secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST FINANCIAL CORP /IN/ (THFF)
CIK:        0000714562
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000714562-24-000046
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial signs new CEO employment agreement with Norman Lowery; base salary $650K
--------------------------------------------------------------------------------

- New 24-month employment agreement for President/CEO Norman D. Lowery effective July 1, 2024.
- Annual base salary set at $650,000; target short-term bonus 60% and long-term incentive 80% of base.
- Term extends to June 30, 2026, with possible one-year extensions by Compensation Committee.
- Provides non-compete (75-mile radius) and non-solicit covenants for one year post-termination.
- Change-in-control provision offers enhanced severance up to 2.99x base plus bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000046/0000714562-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714562/000071456224000046/thff-20240731x8k.htm
  HTML page:      https://secwatch.observer/filing/0000714562-24-000046

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