Rhinebeck Bancorp, Inc. terminated the Rhinebeck Bank Executive Long-Term Incentive and Retention Plan on May 19, 2026. This non-qualified deferred compensation plan allowed contributions to vest 20% annually over five years for designated officers. Upon termination, account balances for participants Jamie Bloom and Kevin Nihill fully vested. Distributions are restricted by Section 409A of the Internal Revenue Code, with payments commencing no earlier than 12 months after May 19, 2026, and concluding no later than 24 months thereafter. Rhinebeck Bancorp operates as a bank holding company in the financial services industry.
