secwatch.observer — SEC 8-K summary
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Issuer:     TC Bancshares, Inc. (—)
CIK:        0001850398
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0000950170-23-023486
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TC Bancshares appoints Scott McLean as CFO with $210k base salary, 3-year term
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- McLean appointed CFO of TC Bancshares and TC Federal Bank effective May 18, 2023, succeeding retiring Linda Palmer.
- Employment agreement: 3-year initial term, $210k annual base salary, eligibility for up to 20% bonus, relocation up to $20k.
- Severance: if terminated without cause or for good reason, 12 months base salary; change-in-control triggers additional lump sum equal to base salary plus average bonus.
- Shareholders elected three Class II directors (Bryant, Eiford, Johnson) and ratified Wipfli LLP as independent auditor for 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/0000950170-23-023486-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1850398/000095017023023486/tcbc-20230127.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-023486

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