UMB Financial Announces Enhanced Change-in-Control Severance Plan for Executives

UMB Financial Corporation has approved new Change in Control Agreements for its named executive officers, providing severance protections in the event of a qualifying termination following a change in control. Under the agreements, if an executive is terminated without cause or resigns for good reason within 24 months of a change in control—or up to six months before such an event—they are eligible for a lump-sum cash severance. The amount is three times the sum of base salary and bonus for the CEO and CEO of UMB Bank, and two times for other officers, calculated based on the higher of their recent average bonus or current target. Additional benefits include a pro-rated annual bonus, 18 months of health coverage premiums, outplacement services up to 25% of base pay, and full acceleration of outstanding equity awards. The agreements continue through December 31, 2026, with automatic one-year renewals unless notice is given.

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