Five Star Bancorp Grants Change-in-Control Severance Package to Top Executives
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Five Star Bancorp's subsidiary, Five Star Bank, has established new change in control agreements with executives Heather Luck and Michael Rizzo. If their employment is terminated without cause or they resign for good reason within a year after a qualifying change in control, they will receive a severance package of 12 months' salary plus their last annual cash bonus, and any outstanding equity awards will fully vest. The agreements expire on December 31, 2028, if no qualifying change occurs.
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