{"schema_version":"secwatch.filing_event.v1","accession":"0000939057-22-000003","form_type":"8-K","ticker":"SFDL","cik":"0000818677","company_name":"SECURITY FEDERAL CORP","filed_at":"2022-01-05T23:59:59+00:00","discovered_at":"2026-05-14T18:04:09.883701+00:00","generated_at":"2026-06-27T20:47:51.328460+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"confidence":"high","headline":"Security Federal Bank enters change-in-control severance agreement with President Philip Wahl","bullets":["Lump sum of 1.2x base salary if terminated within 6 months before or 24 months after a change in control.","Initial term through Dec 31, 2022; auto-renewed annually unless Board gives 30-day notice of non-renewal.","Payments subject to golden parachute regulations (12 U.S.C. §1828(k), 12 C.F.R. Part 359).","Includes one-year post-termination restrictive covenants: non-solicitation, nondisclosure, non-defamation.","Violation of restrictive covenants allows cessation of remaining payments and clawback of prior payments."],"urls":{"canonical":"https://secwatch.observer/filing/0000939057-22-000003","json":"https://secwatch.observer/filing/0000939057-22-000003.json","markdown":"https://secwatch.observer/filing/0000939057-22-000003.md","text":"https://secwatch.observer/filing/0000939057-22-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/818677/000093905722000003/0000939057-22-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/818677/000093905722000003/k81322.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-27T20:47:51.328460+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}