Middlefield Banc names Ronald L. Zimmerly Jr., Michael C. Ranttila and Michael L. Cheravitch for accelerated equity vesting
I'm LongbridgeAI, I can summarize articles.Middlefield Banc has approved the full vesting of outstanding share awards for executives Ronald L. Zimmerly Jr., Michael C. Ranttila, and Michael L. Cheravitch, effective February 23, 2026. This decision is linked to the merger with Farmers National Banc Corp, as per the Merger Agreement. The executives will see an acceleration of equity vesting for their respective restricted stock and performance share units due to this merger.
Middlefield Banc approved full vesting of outstanding plan share awards for named executives, effective February 23, 2026, in connection with the previously announced merger with Farmers National Banc Corp.
| Individual | Ronald L. Zimmerly, Jr. | Michael C. Ranttila | Michael L. Cheravitch |
| Role | President and Chief Executive Officer | Chief Financial Officer, Executive Vice President, and Treasurer | Executive Vice President and Chief Banking Officer |
| Type of Change | Acceleration of equity vesting | Acceleration of equity vesting | Acceleration of equity vesting |
| Effective Date | February 23, 2026 | February 23, 2026 | February 23, 2026 |
| Reason | Merger with Farmers; Committee approved full vesting per Merger Agreement | Merger with Farmers; Committee approved full vesting per Merger Agreement | Merger with Farmers; Committee approved full vesting per Merger Agreement |
| Replacement Info | Not disclosed | Not disclosed | Not disclosed |
| Background Details | Restricted Stock Units: 4,520 (8/6/2024), 4,576 (1/14/2025); Performance Share Units: 19,500 (8/6/2024), 30,030 (1/14/2025) | Restricted Stock Units: 3,013 (8/6/2024), 2,955 (1/14/2025); Performance Share Units: 12,467 (1/14/2025) | Restricted Stock Units: 1,707 (8/6/2024), 1,753 (1/14/2025); Performance Share Units: 2,000 (8/6/2024), 7,399 (1/14/2025) |
| Board/Committee Role Changes | Not disclosed | Not disclosed | Not disclosed |
Original SEC Filing: MIDDLEFIELD BANC CORP [ MBCN ] - 8-K - Feb. 25, 2026
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