Short answer
MID PENN BANCORP INC (MPB) filed an 8-K current report with the SEC on August 6, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). New change-in-control agreement with Mr. Stewart, effective July 31, 2026, protecting retention of a key executive.
MID PENN BANCORP INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- New change-in-control agreement with Mr. Stewart, effective July 31, 2026, protecting retention of a key executive
- Double-trigger requirement: corporate change in control plus qualifying termination within 12 months
- Severance equals 2.25× highest annual base salary during the preceding 12 months
- Continued medical, vision and dental eligibility for 27 months or equivalent after-tax cash payment
- Three-year initial term with automatic one-year renewals; post-termination non-solicitation restrictions apply
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