WASHINGTON TRUST BANCORP INC 8-K

What Happened Washington Trust Bancorp, Inc. filed an 8-K reporting that on February 17, 2026 its Compensation & Human Resources Committee approved a Divisional Growth Incentive Plan for four senior officers of its subsidiary bank, The Washington Trust Company. The Plan covers the Bank’s Chief Commercial Banking Officer, Chief Retail Banking Officer, Chief Wealth Management Officer and Chief Retail Lending Officer and links payout to achievement of goals such as disciplined loan growth, stronger core deposit funding, asset quality, revenue growth and key strategic initiatives.

Key Details

• Approval date: February 17, 2026 (Committee of the Board approved the Plan).
• Participants: four named bank officers (Commercial Banking, Retail Banking, Wealth Management, Retail Lending).
• Payout range: 0% to 150% of target based on achievement of performance goals.
• Plan treatment: awards under this Plan are treated as awards under the Washington Trust Bancorp, Inc. 2022 Long Term Incentive Plan (LTIP) and subject to its requirements; the Committee will administer the Plan and set metrics, weightings, payout scales and award opportunities.
• The full Plan is filed as Exhibit 10.1 to the 8-K.

Why It Matters The Plan ties a portion of senior commercial, retail, wealth and lending officers’ compensation directly to divisional growth and risk/quality metrics, aligning incentives with the bank’s strategic objectives (loan growth, deposit funding, asset quality and revenue). For investors, this clarifies management’s approach to promoting targeted growth while preserving asset quality; potential payouts (up to 150% of target) could affect executive compensation expense and long-term equity award dilution under the LTIP depending on performance outcomes.