secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSEY CORP /NV/ (BUSE)
CIK:        0000314489
Form:       8-K
Filed at:   2025-02-21T23:59:59+00:00
Accession:  0001104659-25-016172
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Busey CFO Jones departs; Scott Phillips named interim CFO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/314489/000110465925016172/0001104659-25-016172-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/314489/000110465925016172/tm257271d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-016172

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