Plumas Bancorp (PLBC) sets 2026 ROA-based bonus plan for executives

Rhea-AI Filing Summary

Plumas Bancorp adopted a cash non-equity incentive plan for 2026 that covers all Plumas Bank employees regularly working at least 20 hours per week. The plan creates two bonus pools, one for officers and one for other employees, with officers allocated 90.9% of the combined pool. Incentives become payable only if the bank’s return on assets exceeds the 50th percentile of a peer group of $1–$3 billion commercial banks as of September 30, 2026.

The total combined bonus pool can reach up to 8.8% of pretax, pre-bonus income as of December 31, 2026, with an example level of 5.5% at the 80.8 percentile. Up to 11.6% of the officers’ pool may go to the CEO and President, and each Executive Vice President can earn up to 4.05%. CEO and EVP bonuses are tied to ROA percentile, performance goals, specific metrics such as loan and deposit growth, asset quality, pre-tax return on equity versus peers, and budgeted net income, along with individual performance evaluations. The board may modify or terminate the plan, and it does not guarantee continued employment.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2026

PLUMAS BANCORP

(Exact name of registrant as specified in its charter)

California		000-49883		75-2987096
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5525 Kietzke Lane, Suite 100 Reno, NV		89511
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (775) 786-0907

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	PLBC	NASDAQ Capital Market

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

2026 Incentive Plan

On January 21, 2026, the Board of Directors of Plumas Bancorp (the “Company”) approved the Company’s cash non-equity incentive plan for 2026 (the “2026 NEI”, the “Plan”). Eligible employees under the 2026 NEI include all employees of the Company’s subsidiary, Plumas Bank (the “Bank”), who are regularly scheduled to work at least 20 hours per week. The aggregate bonus pool is comprised of two pools, one for officers of the Company and one for all other employees. The officers’ portion represents 90.9% of the combined pools. Incentives are payable under the 2026 NEI once the Bank has exceeded the 50th percentile of return on assets (ROA) with ROA calculated as of September 30, 2026, as follows: annualized year to date income before tax¹ divided by average year to date assets. The percentile is calculated based on a peer group composed of commercial banks with total assets as of September 30, 2026, of between $1 billion and $3 billion. The higher the percentile the higher the bonus pool. The maximum total combined bonus pool available for distribution is 8.8% of pretax pre-bonus income as of December 31, 2026. At an 80.8 percentile the combined total bonus pool available for distribution would be 5.5% of pretax, pre-bonus income with the officer’s pool totaling 5% of pretax, pre-bonus income and the other employees sharing in the remaining pool dollars. Up to 11.6% of the officers’ pool could be allocated to the Company’s Chief Executive Officer (“CEO”) and President. Executive Vice Presidents (“EVPs”) each can earn up to 4.05% of the officers’ bonus pool.

Under the 2026 NEI, the cash incentive payment to the Company’s CEO and President will be based 49.6% on the ROA percentile, 16.6% upon the attainment of performance goals, and 16.6% upon meeting various performance metrics with the remaining 17.2% based on the CEO’s performance during 2026, as evaluated by the Company’s Corporate Governance and Compensation Committee. Cash incentive payments for the Company’s EVPs will be based 58.8% on the ROA percentile, 16.8% upon the attainment of performance goals, and 8.4% upon meeting various performance metrics with the remaining 16.0% based on the CEO’s evaluation of the EVP’s performance during 2026.

Goals for the CEO include targeted increases in loans and deposits, exceeding an asset quality benchmark, and achieving selected strategic initiatives. Metrics include exceeding a targeted percentile of return on equity (calculated on a pre-tax basis) based on a peer group composed of commercial banks with total assets as of September 30, 2026, of between $1 billion and $3 billion and exceeding budgeted net income. The Company’s Board of Directors has the ability to terminate or modify the Plan and all payouts under the Plan are subject to approval by the Company’s Corporate Governance and Compensation Committee. The Plan does not give any employee the right to or guarantee of continued employment.

¹ Income may be adjusted by unusual or nonrecurring items of revenue/expense at the discretion of the Company’s Corporate Governance and Compensation Committee.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Plumas Bancorp (Registrant)
January 23, 2026		By:	/s/ Richard L. Belstock
			Name: Richard L. Belstock
			Title: Chief Financial Officer

FAQ

What did Plumas Bancorp (PLBC) announce in this 8-K?

Plumas Bancorp approved a 2026 cash non-equity incentive plan that sets performance-based bonus pools for officers and other employees of Plumas Bank, primarily tied to return on assets and other financial and strategic metrics.

Who is eligible for Plumas Bancorps 2026 incentive plan?

All employees of Plumas Bank who are regularly scheduled to work at least 20 hours per week are eligible to participate in the 2026 cash non-equity incentive plan.

How is the 2026 bonus pool at Plumas Bancorp (PLBC) structured?

The 2026 plan creates two bonus pools: one for officers and one for all other employees. Officers receive 90.9% of the combined pools, with the total combined pool capped at 8.8% of pretax, pre-bonus income as of December 31, 2026.

What performance triggers bonus payments under Plumas Bancorps 2026 plan?

Bonuses are payable only after the bank exceeds the 50th percentile return on assets, calculated as of September 30, 2026, versus a peer group of commercial banks with $1 billion to $3 billion in total assets.

How much of the officers bonus pool can Plumas Bancorps CEO earn?

Under the 2026 plan, up to 11.6% of the officers bonus pool may be allocated to the CEO and President, with payouts based on ROA percentile, performance goals, specific metrics, and a board committee evaluation.

What metrics affect executive bonuses at Plumas Bancorp (PLBC) for 2026?

Executive bonuses are tied to ROA percentile, achievement of performance goals, meeting performance metrics such as loan and deposit growth, asset quality benchmarks, pre-tax return on equity versus peers, and budgeted net income, plus individual performance assessments.

Can Plumas Bancorp change or end the 2026 incentive plan?

Yes. The Board of Directors can terminate or modify the plan, payouts require approval from the Corporate Governance and Compensation Committee, and the plan does not give any employee a right to continued employment.