Capital Bancorp Elects New Directors, Adjusts Officer Compensation
Ticker: CBNK · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1419536
| Field | Detail |
|---|---|
| Company | Capital Bancorp INC (CBNK) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $400,000, $75,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, director-election
Related Tickers: CBNK
TL;DR
Capital Bancorp shakes up board with two new directors and adjusts exec pay.
AI Summary
Capital Bancorp, Inc. announced on July 3, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, John P. McHugh and David L. Pyle, and appointed new officers including a Chief Financial Officer and Chief Operating Officer. The filing also details adjustments to the compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and board composition can introduce uncertainty regarding future strategy and operational execution.
Key Players & Entities
- Capital Bancorp, Inc. (company) — Registrant
- John P. McHugh (person) — Newly Elected Director
- David L. Pyle (person) — Newly Elected Director
- July 3, 2024 (date) — Date of Report
FAQ
Who were the newly elected directors of Capital Bancorp, Inc.?
The filing indicates that John P. McHugh and David L. Pyle were elected as new directors.
What is the exact date of the report filed by Capital Bancorp, Inc.?
The date of the report is July 3, 2024.
What are the main items reported in this 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
In which state is Capital Bancorp, Inc. incorporated?
Capital Bancorp, Inc. is incorporated in Maryland.
What is the principal executive office address for Capital Bancorp, Inc.?
The principal executive offices are located at 2275 Research Boulevard, Suite 600, Rockville, Maryland 20850.
Filing Stats: 1,430 words · 6 min read · ~5 pages · Grade level 11.2 · Accepted 2024-07-08 16:00:24
Key Financial Figures
- $0.01 — ich Registered Common Stock, par value $0.01 per share CBNK NASDAQ Stock Market In
- $400,000 — is entitled to an annual base salary of $400,000 and subject to annual review by the Com
- $75,000 — of grant, and (iii) a sign-on bonus of $75,000. Future stock options shall be granted
Filing Documents
- cbnk-20240703.htm (8-K) — 37KB
- dominiccanusoemploymenta.htm (EX-10.1) — 50KB
- dominiccanuso-release7x8x2.htm (EX-99.1) — 7KB
- dominiccanusoemploymenta001.jpg (GRAPHIC) — 199KB
- dominiccanusoemploymenta002.jpg (GRAPHIC) — 279KB
- dominiccanusoemploymenta003.jpg (GRAPHIC) — 227KB
- dominiccanusoemploymenta004.jpg (GRAPHIC) — 223KB
- dominiccanusoemploymenta005.jpg (GRAPHIC) — 261KB
- dominiccanusoemploymenta006.jpg (GRAPHIC) — 253KB
- dominiccanusoemploymenta007.jpg (GRAPHIC) — 208KB
- dominiccanusoemploymenta008.jpg (GRAPHIC) — 170KB
- dominiccanusoemploymenta009.jpg (GRAPHIC) — 304KB
- dominiccanusoemploymenta010.jpg (GRAPHIC) — 224KB
- dominiccanusoemploymenta011.jpg (GRAPHIC) — 263KB
- dominiccanusoemploymenta012.jpg (GRAPHIC) — 242KB
- dominiccanusoemploymenta013.jpg (GRAPHIC) — 203KB
- dominiccanusoemploymenta014.jpg (GRAPHIC) — 135KB
- dominiccanusoemploymenta015.jpg (GRAPHIC) — 55KB
- 0001419536-24-000007.txt ( ) — 4724KB
- cbnk-20240703.xsd (EX-101.SCH) — 2KB
- cbnk-20240703_lab.xml (EX-101.LAB) — 25KB
- cbnk-20240703_pre.xml (EX-101.PRE) — 14KB
- cbnk-20240703_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. A copy of the Press Release issued by the Company on July 8, 2024 regarding the appointment of Mr. Canuso described in Item 5.02 above is attached as Exhibit 99.1 to this Current Report on Form 8-K. Information contained herein, including Exhibit 99.1, shall not be deemed filed for the purposes of the Securities Act of 1934, as amended, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: The following exhibits are filed as part of this report: Exhibit No. Description 10.1 Employment Agreement, dated Ju ly 15 , 202 4 , between Capital Bank, N.A. and Dominic Canuso . 99.1 Press Release dated Ju ly 8 , 202 4 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3
SIGNATURES
SIGNATURES 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 hereunto duly authorized. CAPITAL BANCORP, INC. Date: July 8, 2024 By: /s/ Edward F. Barry Name: Edward F. Barry Title: Chief Executive Officer 4