FinWise Bancorp Chief Strategy Officer David Tilis departs; consulting deal valued up to $2.7M

Finwise Bancorp

David Tilis's employment agreement expired June 15, 2022; employment ended June 16, 2022.
One-year consulting agreement: $300k/month for first six months, $150k/month for final six months (total $2.7M).
Consultant to advise successor, maintain customer relationships, and identify potential customers.
Non-solicitation of Bank employees for 12 months and certain customers for 18 months; mutual release included.
Life insurance policy covering all amounts payable provided at Bank's expense.

item 5.02 item 9.01

Executive movements

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Departed

David Tilis

Chief Strategy Officer and Senior Vice President

FINW · Finwise Bancorp

Effective: 2022-06-16
Filed: June 22, 2022, 7:59 PM ET

On June 15, 2022, the employment agreement, dated January 1, 2018, by and among FinWise Bancorp (the “Company”), FinWise Bank, a wholly-owned subsidiary of the Company (the “Bank”), and David Tilis, who was a named executive officer of the Company and served as the Chief Strategy Officer and Senior Vice President of the Bank, as amended (the “Employment Agreement”), expired in accordance with its terms and was not renewed. In this connection, Mr. Tilis’ employment was terminated on June 16, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Tilis was terminated as Chief Strategy Officer and Senior Vice President at Finwise Bancorp.

Action: terminated
Role: Chief Strategy Officer and Senior Vice President

Exact text from the filing

On June 15, 2022, the employment agreement, dated January 1, 2018, by and among FinWise Bancorp (the “Company”), FinWise Bank, a wholly-owned subsidiary of the Company (the “Bank”), and David Tilis, who was a named executive officer of the Company and served as the Chief Strategy Officer and Senior Vice President of the Bank, as amended (the “Employment Agreement”), expired in accordance with its terms and was not renewed. In this connection, Mr. Tilis’ employment was terminated on June 16, 2022.

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Finwise Bancorp filing history →

Source: SEC EDGAR

accession 0001140361-22-023845

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