Prosperity Bancshares amends CEO Zalman's employment agreement, boosts change-in-control payout

PROSPERITY BANCSHARES INC

Removed age-67 term limit, allowing automatic extensions beyond age 67.
Change-in-control payment increased to 3x base salary ($1,071,436.80/yr) plus 3x average annual bonus; restricted stock vests on change-in-control.
Conflicts section revised to permit Zalman's personal investments in competing businesses if they do not interfere with duties.
Agreement effective Dec. 29, 2023; amends 2009 agreement; Base Salary remains $1,071,436.80.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.