Business Context and Reporting Period
This Form 8-K is a current report filed by First Business Financial Services, Inc. on April 9, 2026. The filing primarily addresses Item 5.02 regarding the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the vesting of equity compensation.
Material Changes
The material event reported is the vesting of Performance Restricted Stock Units (PRSUs) granted in 2023 under the Company's Long-Term Incentive Plan. The Compensation Committee determined that the Company achieved a "Superior" performance level for both Total Shareholder Return (TSR) and Return on Average Tangible Common Equity (ROATCE) for the 2023-2025 performance period. Consequently, the following shares were vested for Named Executive Officers:
- Corey A. Chambas: 10,370 shares
- James E. Hartlieb: 2,730 shares
- Bradley A. Quade: 2,740 shares
- David R. Seiler: 4,780 shares
- Brian D. Spielmann: 3,190 shares
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, outlook, management commentary on future operations, or discussion of risks and contingencies. It is a factual report of a completed compensation event based on historical performance metrics.
Investor Verification Checklist
- Verify the final ROATCE calculation details in the Definitive Proxy Statement (Schedule 14A) filed on March 5, 2026.
- Confirm the total number of shares issued and the associated accounting impact on the Company's equity and compensation expense.
- Review the specific performance thresholds defined in the 2023 Long-Term Incentive Plan to validate the "Superior" rating.