secwatch.observer — SEC 8-K summary
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Issuer:     TIMBERLAND BANCORP INC (TSBK)
CIK:        0001046050
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0000939057-23-000364
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Timberland Bancorp enters amended employment agreements with CEO, President, CFO, and CLO
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- Agreements effective Dec 19, 2023, for Dean J. Brydon (CEO), Jonathan A. Fischer (President/COO), Marci A. Basich (CFO), and Matthew J. DeBord (CLO).
- Three-year term with automatic annual extensions unless 90-day notice given or board non-approval.
- Base salary at current levels; eligible for performance bonuses, equity incentives, and fringe benefits.
- Severance: 299% of base amount under Section 280G upon change-in-control involuntary termination, subject to golden parachute limits.
- Non-compete for 6 months post-termination in Washington counties where Bank operates; includes client and employee non-solicit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046050/000093905723000364/0000939057-23-000364-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046050/000093905723000364/8-k121923.htm
  HTML page:      https://secwatch.observer/filing/0000939057-23-000364

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