ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On February 8, 2023, Rebecca Rettig notified Silvergate Capital Corporation (the
"Company") of her resignation from the boards of directors (the "Boards") of the
Company and its wholly-owned subsidiary, Silvergate Bank (the "Bank"), as well
as from any committees of such Boards on which she served, effective as of
February 8, 2023. Ms. Rettig advised the Company that she has accepted an
executive position at another company and is resigning due to her new
commitments. Ms. Rettig's resignation was not the result of any dispute or
disagreement with the Company, the Bank or the Boards on any matter relating to
the operations, policies or practices of the Company or Bank.
In connection with the resignation of Ms. Rettig, the Company's Nominating and
Corporate Governance Committee will commence a search for a qualified director
candidate to fill the Boards' vacancies, taking into consideration the need for
continued diversity on the Boards.
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