secwatch.observer — SEC 8-K summary
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Issuer:     FIRST NORTHERN COMMUNITY BANCORP (FNRN)
CIK:        0001114927
Form:       8-K
Filed at:   2024-04-04T23:59:59+00:00
Accession:  0001114927-24-000031
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northern Bancorp names Brett Hamilton as Chief Credit Officer, replacing retired Joe Danelson
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- Joe Danelson retired as EVP/Chief Credit Officer effective March 31, 2024; stays through April 5 for transition.
- Brett Hamilton appointed EVP/Chief Credit Officer effective April 1, 2024, with 25+ years banking experience from Tri-Counties Bank and Rabobank.
- Hamilton's employment agreement provides $287,000 base salary, plus eligibility for Annual Incentive Plan and $40,000 restricted stock grant.
- Change-of-control severance: 200% of base salary plus average bonus if terminated within two years after change in control.
- Executive Retirement/Retention Agreement vests Awards at age 58, with accelerated vesting upon termination without cause or within 24 months after change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114927/000111492724000031/0001114927-24-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114927/000111492724000031/form8_k.htm
  HTML page:      https://secwatch.observer/filing/0001114927-24-000031

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