Robert Walsh, Executive Vice President and Chief Lending Officer of Bogota Savings Bank, a wholly owned subsidiary of Bogota Financial Corp., retired effective March 31, 2026. Mr. Walsh will receive a lump sum payment of $15,000 within 60 days of his retirement date, representing his pro-rated annual incentive pay for the first quarter of 2026. All of Mr. Walsh's unvested stock options will immediately vest upon his retirement and will remain exercisable for their original ten-year term. Mr. Walsh has agreed to provide consulting services to the Bank from April 1, 2026, through July 31, 2026, for a fee of $10,000 per month. The agreement includes post-employment obligations such as non-solicitation restrictions for employees and customers for one year following the retirement date, and standard confidentiality provisions.