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FIRST BUSEY CORP /NV/ 8-K Analysis & Summary – 2/21/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

First Busey Corporation

Filing date:

02/21/2025

TLDR:

First Busey Corporation announced the departure of CFO Jeffrey D. Jones and the appointment of Scott A. Phillips as Interim CFO.

ELI5:

The company’s Chief Financial Officer, Jeffrey D. Jones, is leaving. Scott A. Phillips will temporarily take over his job.

Accession #:

0001104659-25-016172

Published on

Analyst Summary

  • Jeffrey D. Jones separated from First Busey Corporation and Busey Bank on February 18, 2025.
  • The separation was not related to any disagreement with the company’s financial reporting or condition.
  • Mr. Jones will receive a severance package including cash severance, pro-rated bonus, health insurance coverage, and a cash amount for restricted stock units.
  • Scott A. Phillips was appointed as Interim Chief Financial Officer of the Company and Busey Bank effective February 18, 2025.
  • Mr. Phillips will continue to be compensated according to his existing compensation arrangements.

Potential Implications

Stock Price

  • The change in executive leadership could potentially influence investor sentiment and stock price, depending on market perception of the transition and the interim CFO’s capabilities.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️