secwatch.observer — SEC 8-K summary
======================================

Issuer:     Finward Bancorp (FNWD)
CIK:        0000919864
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0000908834-24-000192
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Finward Bancorp adds CFO Benjamin Schmitt to change-in-control severance plan, waives 3-year service requirement
--------------------------------------------------------------------------------

- CFO Benjamin Schmitt approved as eligible participant in Executive Change in Control Severance Plan by Compensation Committee.
- Three-year employment eligibility requirement waived for Schmitt per CEO recommendation.
- Benefits include cash severance of 1x base salary plus target bonus, plus COBRA and life insurance premiums.
- Payments triggered by termination without cause or for good reason within 18 months of a change-in-control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/919864/000090883424000192/0000908834-24-000192-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/919864/000090883424000192/finward_8k080724.htm
  HTML page:      https://secwatch.observer/filing/0000908834-24-000192

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