secwatch.observer — SEC 8-K summary
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Issuer:     FIRST INTERSTATE BANCSYSTEM INC (FIBK)
CIK:        0000860413
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0000860413-24-000108
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/860413/000086041324000108/0000860413-24-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/860413/000086041324000108/fibk-20240708.htm
  HTML page:      https://secwatch.observer/filing/0000860413-24-000108

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