FBIZ · First Business Financial Services, Inc.

The appointment of David R. Seiler as President, CEO, and Class III Director effective May 3, 2026, marks a planned leadership transition from retiring CEO Corey A. Chambas, whose departure was announced in May 2025. Seiler, with over 30 years in financial services including prior roles as the Company's President and COO since 2023, brings continuity and deep operational experience. The five-year Employment Agreement, with automatic renewal absent 60 days' notice, sets a minimum base salary of $600,000, eligibility for incentive plans, and a specific $215,000 RSU grant vesting 15% annually for four years and 40% on the fifth, without retirement provisions. Termination protections include two times base salary severance plus prorated incentives and 18 months health benefits for without Cause/Good Reason exits, enhancing retention for this key executive role. Customary covenants limit competition and solicitation for up to 24 months post-termination, safeguarding Company interests during the transition.