First Busey CFO Jones departs; Scott Phillips named interim CFO

FIRST BUSEY CORP /NV/

CFO Jeffrey Jones separated Feb 18, 2025; no disagreement regarding financial reporting or CrossFirst acquisition.
Cash severance of $1,045,935 (one-year salary plus 2024 bonus), pro-rated 2025 bonus, COBRA, and $637,712 for RSU vesting.
Scott Phillips, CPA, named interim CFO; retains SVP Corporate Controller role and oversight of accounting, tax, SEC reporting.
Outstanding unvested equity forfeited except prorata 2020 RSUs; post-employment restrictive covenants remain.

item 5.02 item 9.01

Executive movements

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Departed

Jeffrey D. Jones

Executive Vice President, Chief Financial Officer

BUSE · FIRST BUSEY CORP /NV/

Effective: 2025-02-18
Successor: Scott A. Phillips
Filed: February 21, 2025, 6:59 PM ET

On February 19, 2025, First Busey Corporation (the “Company”) entered into a Separation Agreement (the “Separation Agreement”) with Jeffrey D. Jones, the former Executive Vice President, Chief Financial Officer of the Company and Busey Bank, confirming the separation of Mr. Jones from his employment with the Company and its subsidiaries effective February 18, 2025.

Appointed (interim)

Scott A. Phillips

Interim Chief Financial Officer

BUSE · FIRST BUSEY CORP /NV/

Effective: 2025-02-18
Filed: February 21, 2025, 6:59 PM ET

Effective February 18, 2025, the Board of Directors of the Company appointed Scott A. Phillips, CPA, as Interim Chief Financial Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey D. Jones departed as Executive Vice President, Chief Financial Officer at FIRST BUSEY CORP /NV/.

Action: separated
Role: Executive Vice President, Chief Financial Officer

Exact text from the filing

On February 19, 2025, First Busey Corporation (the “Company”) entered into a Separation Agreement (the “Separation Agreement”) with Jeffrey D. Jones, the former Executive Vice President, Chief Financial Officer of the Company and Busey Bank, confirming the separation of Mr. Jones from his employment with the Company and its subsidiaries effective February 18, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott A. Phillips was appointed as Interim Chief Financial Officer at FIRST BUSEY CORP /NV/.

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

Effective February 18, 2025, the Board of Directors of the Company appointed Scott A. Phillips, CPA, as Interim Chief Financial Officer of the Company.

View on SEC.gov

FIRST BUSEY CORP /NV/ filing history →

Source: SEC EDGAR

accession 0001104659-25-016172

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