Nicholas Financial enters CEO employment agreement with Michael Rost through Aug 2023

OLD MARKET CAPITAL Corp

Base salary no less than $250k, with bonus determined by Compensation Committee.
Stock purchase matching up to $50k per year; matching stock vests over 3 years.
Severance: 100% of base salary plus benefits for one year if terminated without cause.
Non-compete clause applies for one year after termination; equity accelerates on Change of Control.
Agreement runs to August 29, 2023, with automatic renewal option for an additional year.

item 5.02 item 7.01 item 9.01

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Appointed

Michael Rost

Chief Executive Officer

OMCC · OLD MARKET CAPITAL Corp

Effective: 2022-09-15
Filed: September 15, 2022, 7:59 PM ET

On September 15, 2022, Nicholas Financial, Inc. ("the Company") announced Michael Rost's Employment Agreement as Chief Executive Officer through August 29, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Rost was appointed as Chief Executive Officer at OLD MARKET CAPITAL Corp.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On September 15, 2022, Nicholas Financial, Inc. ("the Company") announced Michael Rost's Employment Agreement as Chief Executive Officer through August 29, 2023.

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Source: SEC EDGAR

accession 0000950170-22-018553

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