secwatch.observer — SEC 8-K summary
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Issuer:     FIRST US BANCSHARES, INC. (FUSB)
CIK:        0000717806
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0000950170-23-001161
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First US Bancshares adopts 2023 cash incentive program for executives
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- Target bonus: 45% of base salary for CEO James F. House, 35% for CFO Thomas S. Elley and EVP William C. Mitchell.
- Performance metrics: consolidated pre-tax income (25%), ROAA (25-30%), ROATE (15-25%), and loan growth for Mitchell (15%).
- Bonus can be reduced up to 35% based on regulatory rating deterioration or negative findings.
- Includes a discretionary component (20% of total) based on strategic goals, shareholder return, and cost control.
- Provides for recoupment if financial results are restated or performance metrics found materially inaccurate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717806/000095017023001161/0000950170-23-001161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717806/000095017023001161/fusb-20230124.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-001161

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer