Avidbank Holdings Appoints Jonathan M. Dale as President

What Happened

• Avidbank Holdings, Inc. announced on August 3, 2026 (via Form 8-K) that it appointed Jonathan M. Dale as President of the company and its wholly owned bank, effective August 3, 2026. Mark D. Mordell will remain Chairman and Chief Executive Officer and will no longer serve as President; Mr. Dale will report to Mr. Mordell.
• Mr. Dale, age 48, brings nearly 30 years of commercial banking experience, most recently serving at Umpqua Bank/Columbia Bank (2016–2025) in senior regional and enterprise roles. He holds an M.B.A. from USC Marshall and completed the Pacific Coast Banking School masters program.

Key Details

• Base salary: $625,000 per year (annualized).
• Annual incentive: eligible for up to 100% of base salary, payable 75% cash / 25% restricted stock (restricted stock subject to a 3‑year annual vesting schedule and plan terms).
• Equity awards: proposed restricted stock award with grant‑date fair value of $500,000 that cliff vests on the 3rd anniversary of the hire (subject to committee approval and continued employment).
• Severance and change‑in‑control (CIC) terms: if terminated without cause, severance equals 50% of annual base salary plus six times the monthly COBRA cost; under the CIC agreement, eligible termination within 18 months after a change in control would trigger (i) a lump sum equal to 2x (base salary + target bonus), (ii) immediate vesting of unvested equity/long‑term awards, and (iii) reimbursement of COBRA payments for 18 months.

Why It Matters

• This is a senior leadership change that separates the President role from the CEO/Chair position and installs an experienced commercial banking executive to run the Bank’s operations. For investors, the filing details the company’s financial commitments tied to Mr. Dale’s hire (salary, potential bonus, equity grants, severance and CIC protections), which could affect future compensation expense and governance considerations. The company also filed a press release announcing the appointment.