Company: USCB
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000927089-25-000082
Chunk: 18

Company: USCB FINANCIAL HOLDINGS, INC.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 18
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 all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our shares by each non-employee director, and the matters discussed under “Certain Relationships and Related Party Transactions.” After applying these standards, our Board has affirmatively determined that, with the exception of Mr. de la Aguilera, who serves as Chief Executive Officer and President of USCB Financial Holdings and U.S. Century Bank, each of our other directors serving on the Board is an independent director, as defined under the applicable rules.

Leadership Structure.Our Board does not have a formal policy regarding the separation of the roles of Chief Executive Officer and director, including serving as Chairperson of the Board, as our Board believes that it is in the best interests of USCB Financial Holdings and its shareholders to make that determination from time to time based on the position and direction of USCB Financial Holdings and the membership of the Board. Our Board has determined that having our Chief Executive Officer currently serve also as the Chairman of the Board is in the best interests of USCB Financial Holdings and our shareholders at this time. This structure makes best use of the Chief Executive Officer’s extensive knowledge of USCB Financial Holdings and our bank subsidiary U.S. Century Bank and the banking industry. The Board views this arrangement as also providing an efficient nexus between our organization and the Board, enabling the Board to obtain information pertaining to operational matters expeditiously. The Board is aware of the potential conflicts that may arise when an insider chairs the Board, but believes these will be limited by existing safeguards which include the fact that as a bank holding company, the operations of USCB Financial Holdings are highly regulated. However, in light of the determination in 2023 to have the Chairperson and Chief Executive Officer positions be held by the same person, the Board appointed in 2023 a lead independent director.

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Lead Director. In light of the Board’s determination in 2023 that a combined Chairperson and Chief Executive Officer position was (and remains) appropriate for USCB Financial Holdings, the Board determined to appoint a lead independent director because the lead independent director acts to counterbalance the combined Chairperson and Chief Executive Officer position. The Board designates for a term of one year the independent, non-employee director who will lead the non-employee directors’ executive sessions. The lead independent director will, as appropriate:

| • | serve as a liaison between the Chairperson and the independent directors; |

| • | approve information sent to the Board;