CASS Information Systems: consultant agreement with Dwight Erdbruegger

What happened

• The filing says the company entered into an Independent Contractor Agreement with Mr. Dwight Erdbruegger on Oct 7, 2026 in connection with his previously announced retirement.
• The Agreement commences effective as of Oct 7, 2026 and expires on Dec 31, 2026, and may be terminated by either party upon 30 days’ notice.
• The Agreement provides payment of $150.00 per hour, payable monthly, and grants Mr. Erdbruegger full vesting on all 2,318 time-based restricted stock units previously granted under the Restricted Stock Unit Agreement signed on Feb 3, 2026.
• The Agreement includes covenants on non-competition, non-solicitation, confidentiality and intellectual property ownership and was previously approved by the Compensation Committee.

Key details

• Agreement date: Oct 7, 2026; filing date: Oct 8, 2026.
• Term: effective Oct 7, 2026 through Dec 31, 2026; 30 days’ termination notice.
• Compensation: $150.00 per hour, payable monthly.
• Equity: full vesting of 2,318 time-based restricted stock units (granted Feb 3, 2026).

Why it may matter

• The filing is Item 5.02 (departure of directors or certain officers) and reports a post-retirement consulting arrangement and accelerated vesting of restricted stock units for Mr. Dwight Erdbruegger.
• A filing does not show why the insider traded or why the company acted.