secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN FINANCIAL SERVICES CORP /PA/ (FRAF)
CIK:        0000723646
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0000723646-23-000003
Event type: leadership
Sentiment:  positive
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Financial hires Chad Carroll as EVP and COO of F&M Trust
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- Charles B. Carroll, age 50, joins from S&T Bank where he was EVP, Chief Administrative Officer.
- Employment agreement effective Jan 3, 2023, initial 3-year term with automatic renewals.
- Annual base salary of $292,500, plus discretionary bonus and club membership dues.
- Severance: 2.5x salary lump sum after change-in-control termination; 2x-2.99x salary for other no-cause termination.
- Role includes day-to-day bank operations and strategic planning reporting to CEO Tim Henry.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723646/000072364623000003/0000723646-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723646/000072364623000003/fraf-20230105x8k.htm
  HTML page:      https://secwatch.observer/filing/0000723646-23-000003

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