FIRST NORTHERN COMMUNITY BANCORP 8-K

What Happened First Northern Community Bancorp (through its subsidiary First Northern Bank) announced on January 6, 2026 that it entered into two executive participation agreements: an Executive Retirement/Retention Participation Agreement with Executive Vice President and Chief Financial Officer Kevin Spink, and a Supplemental Executive Retirement Plan Participation Agreement with Executive Vice President and Chief Credit Officer Brett Hamilton. Mr. Spink’s Award size will be tied to annual performance goals set by the Compensation Committee and will fully vest on his 65th birthday if he remains in continuous service; unvested Awards are forfeited for resignations without “good reason” or terminations for “cause,” but vest 100% on termination without cause, voluntary termination for good reason, within 24 months after a change in control, or on death or disability. Mr. Hamilton’s participation modifies the Plan’s benefit calculation by crediting additional years of service (2 years if termination occurs on/after age 60 but before 62; 4 years if on/after age 62), guarantees a minimum annual benefit of $50,000 (paid monthly), and provides that if involuntarily terminated without cause or for good reason within 24 months after a change in control, his benefit will be at least the actuarial equivalent of service to age 65 and paid in a lump sum.

Key Details

• Agreements effective January 6, 2026, between First Northern Bank and EVP/CFO Kevin Spink and EVP/CCO Brett Hamilton.
• Spink: Award tied to annual performance goals; full vesting at age 65 with acceleration on certain terminations (without cause, for good reason, change in control window, death/disability).
• Hamilton: credited with +2 or +4 years of service depending on termination age, minimum $50,000 annual benefit paid monthly, and change-in-control protections that can produce a lump-sum actuarial equivalent to accrual to age 65.
• Full agreements are filed as Exhibits 10.1 and 10.2 to the 8-K.

Why It Matters These agreements formalize retirement and retention protections for two senior executives (CFO and CCO), which can affect future compensation expense and create contingent obligations for the bank—especially if a change in control or qualifying termination occurs. For investors, the filing signals the company’s steps to retain key leadership and manage succession risk; the specific vesting accelerations and minimum benefit guarantees are the primary items that could drive future cash outlays or lump-sum payments.