secwatch.observer — SEC 8-K summary
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Issuer:     MACATAWA BANK CORP (—)
CIK:        0001053584
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0000905729-23-000148
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macatawa Bank CEO Ron Haan retiring Nov 1; Jon Swets named new CEO, Bryan Barker CFO
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- Ronald L. Haan retires as President and CEO effective Nov 1, 2023; remains director until May 2024.
- Jon W. Swets, previously SVP and CFO, appointed President and CEO and director effective Nov 1.
- Bryan Barker appointed CFO; he was Accounting & Finance Senior Manager, VP.
- Haan receives $1.1M transition payment over 12 months, consulting role through Nov 1, 2024, full vesting of restricted stock.
- Barker enters Change in Control Agreement providing severance upon qualifying termination near a change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1053584/000090572923000148/0000905729-23-000148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1053584/000090572923000148/mcbc8k_101923.htm
  HTML page:      https://secwatch.observer/filing/0000905729-23-000148

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