Isabella Bank (ISBA) has issued an announcement.
Isabella Bank Corporation’s Board of Directors has implemented a new Clawback Policy affecting all performance-based bonus plans, ensuring accountability in financial incentives. This policy has been integrated into the company’s Supplemental Executive Retirement Plan and Executive Cash Incentive Plan, as well as the Restricted Stock Plan, affecting future compensation and grants. Top executives Jerome E. Schwind and Neil M. McDonnell stand to benefit significantly through additional retirement plan credits and potential restricted stock grants, contingent on meeting specific performance targets, all under the terms of the new Clawback Policy.
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