Customers Bancorp, Inc. 8-K

What Happened

• Customers Bancorp, Inc. announced on March 19, 2026 that it adopted a Supplemental Executive Retirement Plan for the benefit of Samvir Sidhu. The Plan supersedes the prior supplemental plan adopted for Sidhu on May 3, 2021 and was disclosed in an 8-K filed March 24, 2026.

Key Details

• The Plan is a nonqualified, unfunded deferred compensation arrangement intended to comply with Section 409A of the Internal Revenue Code.
• Monthly benefit of $50,000 payable for the Executive’s lifetime upon Separation from Service after reaching Normal Retirement Age (for reasons other than death).
• Early Termination Benefit: vested monthly lifetime payments if the Executive separates before Normal Retirement Age for reasons other than death or a Change in Control.
• Change in Control Benefit: lifetime monthly payments if the Executive is employed at the time of a Change in Control and is separated without Cause within 12 months after the Change in Control.
• Plan also provides certain disability and death benefits, and includes clawback, non‑compete, non‑disclosure, and non‑solicit provisions; benefits are forfeitable if terminated for Cause. The full Plan is filed as Exhibit 10.1.

Why It Matters

• This establishes a sizable potential long‑term compensation obligation (a $50,000/month lifetime benefit in typical retirement scenarios) for a named executive, which is intended to retain and incentivize continued service. Because the plan is nonqualified and unfunded, the company does not set aside assets now, but could face future cash payment obligations depending on separation events. Investors should note the retention and Change‑in‑Control protections when assessing executive compensation and potential future cash flow impacts.