Customers adopted a Supplemental Executive Retirement Plan for Lyle Cunningham, providing lifetime monthly benefits and other provisions, effective July 8, 2026.
| IndividualLyle Cunningham | RoleExecutive (participant in Supplemental Executive Retirement Plan) | Type of ChangeAppointment/benefit adoption (Plan established for Executive) | Effective DateJuly 8, 2026 | ReasonTo provide supplemental nonqualified pension benefits and incentivize continued contributions to the Company | Replacement InfoNot disclosed | Background DetailsPlan supplants prior Supplemental Executive Retirement Plan adopted April 27, 2022; intended as nonqualified, unfunded deferred compensation for select management/highly compensated employees; designed to comply with Section 409A | Board/Committee Role ChangesNot disclosed | Key Benefit TermsMonthly lifetime benefit of $12,500 upon Separation after Normal Retirement Age; early termination, change-in-control, disability, and death benefits; clawback, noncompete, nondisclosure, non-solicitation provisions; forfeiture for termination for Cause |
Original SEC Filing:
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