ENB Financial Corp.
07/01/2024 | Press release | Distributed by Public on 07/01/2024 12:29
Management Change/Compensation Form 8 K
| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; |
On June 27, 2024, Chad E. Neiss, Senior Executive Vice President/Chief Strategy Officer and Head of Mortgage Division of ENB Financial Corp's (the "Corporation") wholly-owned subsidiary, Ephrata National Bank (the "Bank") transitioned from his position with the Bank effective immediately. The Bank will not replace the role of Chief Strategy Officer at this time and will commence a search to fill the role overseeing the mortgage division.
As a result of the transition, under the employment agreement dated October 28, 2022, made between the Corporation, Bank, and Mr. Neiss, there will be a payment made to fulfill the remaining term of the agreement of approximately sixteen (16) months, totaling $337,500, minus applicable taxes and withholdings.