S&T Bancorp, Inc. Employment Agreement Amendment

2026-04-07SEC Filing 8-K (0000719220-26-000033)

This filing reports an amended and restated employment agreement between S&T Bancorp, Inc. ("Company") and its Chief Executive Officer, Christopher McComish, effective January 1, 2026. The agreement has a four-year term with automatic one-year renewals. It establishes a minimum annual base salary of $785,000, eligibility for an annual bonus with a target of 67% of base salary, and long-term incentive awards with a target value of 100% of base salary. Additional benefits include an annual vehicle allowance up to $25,000, club dues reimbursement, and legal fee reimbursement for agreement preparation (up to $25,000). In case of termination without cause or for good reason, Mr. McComish is entitled to severance pay equal to two times his annual base salary plus target bonus (or three times in the event of a change in control), continued COBRA premiums for 24 months (or 36 months post-change in control), and accelerated vesting of long-term incentives under certain conditions. The agreement also includes non-disclosure, non-competition, and non-disparagement clauses.

Ticker mentioned:STBA