secwatch.observer — SEC 8-K summary
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Issuer:     TEXAS CAPITAL BANCSHARES INC/TX (TCBI)
CIK:        0001077428
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001077428-24-000158
Event type: leadership
Sentiment:  positive
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Texas Capital Bancshares amends CEO agreement with $1.1M base, higher incentives; grants retention RSUs
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- CEO Rob Holmes signs new 4-year employment agreement with $1.1M base salary; cash incentive target of 200% in 2024 and 180% from 2025, LTI target 400% of base.
- One-time retention RSU award of $4,045,489 (61,491 RSUs) granted to CEO Holmes, cliff-vesting on third anniversary.
- Additional retention RSUs: CFO Scurlock $1M, Cummings $350k, Alvarado $375k, all with 3-year cliff vest.
- Severance: 2x base plus target bonus without cause; 3x upon change-in-control; noncompete for 1 year.
- No tax gross-ups; lifetime medical benefit for CEO and spouse after termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1077428/000107742824000158/0001077428-24-000158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1077428/000107742824000158/tcbi-20240729.htm
  HTML page:      https://secwatch.observer/filing/0001077428-24-000158

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