---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-009889"
form_type: "8-K/A"
ticker: "FLG"
cik: "0000910073"
company_name: "FLAGSTAR BANK, NATIONAL ASSOCIATION"
filed_at: "2025-03-21T23:59:59+00:00"
generated_at: "2026-05-24T09:34:03.679309+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Flagstar finalizes CEO Otting employment agreement: $1.25M salary, $2.25M target bonus through 2027

## Summary
- Employment agreement executed March 19, 2025, term through March 31, 2027 unless renewed.
- Base salary $1.25M per year; eligible for annual cash bonus with target $2.25M, max $4.5M.
- Relocation costs to NYC area covered; eligible for benefit plans as senior executive.
- Severance: lump sum equal to base salary and target bonus from termination to third anniversary of effective date.
- Post-employment restrictions: 12-month non-compete and non-solicitation, perpetual confidentiality, mutual non-disparagement.

## SEC filing metadata
- accession: 0001140361-25-009889
- form_type: 8-K/A
- ticker: FLG
- cik: 0000910073
- company_name: FLAGSTAR BANK, NATIONAL ASSOCIATION
- filed_at: 2025-03-21T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910073/000114036125009889/0001140361-25-009889-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910073/000114036125009889/ef20045987_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-009889
- JSON: https://secwatch.observer/filing/0001140361-25-009889.json
- Plain text: https://secwatch.observer/filing/0001140361-25-009889.txt

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