First Interstate CEO Kevin Riley to retire; transition agreement provides severance and consulting

FIRST INTERSTATE BANCSYSTEM INC

CEO Kevin Riley will retire; he remains CEO until successor starts or no earlier than January 1, 2025.
Upon separation, Riley receives $3.56M paid over 18 months, 24 months health coverage, and other benefits.
After separation, Riley will provide consulting for one year at $70,833/month, with non-compete/non-solicit covenants.
Riley will resign from the board and all committees on the separation date; a CEO search is ongoing.

item 5.02 item 9.01

Executive movements

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Departed

Kevin P. Riley

President and Chief Executive Officer

FIBK · FIRST INTERSTATE BANCSYSTEM INC

Filed: July 12, 2024, 7:59 PM ET

the Company’s President and Chief Executive Officer (“CEO”) Kevin P. Riley will be retiring and a search has been initiated for his successor.

Departed

Kevin P. Riley

Director

FIBK · FIRST INTERSTATE BANCSYSTEM INC

Filed: July 12, 2024, 7:59 PM ET

Mr. Riley will resign from the Company’s Board of Directors, the Board of Directors of First Interstate Bank, the Board of Directors of the First Interstate BancSystem Foundation, and any committees on which he serves, in each case effective as of the Separation Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin P. Riley departed as President and Chief Executive Officer at FIRST INTERSTATE BANCSYSTEM INC.

Action: retiring
Role: President and Chief Executive Officer

Exact text from the filing

the Company’s President and Chief Executive Officer (“CEO”) Kevin P. Riley will be retiring and a search has been initiated for his successor.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin P. Riley departed as Director at FIRST INTERSTATE BANCSYSTEM INC.

Action: resign
Role: Director

Exact text from the filing

Mr. Riley will resign from the Company’s Board of Directors, the Board of Directors of First Interstate Bank, the Board of Directors of the First Interstate BancSystem Foundation, and any committees on which he serves, in each case effective as of the Separation Date.

View on SEC.gov

FIRST INTERSTATE BANCSYSTEM INC filing history →

Source: SEC EDGAR

accession 0000860413-24-000108

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