MainStreet Bancshares Announces CFO Succession Plan and Capital Activities

The financial leadership at MainStreet Bancshares is set for a multi-year, structured transition. The company's Chief Financial Officer, Thomas J. Chmelik, will retire from his executive role at the end of 2025, according to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Friday.

Chmelik's departure from the CFO office is scheduled for December 31, 2025. Following this, he will assume the position of Senior Executive Vice President and Secretary, a role he will hold from January 1, 2026, through December 31, 2027. His annual salary will be adjusted downward during this period, moving from its current level of $375,000 to $234,000. The employment agreement also includes provisions for severance in the event of a corporate takeover, ensuring a clear contractual framework for his final years with the institution.

This planned succession aims to facilitate an orderly handover of financial responsibilities and retain the knowledge of the long-tenured finance chief.

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Insider Transaction and Dividend Declaration

The succession announcement comes alongside disclosures of recent insider trading activity. On December 3, Chmelik sold 9,771 shares of the bank's stock at prices ranging between $19.50 and $19.86 per share. This transaction had a total approximate value of $193,674. His new employment agreement permits him to diversify up to 25% of his remaining equity holdings prior to his final retirement in 2027.

In a separate capital markets activity, the board of directors declared the quarterly dividend for the company's Series A preferred stock. Shareholders of record as of December 15 will receive a payment of approximately $0.47 per depositary share on December 30, underscoring the firm's ongoing capital return policy.

Market Context and Investor Focus

MainStreet Bancshares shares are currently trading around the $19.70 level, giving the company a market capitalization of roughly $143 million. Investor attention is now likely to center on the seamless execution of the financial leadership transition over the coming years, culminating at the end of 2025.