Bancorp, Inc.: head of commercial lending to depart with $2,500,000 severance

What happened

• Bancorp, Inc. reported in an amendment to a prior Form 8-K that Jeffrey Nager, The Bancorp Bank, N.A.’s head of commercial lending, will depart the Bank on Oct 1, 2026, and that on Oct 2, 2026 he and the Bank entered into a severance and general release agreement. The agreement will become effective on Oct 10, 2026 unless revoked by Mr. Nager before that date.

Key details

• Mr. Nager will receive a cash lump-sum severance payment of $2,500,000, less applicable taxes and withholdings, within 30 days following the Effective Date.
• He will be eligible for outplacement services through a third-party vendor for up to six months following his termination date.
• The Severance Agreement contains customary waiver and release provisions in favor of the Bank and includes non-disparagement, non-solicitation and confidentiality provisions.
• The amendment updates a prior Form 8-K filed on Sep 4, 2026 about the planned departure.

Why it may matter

• The company reported this matter under Item 5.02 (departure of directors or certain officers), which covers officer departures and related agreements such as severance arrangements. This filing does not show why the insider traded or why the company acted.