Ponce Financial Enters Control Agreement with CFO

Ponce Financial Group Inc ( (PDLB) ) has shared an update.

Ponce Bank has entered into a Change in Control Agreement with its CFO, Sergio Vaccaro, offering certain benefits if there’s a company takeover followed by his termination without cause or resignation for good reason. The benefits include a payout of 1.5 times his average annual salary over the past five years and continued life, medical, and disability coverage. These terms are subject to regulatory conditions.

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