Management Change/Compensation (Form 8-K)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective April 9, 2026, the Compensation Committee (the "Committee") of the Board of Directors of First Business Financial Services, Inc. (the "Company") approved the vesting of the Performance Restricted Stock Units, or "PRSUs", granted to eligible executive officers of the Company in 2023 under its Long-Term Incentive Plan for the performance measurement period beginning in 2023 and ending in 2025 (the "2023 Award"). The vesting of the 2023 Award was determined by Total Shareholder Return ("TSR") and Return on Average Tangible Common Equity ("ROATCE") Company performance goals. As noted in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 5, 2026 (the "Proxy Statement"), as of the date of the Proxy Statement, the number of shares earned under the 2023 Award was unknown due to the unavailability of final ROATCE information.

The Committee determined that the Company's performance at a "Superior" level under each of the TSR and ROATCE performance goals during the performance period resulted in the payout of the Company's common stock to each of the Company's Named Executive Officers listed below: