RBB Bancorp filed SEC Form 8-K: Leadership Update, Other Events, Financial Statements and Exhibits

false 0001499422 0001499422 2024-06-17 2024-06-17

 

 

 

 

 

 

 

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

 

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12 (b) of the Act:

 

 

 

 

On June 25, 2024, RBB Bancorp (the “Company”) announced the appointment of Ms. Diana Hanson as Senior Vice President and Chief Accounting Officer of the Company and the Company’s subsidiary, Royal Business Bank (the “Bank”), with such appointment effective June 17, 2024. Ms. Hanson, age 55, has more than 30 years of experience in the financial services industry, predominantly in Nevada and Southern California, with controller, accounting and Chief Accounting Officer roles at Pacific Western Bank, First Choice Bancorp and First Choice Bank, and Banc of California.

 

 

Effective June 17, 2024, the Company and the Bank entered into an employment arrangement with Ms. Hanson, the material terms of which are summarized herein. Ms. Hanson’s employment is at-will, does not contain a term arrangement and can be terminated at any time by either the Company or Ms. Hanson without payment of severance. She will receive a minimum base salary of $275,000 per year, eligibility for a restricted stock grant with a 4-year vesting, performance-based bonus, expense reimbursement, medical insurance coverage and certain incentives. Ms. Hanson’s employment arrangement contains certain restrictive covenants, including restrictive covenants related to the use of the Company’s or the Bank’s confidential information and misappropriating the Company’s or the Bank’s proprietary information. In the event of termination of Ms. Hanson’s employment for any reason, Ms. Hanson will be subject to a limited non-solicitation provision related to the non-solicitation of any officer or employee of the Company or the Bank. The foregoing is intended only as a summary and is qualified in its entirety by the terms of Ms. Hanson’s employment arrangement.

 

Item 8.01 Other Events.

 

On June 25, 2024, the Company issued a press release related to the appointment of Ms. Diana Hanson as Senior Vice President and Chief Accounting Officer of the Company and the Bank effective June 17, 2024.  A copy of this press release is attached hereto as Exhibit 99.1.

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.