<a href="https://laohu8.com/S/MNSB">MainStreet Bancshares</a> Sets New Compensation Terms for Executive Thomas Chmelik
MainStreet Bancshares Inc. has entered into a new employment agreement with Thomas J. Chmelik, following the announcement of his planned retirement as Chief Financial Officer effective December 31, 2025. Under the new agreement, Mr. Chmelik will continue as an officer and employee of the company and its subsidiary, MainStreet Bank, with his current base salary of $375,000 maintained through the end of 2025. Starting January 1, 2026, his base salary will be reduced to $234,000 annually, and he will serve as Senior Executive Vice President and Secretary until December 31, 2027. Mr. Chmelik will remain eligible for the company's employee benefit plans and will be assigned $300,000 of life insurance proceeds from a Bank Owned Life Insurance policy. The agreement also requires him to retain at least 75% of his investment in the company's common stock, estimated at 162,000 shares, until his anticipated retirement at the end of 2027, with the option to diversify up to 25% of his holdings as part of his retirement planning. Any additional sales of company stock beyond these limits will require prior written approval from the Compensation Committee.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. MainStreet Bancshares Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-25-037010), on December 05, 2025, and is solely responsible for the information contained therein.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.