ECB Bancorp, Inc. /MD/ 8-K

What Happened
On December 17, 2025, the Board of Directors of ECB Bancorp, Inc. and Everett Co-operative Bank approved an amendment to the Change in Control Agreement with John Migliozzi, Executive Vice President and Chief Lending Officer. The amendment increases the severance multiplier in the agreement from 2.0x to 2.5x. The original Agreement is dated December 21, 2022 and remains in effect with all other material terms unchanged.

Key Details

• Approval date: December 17, 2025.
• Executive affected: John Migliozzi, Executive Vice President and Chief Lending Officer.
• Change: severance multiplier increased from 2.0x to 2.5x under the Change in Control Agreement.
• Other terms: the filing states all other material terms and conditions of the Agreement remain unaffected; original Agreement filed as Exhibit 10.3 in the Company’s Dec 22, 2022 Form 8-K and described in the Company’s April 11, 2025 proxy.

Why It Matters
This amendment increases the potential severance payout that would be owed to the named executive if a qualifying change-in-control event occurs, which could raise the bank’s contingent compensation obligations. No cash payment was made as part of this filing, and the change only applies if the Agreement’s change-in-control conditions are triggered. Investors should note the governance and compensation implication but also that the filing does not report any current financial impact or actual severance payment.