Current Report
Filed: 2026-05-12
Key Insights
- BankUnited modified CFO James Mackey's change-of-control agreement from a single-trigger retention bonus to a double-trigger severance benefit, requiring both a change in control AND termination without cause/for good reason to trigger payment.
- The new arrangement provides Mackey with 2x annual base salary severance over a two-year post-change-of-control period, subject to release of claims, which is a standard executive retention mechanism that protects both the company and executive during M&A scenarios.
- This amendment replaces a prior agreement dated July 22, 2025 (less than one year old), suggesting the company refined its change-of-control compensation strategy, potentially in response to evolving governance best practices or shareholder feedback.