Rhinebeck Bancorp ends executive deferred comp plan

Q: What plan did Rhinebeck Bancorp (RBKB) terminate on May 19, 2026?

Rhinebeck Bancorp terminated the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan on May 19, 2026, a non-qualified deferred compensation plan for designated bank officers with five-year graded vesting.

Q: Which executives of RBKB participated in the terminated long-term incentive plan?

The filing states that only Jamie Bloom and Kevin Nihill were named executive officers participating in the Executive Long-Term Incentive and Retention Plan at the time of its termination.

Q: When will RBKB executives receive distributions from the terminated plan?

Under Section 409A rules, no distributions will be made earlier than 12 months after the May 19, 2026 Termination Date, and all distributions will occur within 24 months, except those already scheduled absent termination.

Q: What type of plan was the terminated RBKB executive incentive plan?

The executive long-term incentive and retention plan was a non-qualified deferred compensation plan, with contributions credited to bookkeeping accounts for each participant and subject to Section 409A of the Internal Revenue Code.

Filing Impact

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Filing Sentiment

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Form Type

8-K

Rhea-AI Filing Summary

Rhinebeck Bancorp, Inc. reports that on May 19, 2026 the Board of Directors of Rhinebeck Bank, its wholly owned subsidiary, terminated the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan, a non-qualified deferred compensation plan subject to Section 409A of the Internal Revenue Code. The plan credited contributions to bookkeeping accounts for participating officers, with balances vesting 20% annually over five years. Participation was limited to designated officers, and among named executive officers only Jamie Bloom and Kevin Nihill participated. Upon termination, participants’ account balances became fully vested. In accordance with Section 409A, no distributions will occur earlier than 12 months after the Termination Date, and all distributions will be completed within 24 months of that date, aside from payments that would have occurred even without termination.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

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.

Key Figures

Termination Date: May 19, 2026 Vesting schedule: 20% annually over five years Earliest distribution timing: 12 months after Termination Date +1 more

4 metrics

Termination Date May 19, 2026 Date the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan was terminated

Vesting schedule 20% annually over five years Original vesting terms for participant account balances under the plan

Earliest distribution timing 12 months after Termination Date No distributions permitted earlier than 12 months following May 19, 2026

Latest distribution timing 24 months after Termination Date All distributions must be completed within 24 months of May 19, 2026

Key Terms

non-qualified deferred compensation plan, Section 409A, bookkeeping accounts, Termination Date

4 terms

non-qualified deferred compensation plan financial

"The Plan was a non-qualified deferred compensation plan, subject to Section 409A"

An arrangement where an employer agrees to pay part of an employee’s salary or bonus at a later date, often to attract or keep key staff. Think of it as a company IOU or a delayed paycheck held on the company’s books rather than in a protected retirement account; investors care because these promises create future cash obligations that are typically unsecured and depend on the company’s financial health, affecting risk, liabilities, and cash-flow planning.

Section 409A regulatory

"The Plan was a non-qualified deferred compensation plan, subject to Section 409A"

bookkeeping accounts financial

"contributions were credited to bookkeeping accounts for the participants"

Termination Date regulatory

"On May 19, 2026 (the “Termination Date”), the Board of Directors"

Termination date is the specific calendar day when a contract, agreement, option or other legal arrangement stops being in effect and any remaining rights or obligations expire. For investors it matters because that date sets deadlines for exercising rights, receiving payments, closing positions or avoiding penalties—similar to the day a lease or warranty ends, after which parties no longer have the same protections or claims.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What plan did Rhinebeck Bancorp (RBKB) terminate on May 19, 2026?

Rhinebeck Bancorp terminated the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan on May 19, 2026, a non-qualified deferred compensation plan for designated bank officers with five-year graded vesting.

Which executives of RBKB participated in the terminated long-term incentive plan?

The filing states that only Jamie Bloom and Kevin Nihill were named executive officers participating in the Executive Long-Term Incentive and Retention Plan at the time of its termination.

How did plan termination affect vesting for RBKB executives?

In connection with the termination of the executive long-term incentive plan, the participants’ account balances fully vested. Previously, balances vested 20% annually over a five-year period under the plan’s original terms.

When will RBKB executives receive distributions from the terminated plan?

Under Section 409A rules, no distributions will be made earlier than 12 months after the May 19, 2026 Termination Date, and all distributions will occur within 24 months, except those already scheduled absent termination.

What type of plan was the terminated RBKB executive incentive plan?

The executive long-term incentive and retention plan was a non-qualified deferred compensation plan, with contributions credited to bookkeeping accounts for each participant and subject to Section 409A of the Internal Revenue Code.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 04:27 PM Accepted by SEC EDGAR 08/14/2026 - 04:21 PM

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): May 19, 2026

Rhinebeck Bancorp, Inc.

(Exact Name of Registrant as Specified in Charter)


Maryland	001-38779	83-2117268
(State or Other Jurisdiction) of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)

2 Jefferson Plaza, Poughkeepsie, New York		12601
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (845) 454-8555

Not Applicable

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

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, par value $0.01 per share	RBKB	The NASDAQ Stock Market, LLC

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 (17CFR 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. ☐

Item 5.02

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

On May 19, 2026 (the “Termination Date”), the Board of Directors of Rhinebeck Bank, the wholly owned subsidiary of Rhinebeck Bancorp, Inc., terminated the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan (the “Plan”). The Plan was a non-qualified deferred compensation plan, subject to Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) under which contributions were credited to bookkeeping accounts for the participants and vested 20% annually over a five-year period. Participation in the Plan was limited to officers of the Bank designated as participants by resolution of the Board of Directors. Jamie Bloom and Kevin Nihill were the only named executive officers participating in the Plan.

In connection with the termination, the participants’ account balances fully vested. In compliance with the requirements of Section 409A, no distributions will be made earlier than 12 months following the Termination Date, other than distributions that would have been made had the Plan not been terminated, and all distributions will be made no later than 24 months following the Termination Date.

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.


		RHINEBECK BANCORP, INC.



DATE: August 14, 2026	By:	/s/ Kevin Nihill
		Kevin Nihill
		Chief Financial Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents