---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-035591"
form_type: "8-K"
ticker: "STEL"
cik: "0001473844"
company_name: "Stellar Bancorp, Inc."
filed_at: "2022-03-18T23:59:59+00:00"
generated_at: "2026-06-26T21:39:40.960598+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CBTX enters merger-related executive comp agreements with CEO Franklin, CFO Pigott

## Summary
- CEO Franklin post-merger salary $645,000; target bonus 85%; equity awards min 125% of base.
- Franklin receives $550,000 closing equity award (50% time-based, 50% performance-based) with three-year vest.
- Severance for Franklin: lump sum greater of $1.5M or 2x base, plus pro-rata bonus and 18 months health premiums.
- CFO Pigott gets $960,000 cash severance plus accelerated equity vesting if terminated without cause within 18 months post-merger.
- Bylaws amended to align shareholder amendment rights in certificate and bylaws post-merger.

## SEC filing metadata
- accession: 0001104659-22-035591
- form_type: 8-K
- ticker: STEL
- cik: 0001473844
- company_name: Stellar Bancorp, Inc.
- filed_at: 2022-03-18T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1473844/000110465922035591/0001104659-22-035591-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1473844/000110465922035591/tm229581d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-035591
- JSON: https://secwatch.observer/filing/0001104659-22-035591.json
- Plain text: https://secwatch.observer/filing/0001104659-22-035591.txt

## Key facts
- Executive change
  Robert R. Franklin, Jr. was appointed as Chief Executive Officer at Stellar Bancorp, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Mr. Franklin will serve as Chief Executive Officer of the combined company and will serve as Executive Chairman of the combined bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473844/000110465922035591/0001104659-22-035591-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.