secwatch.observer — SEC 8-K summary
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Issuer:     BANNER CORP (BANR)
CIK:        0000946673
Form:       8-K
Filed at:   2024-05-30T23:59:59+00:00
Accession:  0000939057-24-000156
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banner Bank promotes EVP Jim Costa to COO in addition to CRO role, effective May 26
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- James M. Costa named Chief Operating Officer of Banner Bank while retaining Chief Risk Officer role.
- New annual salary of $500,000; short-term incentive target 65% of eligible earnings.
- Long-term incentive target of 80% of base salary; eligible for relocation package up to $200,000 plus tax gross-up.
- May receive restricted stock units or cash award of up to $300,000, determined by late October 2024.
- CEO cites realigning reporting structure to prepare for growth while maintaining moderate risk profile.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/946673/000093905724000156/0000939057-24-000156-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/946673/000093905724000156/banner8k52624.htm
  HTML page:      https://secwatch.observer/filing/0000939057-24-000156

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