Burke & Herbert Financial Services Corp. and its bank subsidiary entered into a change in control agreement with Executive Vice President and Chief Financial Officer Kirtan Parikh on July 6, 2026. The agreement provides for severance benefits if Mr. Parikh is terminated without cause or resigns for good reason within twelve months following a change in control event. Benefits include twenty-four months of base salary, a lump-sum payment equal to two times his target annual incentive bonus from the prior fiscal year, and healthcare premium coverage for up to eighteen months. The agreement requires Mr. Parikh to execute a separation and release agreement containing non-solicitation and non-disparagement clauses. Burke & Herbert Financial Services Corp. operates as a bank holding company providing financial services through its subsidiary.
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