Filing summary
Business context and reporting period
Rhinebeck Bancorp, Inc. filed this Form 8-K regarding an October 1, 2026 action by its wholly owned subsidiary, Rhinebeck Bank. The filing reports a corporate governance and compensation-related matter, not financial results for a reporting period.
Financial metrics
The filing provides no revenue, profit, cash flow, margin, debt, liquidity, or other financial metrics.
Material change
The Bank’s board gave non-renewal notice to each employee with a change in control agreement, including Kevin Nihill, Executive Vice President and Chief Financial Officer of the Bank and Rhinebeck Bancorp. The agreements will expire on December 31, 2027.
Management commentary and outlook
The Bank said the decision reflects a broader change in corporate philosophy to revise and update change in control-related contracts, and does not reflect employee performance or anticipated management changes. The Bank intends to develop a new change in control benefit arrangement for each affected employee. The filing does not specify the replacement arrangement’s terms or timing.
Key facts for investors to verify
- The terms, scope, and expected implementation date of the replacement benefit arrangement.
- Whether the replacement arrangements will differ materially in cost or benefits from the agreements due to expire.
- That the existing agreements remain in effect until December 31, 2027, as stated in the filing.