RBB Bancorp Shuffles Board and Finance Leadership
Ticker: RBB · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1499422
| Field | Detail |
|---|---|
| Company | Rbb Bancorp (RBB) |
| Form Type | 8-K |
| Filed Date | Dec 19, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $600,000, $335,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, board-composition
Related Tickers: RBB
TL;DR
RBB Bancorp's board is changing, with a new CFO stepping in. CEO gets a new contract.
AI Summary
RBB Bancorp announced on December 18, 2024, a series of significant corporate actions. These include the departure of Director Alan J. Rothenberg, the election of new Directors David L. Chen and Michael J. McShane, and the appointment of Michael J. McShane as Chief Financial Officer. Additionally, the company entered into a new employment agreement with its CEO, Robert M. Franklin.
Why It Matters
Changes in board composition and CFO appointments can signal strategic shifts or a focus on financial stability and future growth for the company.
Risk Assessment
Risk Level: medium — Changes in key leadership positions like CFO and board members can introduce uncertainty and potential strategic realignments.
Key Players & Entities
- RBB Bancorp (company) — Registrant
- Alan J. Rothenberg (person) — Departing Director
- David L. Chen (person) — Newly Elected Director
- Michael J. McShane (person) — Newly Elected Director and Appointed CFO
- Robert M. Franklin (person) — CEO
- December 18, 2024 (date) — Date of earliest event reported
- December 19, 2024 (date) — Filing date
FAQ
Who has departed from the RBB Bancorp Board of Directors?
Alan J. Rothenberg has departed from the RBB Bancorp Board of Directors as of December 18, 2024.
Who were elected as new directors to the RBB Bancorp Board?
David L. Chen and Michael J. McShane were elected as new directors to the RBB Bancorp Board, effective December 18, 2024.
What new role has Michael J. McShane taken on?
Michael J. McShane has been appointed as the Chief Financial Officer of RBB Bancorp, in addition to his role as a newly elected director.
Has the CEO of RBB Bancorp entered into a new agreement?
Yes, RBB Bancorp entered into a new employment agreement with its Chief Executive Officer, Robert M. Franklin, effective December 18, 2024.
What is the principal executive office address for RBB Bancorp?
The principal executive offices of RBB Bancorp are located at 1055 Wilshire Blvd., 12th floor, Los Angeles, California 90017.
Filing Stats: 1,914 words · 8 min read · ~6 pages · Grade level 11 · Accepted 2024-12-19 17:08:10
Key Financial Figures
- $600,000 — order to increase his annual salary to $600,000, (iii) modify Paragraph F.1 to increase
- $335,000 — t provides for a minimum base salary of $335,000 per year, subject to periodic upward ad
Filing Documents
- rbb20241218_8k.htm (8-K) — 47KB
- ex_758638.htm (EX-10.1) — 35KB
- ex_758639.htm (EX-10.2) — 113KB
- ex_759460.htm (EX-99.1) — 17KB
- rbbbancorplogo.jpg (GRAPHIC) — 7KB
- 0001437749-24-037974.txt ( ) — 396KB
- rbb-20241218.xsd (EX-101.SCH) — 3KB
- rbb-20241218_def.xml (EX-101.DEF) — 12KB
- rbb-20241218_lab.xml (EX-101.LAB) — 15KB
- rbb-20241218_pre.xml (EX-101.PRE) — 12KB
- rbb20241218_8k_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On December 19, 2024, the Company announced the appointments of Mr. Lee and Mr. Rizkalla, and the changes in status of Mr. Morris and Mr. Liu. A copy of this press release is attached hereto as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 10.1 Second Amendment of Employment Agreement, effective as of January 1, 2025, between RBB Bancorp, Royal Business Bank and Mr. Johnny Lee. 10.2 Employment Agreement, effective as of January 1, 2025, between RBB Bancorp, Royal Business Bank and Mr. Mina Rizkalla. 99.1 Press Release dated December 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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 thereunto duly authorized. RBB BANCORP (Registrant) Date: December 19, 2024 By: /s/ Lynn M. Hopkins Lynn M. Hopkins EVP and Chief Financial Officer 3