---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-008251"
form_type: "8-K"
ticker: "FBIZ"
cik: "0001521951"
company_name: "FIRST BUSINESS FINANCIAL SERVICES, INC."
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T14:56:50.643873+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# First Business Financial Services director Mark Bugher to retire; board size to decrease to 9

## Summary
- Mark D. Bugher notified board of retirement effective after 2024 annual meeting on or about April 26, 2024.
- Bugher served on board since 2005; retirement due to reaching age 75 per Director Retirement Policy.
- Board approved reducing size from 10 to 9 directors concurrent with Bugher's retirement.
- Retirement not due to any disagreement with company operations or policies.

## SEC filing metadata
- accession: 0001104659-24-008251
- form_type: 8-K
- ticker: FBIZ
- cik: 0001521951
- company_name: FIRST BUSINESS FINANCIAL SERVICES, INC.
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521951/000110465924008251/0001104659-24-008251-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521951/000110465924008251/tm244490d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-008251
- JSON: https://secwatch.observer/filing/0001104659-24-008251.json
- Plain text: https://secwatch.observer/filing/0001104659-24-008251.txt

## Key facts
- Executive change
  Mark D. Bugher departed as Director at FIRST BUSINESS FINANCIAL SERVICES, INC..
  - Action: retire
  - Role: Director
  source text: On January 25, 2024, Mark D. Bugher provided First Business Financial Services, Inc. (the “Company”) with notice of his intention to retire from the Company’s Board of Directors (the “Board”) effective as of the conclusion of the 2024 Annual Meeting of Shareholders, which is expected to be held on or about April 26, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521951/000110465924008251/0001104659-24-008251-index.htm

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