secwatch.observer — SEC 8-K summary
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Issuer:     Stellar Bancorp, Inc. (STEL)
CIK:        0001473844
Form:       8-K
Filed at:   2022-08-26T23:59:59+00:00
Accession:  0001104659-22-095191
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1473844/000110465922095191/0001104659-22-095191-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1473844/000110465922095191/tm2224675d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-095191

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