026, succeeding retiring CEO Corey A. Chambas.
FIRST BUSINESS FINANCIAL SERVICES, INC. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- David R. Seiler becomes President and CEO on May 3, 2026, succeeding retiring CEO Corey A. Chambas
- Internal succession: Seiler has served as President and COO since January 2023, supporting leadership continuity
- Seiler joins the Board as a Class III director through the 2028 annual meeting
- Five-year employment agreement with minimum $600,000 base salary and eligibility for annual and long-term incentives
- $215,000 restricted-stock-unit grant vests over five years, aligning executive retention with shareholder outcomes
- Without-Cause or Good-Reason termination triggers severance equal to two times base salary plus incentive payments and up to 18 months’ health coverage
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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