secwatch.observer — SEC 8-K summary
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Issuer:     1ST SOURCE CORP (SRCE)
CIK:        0000034782
Form:       8-K/A
Filed at:   2025-09-29T23:59:59+00:00
Accession:  0000034782-25-000103
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1st Source finalizes employment agreements for four top executives with base salaries from $400K-$750K
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- Chris Murphy III named Executive Chairman with $750K base salary from Jan 2026; 10,000 share stock award.
- Andrea Short as President/CEO with $650K base salary from Jan 2026; term to Dec 2030.
- Kevin Murphy as EVP/President of Bank with $450K base salary from Jan 2026; term to Dec 2028.
- Brett Bauer as EVP/CFO with $400K base salary from Jan 2026; term to Dec 2026.
- Executives receive severance of 6x monthly base salary plus 30-month installments (2.99x on change in control).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34782/000003478225000103/0000034782-25-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34782/000003478225000103/source-20250724.htm
  HTML page:      https://secwatch.observer/filing/0000034782-25-000103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer