Business Context and Reporting Period
Company: Mid Penn Bancorp, Inc. (MPB)
Filing Type: Form 8-K
Date of Report: January 5, 2026 (Event Date)
Reporting Period: This filing reports a specific corporate governance event effective January 5, 2026, rather than a financial reporting period.
Key Financial Metrics
This Form 8-K does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The filing focuses exclusively on executive personnel changes and associated compensation arrangements.
Material Changes
The primary material change reported is the appointment of new senior leadership:
- New Appointment: Mr. Dana R. Stewart appointed as First Executive Vice President and Chief Operating Officer, effective January 5, 2026.
- Role Transition: Mr. Jordan D. Space, the former Chief Operating Officer, will transition to serve as President of the Private Bank and manage MPB Financial Services, LLC and its nonbank subsidiaries.
Management Commentary, Risks, and Unusual Items
Compensation Arrangements: In connection with the appointment, Mr. Stewart will receive an annual base salary of $310,000. He is also granted a change in control agreement providing a severance benefit equal to 2.25 times his annual base salary. He is eligible to participate in standard incentive, retirement, and benefit plans.
Background: Mr. Stewart brings over 35 years of financial services experience, most recently serving as Senior Vice President and Director of the Project Management Office for First National Bank (2015–2025) and Managing Director for BNY Mellon (2007–2014).
Risks and Contingencies: No specific risks, contingencies, or unusual items are disclosed in this filing. The text confirms no family relationships exist between Mr. Stewart and current directors or officers.
Investor Verification Checklist
- Verify the effective date of Mr. Stewart's appointment (January 5, 2026) against internal corporate records.
- Review the attached Press Release (Exhibit 99.1) for additional strategic context regarding the leadership transition.
- Confirm the specific terms of the change in control agreement and severance package details in the full employment contract if available.
- Monitor future filings for any impact of this leadership change on the company's strategic direction or operational performance.