Catalyst Bancorp Announces Employment Agreements for COO and CFO

What Happened
Catalyst Bancorp, Inc. (via its wholly owned subsidiary Catalyst Bank) filed an 8-K on Sept. 15, 2026 to disclose that it entered into three‑year employment agreements, effective Sept. 13, 2026, with Amanda Quebedeaux (Chief Operations Officer) and Jacques Bourque (Chief Financial Officer). The agreements run through Sept. 12, 2029 and may be reviewed by the Board for possible extension prior to expiration.

Key Details

• Term: Sept. 13, 2026 – Sept. 12, 2029 (Board may review to extend).
• Base salaries: Quebedeaux $162,500; Bourque $117,500 (subject to Board discretion to increase).
• Severance on involuntary termination (or voluntary resignation for material breach/good reason): lump-sum equal to 12 months’ base salary, plus continued health coverage up to 12 months (payments conditioned on Executive signing a release).
• Change-in-control protection: if terminated without cause or for good reason at or within 30 days after a change in control, Executive receives 12 months’ pay (greater of salary at change-in-control or termination date) and up to 12 months’ health coverage.
• Termination for cause: no post‑termination compensation except vested benefits; death: estate receives 12 weeks’ salary and 12 weeks of continued family health coverage.

Why It Matters
These agreements formalize compensation and severance protections for two senior officers responsible for operations and finance. Investors should note the fixed base salaries, the 12‑month severance and change‑in‑control provisions (which provide payout protection in certain termination scenarios), and that the Board retains discretion to adjust salaries or extend terms. Such employment terms can affect ongoing operating costs and governance considerations, especially around executive retention and potential change‑in‑control events.