<a href="https://laohu8.com/S/MBCN">Middlefield Banc Corp</a>. Approves Executive Bonuses and Accelerated Stock Vesting
Middlefield Banc Corp. has announced new compensation terms for its executive leadership. President and Chief Executive Ronald L. Zimmerly, Jr. will receive a bonus of $230,987, Chief Financial Officer, Executive Vice President and Treasurer Michael C. Ranttila will receive $105,594, and Executive Vice President and Chief Banking Officer Michael L. Cheravitch will receive $85,795, all payable on December 26, 2025. Additional bonuses of $40,000, $19,000, and $11,000 were also approved for Zimmerly, Ranttila, and Cheravitch, respectively. The company has also accelerated the vesting of restricted stock awards granted on March 10, 2023, with Zimmerly set to receive 4,653 shares and Ranttila 3,558 shares before December 31, 2025, ahead of the original March 2026 vesting date. Furthermore, performance share units granted on August 6, 2024, will also vest early: Cheravitch will receive 5,204 performance shares, Ranttila 12,713, and Zimmerly 10,161, by the end of 2025.
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