secwatch.observer — SEC 8-K summary
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Issuer:     Pioneer Bancorp, Inc./MD (PBFS)
CIK:        0001769663
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0000943374-22-000207
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pioneer Bancorp EVP/CAO Frank Sarratori to resign effective June 24, 2022
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- Lump-sum payments: $350,000 at least 8 days after release, $100,000 12 months post-separation.
- Bank pays full COBRA premiums for up to 18 months; life insurance premiums reimbursed with tax gross-up.
- Separation includes non-disparagement, non-solicitation of employees for 12 months, and cooperation with litigation.
- Bank acknowledges no reasonable basis to believe Sarratori committed fraud, breach of trust, or insider abuse.
- Mr. Sarratori continues employment through June 24, 2022, assisting with transition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1769663/000094337422000207/0000943374-22-000207-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1769663/000094337422000207/form8k_052422.htm
  HTML page:      https://secwatch.observer/filing/0000943374-22-000207

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