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SOUTHERN MISSOURI BANCORP, INC. 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. ⚠️

SOUTHERN MISSOURI BANCORP, INC.
,

Filing date:

02/21/2025

TLDR:

Southern Missouri Bancorp, Inc. announced change in control severance agreements with its Chief Financial Officer, Chief Credit Officer, and Chief Risk Officer.

ELI5:

The company made agreements with some of its top executives that say what will happen if they leave the company or if the company is sold or changes ownership. These agreements include things like how much money they’ll get and how long their health insurance will last.

Accession #:

0001558370-25-001323

Published on

Analyst Summary

  • Southern Bank, a subsidiary of Southern Missouri Bancorp, Inc., entered into a change in control severance agreement with its Chief Financial Officer, Stefan Chkautovich.
  • Southern Bank also entered into an amended and restated change in control severance agreement with Mark Hecker, its Chief Credit Officer.
  • The Severance Agreements have a term that initially expires on December 31, 2025, and are extended annually unless notice is given.
  • Executives will receive cash severance and continued participation in group insurance plans if terminated in connection with or within one year following a change in control.
  • The Bank entered into an amended and restated change in control severance agreement with Lance Greunke, its Chief Risk Officer.

⚠️ 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. ⚠️