secwatch.observer — SEC 8-K summary
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Issuer:     CF BANKSHARES INC. (CFBK)
CIK:        0001070680
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001070680-24-000022
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CF Bankshares amends CEO O'Dell and President Ringwald change-of-control severance terms
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- CEO O'Dell change-of-control payout revised to 2x (base salary + avg of last 2 years' cash bonuses and equity at grant FMV).
- President Ringwald change-of-control multiplier increased to 1.5x (base salary + avg annual bonus over prior 24 months).
- O'Dell's 2024 bonus opportunity unchanged at 125% of base salary.
- Amendments also specify bonus determination process and timing by Compensation Committee.
- Both amendments effective June 6, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070680/000107068024000022/0001070680-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070680/000107068024000022/cfbk-20240606x8k.htm
  HTML page:      https://secwatch.observer/filing/0001070680-24-000022

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