CBTX enters new employment agreements with Jaggers and Parsons for post-merger roles

Stellar Bancorp, Inc.

Travis Jaggers to become President of combined bank; annual base salary $375k, term through Dec 31, 2023.
J. Pat Parsons to become Vice Chairman; annual base salary $300k, plus $100k deferred comp and min $150k bonus.
Agreements effective only upon merger close; void if merger terminates without consummation.
Jaggers severance: 2x base salary plus COBRA; Parsons severance: 150% of one year's salary plus COBRA.
Both agreements include non-compete, non-solicitation, and confidentiality covenants.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Travis Jaggers

President

STEL · Stellar Bancorp, Inc.

Filed: August 26, 2022, 7:59 PM ET

the Jaggers Employment Agreement provides that Mr. Jaggers (i) will serve as the President of the combined bank

Appointed

J. Pat Parsons

Vice Chairman

STEL · Stellar Bancorp, Inc.

Filed: August 26, 2022, 7:59 PM ET

The Parsons Employment Agreement provides that Mr. Parsons (i) will serve as Vice Chairman of the combined bank

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Travis Jaggers was appointed as President at Stellar Bancorp, Inc..

Action: appointed
Role: President

Exact text from the filing

the Jaggers Employment Agreement provides that Mr. Jaggers (i) will serve as the President of the combined bank

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Pat Parsons was appointed as Vice Chairman at Stellar Bancorp, Inc..

Action: appointed
Role: Vice Chairman

Exact text from the filing

The Parsons Employment Agreement provides that Mr. Parsons (i) will serve as Vice Chairman of the combined bank

View on SEC.gov

Stellar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-095191

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