First Business vests 2023 performance shares
First Business Financial Services, Inc. reported that its Board Compensation Committee approved vesting of 2023 performance restricted stock units for executive officers under the Long-Term Incentive Plan.
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Form Type
8-K
Rhea-AI Filing Summary
First Business Financial Services, Inc. reported that its Board Compensation Committee approved vesting of 2023 performance restricted stock units for executive officers under the Long-Term Incentive Plan. The award covered a 2023–2025 performance period and was based on “Superior” results for both Total Shareholder Return and Return on Average Tangible Common Equity. As a result, shares of common stock vested for named executives, including 10,370 shares for CEO Corey A. Chambas and smaller grants for four other officers.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
CEO shares vested: 10,370 shares
President shares vested: 2,730 shares
Executive shares vested: 2,740 shares
+3 more
6 metrics
CEO shares vested
10,370 shares
2023 PRSU award for Corey A. Chambas
President shares vested
2,730 shares
2023 PRSU award for James E. Hartlieb
Executive shares vested
2,740 shares
2023 PRSU award for Bradley A. Quade
Executive shares vested
4,780 shares
2023 PRSU award for David R. Seiler
CFO shares vested
3,190 shares
2023 PRSU award for Brian D. Spielmann
Par value per share
$0.01
Common Stock, $0.01 par value listed on Nasdaq
Key Terms
Performance Restricted Stock Units, Total Shareholder Return, Return on Average Tangible Common Equity, Long-Term Incentive Plan, +1 more
5 terms
Performance Restricted Stock Units financial
"approved the vesting of the Performance Restricted Stock Units, or “PRSUs”, granted to eligible executive officers"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
Return on Average Tangible Common Equity financial
"determined by Total Shareholder Return (“TSR”) and Return on Average Tangible Common Equity (“ROATCE”)"
A profitability ratio that shows how much profit common shareholders earn from the bank’s tangible equity — the shareholder capital left after removing goodwill, intangible assets and preferred stock — averaged over a period. Investors use it like a yield on the company’s real, hard capital to judge how efficiently management turns those tangible resources into earnings and to compare returns across banks or over time.
Long-Term Incentive Plan financial
"granted to eligible executive officers of the Company in 2023 under its Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Named Executive Officers financial
"payout of the Company’s common stock to each of the Company’s Named Executive Officers listed below"
Named executive officers are the senior company leaders whose names, roles and compensation are singled out in required regulatory filings; this typically includes the chief executive, chief financial officer and the next highest‑paid senior officers. Investors treat this list like a team roster — it shows who makes key decisions, how they are paid and whether incentives align with shareholder interests, so changes or pay patterns can signal governance quality, risk or strategic shifts.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did First Business Financial Services (FBIZ) disclose in this 8-K?
First Business Financial Services disclosed that its Compensation Committee approved vesting of 2023 performance restricted stock units for executive officers, after determining the company achieved “Superior” performance on Total Shareholder Return and Return on Average Tangible Common Equity over the 2023–2025 measurement period.
Which performance metrics drove the 2023 PRSU payout at First Business (FBIZ)?
The payout of the 2023 performance restricted stock units was driven by company performance on two goals: Total Shareholder Return and Return on Average Tangible Common Equity. The Committee determined First Business achieved a “Superior” level on both metrics over the 2023–2025 performance period.
Which other First Business (FBIZ) executives received vested 2023 PRSUs and how many?
In addition to CEO Corey A. Chambas, vesting covered James E. Hartlieb with 2,730 shares, Bradley A. Quade with 2,740 shares, David R. Seiler with 4,780 shares, and Brian D. Spielmann with 3,190 shares of First Business common stock under the 2023 award.
What period did the 2023 PRSU award at First Business (FBIZ) cover?
The 2023 performance restricted stock unit award at First Business covered a performance measurement period beginning in 2023 and ending in 2025. The Compensation Committee evaluated Total Shareholder Return and Return on Average Tangible Common Equity over that full timeframe before approving vesting.
When did First Business (FBIZ) approve vesting of the 2023 PRSU award?
The Compensation Committee approved vesting of the 2023 performance restricted stock unit award effective April 9, 2026. This decision came after previously disclosing in a March 5, 2026 proxy statement that the exact shares earned were still pending final Return on Average Tangible Common Equity information.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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