Cvb Financial (CVBF) has provided an announcement.
CVB Financial Corp. renewed and extended its employment agreement with President and CEO David A. Brager until June 30, 2027, before the previous contract’s expiration in 2025. Brager, who has served the company since 2003 and became CEO in 2020, will earn a base salary of $915,000 with potential annual bonuses and equity awards that could significantly increase his compensation. His severance benefits include double his annual salary and bonus if terminated without cause, with additional provisions in case of a change in company control. This strategic move by CVB’s board underscores the value they place on Brager’s leadership.
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