secwatch.observer — SEC 8-K summary
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Issuer:     COLONY BANKCORP INC (CBAN)
CIK:        0000711669
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0000711669-24-000111
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Colony Bankcorp enters new employment agreement with President Dallis Copeland; $365K salary
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- Two-year term effective Sept 13, 2024, replaces September 2022 agreement.
- Base salary of $365,000 per year with annual bonus opportunity based on performance goals.
- Change-in-control severance: 1.5x (base salary plus prior year bonus) in lump sum within 30 days.
- Non-change-in-control severance: 1x base salary paid over 12 months; subject to release and restrictive covenants.
- Non-compete and non-solicitation covenants apply during employment and for at least 12 months post-termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/711669/000071166924000111/0000711669-24-000111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/711669/000071166924000111/cban-20240913.htm
  HTML page:      https://secwatch.observer/filing/0000711669-24-000111

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