secwatch.observer — SEC 8-K summary
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Issuer:     TIMBERLAND BANCORP INC (TSBK)
CIK:        0001046050
Form:       8-K
Filed at:   2022-05-27T23:59:59+00:00
Accession:  0000939057-22-000158
Event type: other
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Timberland Bancorp enters three-year employment agreement with President/CFO Brydon
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- Three-year initial term with automatic one-year extensions subject to board approval.
- Base salary not less than current level; eligible for performance and discretionary bonuses.
- Severance on involuntary termination: continuation of salary and benefits for remaining term.
- Post-change-in-control severance: lump sum equal to 299% of base amount under IRC §280G.
- Six-month noncompete covering counties where Bank operates; clawback policy applies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046050/000093905722000158/0000939057-22-000158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046050/000093905722000158/timb8k52422.htm
  HTML page:      https://secwatch.observer/filing/0000939057-22-000158

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