Community West Bancshares Files 8-K on Officer/Director Changes

TL;DR

CVCY 8-K filed: Director/Officer changes and compensation details reported as of Jan 28, 2025.

AI Summary

Community West Bancshares filed an 8-K on January 31, 2025, reporting on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements. The filing date is January 31, 2025, with the earliest event date being January 28, 2025. The company is incorporated in California and headquartered in Fresno.

Why It Matters

This filing indicates potential shifts in the leadership and governance structure of Community West Bancshares, which could impact strategic direction and operational oversight.

Risk Assessment

Risk Level: low — This is a routine corporate filing detailing changes in directors and officers, not indicating any immediate financial distress or significant operational disruption.

Key Numbers

• 20250128 — Earliest Event Date (Date of the earliest event reported in the 8-K)
• 20250131 — Filing Date (Date the 8-K was filed with the SEC)

Key Players & Entities

• Community West Bancshares (company) — Registrant
• Central Valley Community Bancorp (company) — Former company name
• Fresno, CA (location) — Principal executive offices and mailing address

FAQ

Key Financial Figures

• $220,000 — M. Cagle Chief Human Resources Officer $220,000 25% James J. Kim Chief Executive Off
• $625,000 — James J. Kim Chief Executive Officer $625,000 60% Blaine C. Lauhon Chief Operating
• $310,000 — aine C. Lauhon Chief Operating Officer $310,000 45% Shannon R. Livingston Chief Fina
• $350,000 — R. Livingston Chief Financial Officer $350,000 50% Jeffrey M. Martin Chief Banking
• $320,000 — Timothy J. Stronks Chief Risk Officer $320,000 20% All of the executive employment
• $125,000 — greement provides Ms. Livingston with a $125,000 annual payment (subject to a 3% increas

Filing Documents

• cvcy-20250128.htm (8-K) — 53KB
• exhibit101_employmentagree.htm (EX-10.1) — 149KB
• exhibit102_employmentagree.htm (EX-10.2) — 150KB
• exhibit103_employmentagree.htm (EX-10.3) — 149KB
• exhibit104_employmentagree.htm (EX-10.4) — 151KB
• exhibit105_employmentagree.htm (EX-10.5) — 148KB
• exhibit106_employmentagree.htm (EX-10.6) — 148KB
• exhibit107_shannonlivingst.htm (EX-10.7) — 102KB
• exhibit108_shannonlivingst.htm (EX-10.8) — 63KB
• exhibit109_kimscp1stamendm.htm (EX-10.9) — 6KB
• 0001628280-25-003342.txt ( ) — 1471KB
• cvcy-20250128.xsd (EX-101.SCH) — 2KB
• cvcy-20250128_def.xml (EX-101.DEF) — 4KB
• cvcy-20250128_lab.xml (EX-101.LAB) — 23KB
• cvcy-20250128_pre.xml (EX-101.PRE) — 15KB
• cvcy-20250128_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Employment Agreements On January 30, 2025, Central Valley Community Bancorp (the "Company"), and its wholly owned bank subsidiary, Central Valley Community Bank (the "Bank"), entered into six employment agreements with the following executive officers of the Company and the Bank, with the following titles and compensation (which may be increased from time to time). These employment agreements supersede and replace in their entirety prior employment agreements that these individuals had with the Company or the Bank, as applicable: Name Title Salary Incentive Bonus Dawn M. Cagle Chief Human Resources Officer $220,000 25% James J. Kim Chief Executive Officer $625,000 60% Blaine C. Lauhon Chief Operating Officer $310,000 45% Shannon R. Livingston Chief Financial Officer $350,000 50% Jeffrey M. Martin Chief Banking Officer $310,000 40% Timothy J. Stronks Chief Risk Officer $320,000 20% All of the executive employment agreements provide for substantially similar terms. In addition to the salaries listed above, each executive officer is eligible to benefit and participate in deferred compensation plans and receive an annual incentive bonus under the Company's Senior Management Incentive Plan, which provides for an annual incentive bonus with a target amount as a percentage of the executive officer's base salary as set forth above. Each executive officer will be provided with a company automobile or an automobile allowance set forth in each employment agreement. Additionally, the executive officers will receive paid vacation and restricted shares of Company common stock based on each executive officer's base salary. Under the executive employment agreements, the executive officer's employment may be terminated for "cause" (as defined in the employment agreements). In the event that th

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits 10.1 Employment Agreement between Community West Bank and Dawn M. Cagle, dated January 30, 2025. 10.2 Employment Agreement among Community West Bancshares, Community West Bank, and James J. Kim, dated January 30, 2025. 10.3 Employment Agreement between Community West Bank and Blaine C. Lauhon, dated January 30, 2025. 10.4 Employment Agreement among Community West Bancshares, Community West Bank, and Shannon R. Livingston, dated January 30, 2025. 10.5 Employment Agreement between Community West Bank and Jeffrey M. Martin, dated January 30, 2025. 10.6 Employment Agreement between Community West Bank and Timothy J. Stronks, dated January 30, 2025. 10.7 Salary Continuation Agreement by and between Community West Bank and Shannon R. Livingston, dated January 30, 2025. 10.8 Split Dollar Life Insurance Agreement by and between Community West Bank and Shannon R. Livingston, dated January 30, 2025. 10.9 First Amendment to Amended Executive Salary Continuation Agreement by and between Community West Bank and James J. Kim, dated January 30, 2025.

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. Dated: January 31, 2025 COMMUNITY WEST BANCSHARES By: /s/ Shannon R. Livingston Shannon R. Livingston Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR