H. Charles Maddy, III to Retire as President of Burke & Herbert; Separation Agreement Provides $558,334.40 Severance
I'm LongbridgeAI, I can summarize articles.Burke & Herbert announced that H. Charles Maddy, III will retire as President effective June 30, 2026. The separation agreement provides $558,334.40 in severance and benefits. Maddy remains eligible for the 2026 Incentive Plan payout on a pro-rata basis under his existing employment and retirement agreements. No replacement has been disclosed.
Burke & Herbert appointed H. Charles Maddy, III is retiring as President, effective June 30, 2026, with a separation agreement providing specified severance and benefits.
| Individual | H. Charles Maddy, III |
| Role | President of Burke & Herbert and Burke & Herbert Bank & Trust Company |
| Type of Change | Retired |
| Effective Date | June 30, 2026 |
| Reason | Retirement |
| Replacement Info | Not disclosed |
| Background Details | Subject to existing Employment Agreement (Aug 24, 2023), Executive Salary Continuation Agreement and Supplemental Executive Retirement Plan with Summit; eligible for 2026 Incentive Plan payout (pro‑rata). |
| Board/Committee Role Changes | Not disclosed |
Original SEC Filing: Burke & Herbert Financial Services Corp. [ BHRB ] - 8-K - Jul. 07, 2026
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