secwatch.observer — SEC 8-K summary
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Issuer:     FIRST FINANCIAL CORP /IN/ (THFF)
CIK:        0000714562
Form:       8-K
Filed at:   2025-06-03T23:59:59+00:00
Accession:  0000714562-25-000039
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Financial enters new CEO employment agreement with Norman Lowery
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- New agreement effective July 1, 2025, with initial 24-month term; compensation committee may extend annually.
- Base salary of $675,350 per annum; target short-term bonus at least 60% of base; long-term incentive at least 80% of base.
- Change-in-control severance: 2.99x base salary plus prior year bonus, plus three years benefit reimbursement.
- Non-compete restricted to 75-mile radius of Terre Haute (50 miles if terminated without cause or for good reason).
- Contains standard confidentiality, non-solicit, and Section 280G parachute payment limitation provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714562/000071456225000039/0000714562-25-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714562/000071456225000039/thff-20250602x8k.htm
  HTML page:      https://secwatch.observer/filing/0000714562-25-000039

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