NB Bancorp, Inc. Announces Board and Officer Changes
Ticker: NBBK · Form: 8-K · Filed: Jan 31, 2025 · CIK: 1979330
| Field | Detail |
|---|---|
| Company | Nb Bancorp, Inc. (NBBK) |
| Form Type | 8-K |
| Filed Date | Jan 31, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: NBBK
TL;DR
NB Bancorp board shakeup, new exec comp details filed.
AI Summary
NB Bancorp, Inc. announced on January 28, 2025, changes in its board of directors and executive officers. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key personnel.
Why It Matters
Changes in leadership and executive compensation can signal shifts in company strategy or financial health, impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in directors and officers, especially if accompanied by shifts in compensation, can indicate internal restructuring or strategic pivots that may carry inherent risks.
Key Numbers
- 001-41899 — SEC File Number (Identifies the specific SEC filing for NB Bancorp, Inc.)
- 93-2560883 — I.R.S. Employer Identification No. (Tax identification number for NB Bancorp, Inc.)
Key Players & Entities
- NB Bancorp, Inc. (company) — Registrant
- January 28, 2025 (date) — Date of earliest event reported
- Maryland (jurisdiction) — State of incorporation
- 1063 Great Plain Avenue, Needham, Massachusetts 02492 (address) — Principal Executive Offices
- 781-444-2100 (phone_number) — Registrant's telephone number
FAQ
What specific roles have seen departures or appointments?
The filing indicates the departure of certain officers and the election of new directors, though specific names and roles are detailed within the document's items.
Are there any new compensatory arrangements for officers?
Yes, the filing explicitly mentions 'Compensatory Arrangements of Certain Officers' as an item being reported, suggesting updates or new agreements.
What is the date of the earliest event reported in this 8-K?
The date of the earliest event reported is January 28, 2025.
In which state is NB Bancorp, Inc. incorporated?
NB Bancorp, Inc. is incorporated in Maryland.
What is the primary business address of NB Bancorp, Inc.?
The primary business address is 1063 Great Plain Avenue, Needham, Massachusetts 02492.
Filing Stats: 580 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2025-01-31 11:09:37
Key Financial Figures
- $0.01 — ich registered Common Stock, Par Value $0.01 Per Share NBBK The Nasdaq Stock Mar
Filing Documents
- form8k.htm (8-K) — 28KB
- ex10-1.htm (EX-10.1) — 7KB
- ex10-2.htm (EX-10.2) — 7KB
- 0000943374-25-000034.txt ( ) — 182KB
- nbbk-20250128.xsd (EX-101.SCH) — 4KB
- nbbk-20250128_lab.xml (EX-101.LAB) — 22KB
- nbbk-20250128_pre.xml (EX-101.PRE) — 16KB
- form8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 28, 2025, Needham Bank (the "Bank"), the wholly owned subsidiary of NB Bancorp, Inc., adopted an amendment to freeze benefits under the Second Amended and Restated Director Retirement Plan (the "DRP") to provide that no additional benefits will accrue on participants' behalf after December 31, 2024 (the "Benefit Freeze Amendment"). In addition, on January 28, 2025, the Bank adopted an amendment to freeze participation in the Needham Bank Nonqualified Deferred Compensation Plan for Officers (the "NQDP") to provide that no new participants may begin participating in the NQDP after January 28, 2025 (the "Participation Freeze Amendment"). The foregoing descriptions of the Benefit Freeze Amendment and the Participation Freeze Amendment do not purport to be complete and are qualified in their entirety by reference to the Benefit Freeze Amendment attached hereto as Exhibit 10.1 and the Participation Freeze Amendment attached hereto as Exhibit 10.2 of this Current Report on Form 8-K and incorporated by reference into this Item 5.02.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Third Amendment to Second Amended and Restated Director Retirement Plan 10.2 First Amendment to Needham Bank Nonqualified Deferred Compensation Plan for Officers 104.1 Cover Page Interactive Data File (Embedded within Inline XBRL document)
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. NB BANCORP, INC. DATE: January 31, 2025 By: /s/ Joseph Campanelli Joseph Campanelli Chairman, President and Chief Executive Officer