---
schema_version: "secwatch.filing_event.v1"
accession: "0000705432-26-000029"
form_type: "8-K"
ticker: "SBSI"
cik: "0000705432"
company_name: "SOUTHSIDE BANCSHARES INC"
filed_at: "2026-02-20T23:59:59+00:00"
generated_at: "2026-05-16T01:35:49.603830+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Southside Bancshares enters split-dollar life insurance for CEO, director Bosworth to retire

## Summary
- CEO Keith Donahoe receives $2.1M death benefit if employed at death, adjusted 5% annually.
- Post-employment death benefit equals 1.5x final base salary, vested at age 65 or other triggers.
- Director Michael J. Bosworth to retire at May 14, 2026 annual meeting per mandatory age policy.
- Board size reduced from 14 to 13 members effective as of the 2026 annual meeting.
- Split-dollar agreement includes annual gross-up bonus for CEO to cover taxes on imputed income.

## SEC filing metadata
- accession: 0000705432-26-000029
- form_type: 8-K
- ticker: SBSI
- cik: 0000705432
- company_name: SOUTHSIDE BANCSHARES INC
- filed_at: 2026-02-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/705432/000070543226000029/0000705432-26-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/705432/000070543226000029/sbsi-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000705432-26-000029
- JSON: https://secwatch.observer/filing/0000705432-26-000029.json
- Plain text: https://secwatch.observer/filing/0000705432-26-000029.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.