secwatch.observer — SEC 8-K summary
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Issuer:     PROSPERITY BANCSHARES INC (PB)
CIK:        0001068851
Form:       8-K
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0000950170-24-115083
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prosperity Bancshares enters amended employment agreement with CEO David Zalman
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- Base salary of $1,092,865 per annum, effective October 15, 2024.
- CIC severance now requires termination with Good Reason or without Cause within 6 months before to 18 months after CIC.
- Severance includes 3x base salary plus 3x average annual bonus, plus accrued amounts.
- Agreement automatically extends annually unless terminated.
- Amends prior agreement from Dec 29, 2023; nonsubstantive wording changes included.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1068851/000095017024115083/0000950170-24-115083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1068851/000095017024115083/pb-20241015.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-115083

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