secwatch.observer — SEC 8-K summary
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Issuer:     Tectonic Financial, Inc. (—)
CIK:        0001766526
Form:       8-K
Filed at:   2024-10-01T23:59:59+00:00
Accession:  0001185185-24-000933
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

President/CEO Patrick Howard to retire; A. Haag Sherman to assume roles by July 2025
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- Howard resigns as director, President of Tectonic Financial, CEO of TBI and T Bank, effective Jan–July 2025.
- Sherman (current CEO of parent) appointed President of parent, CEO of TBI and T Bank upon Howard's departure.
- Howard to serve as executive advisor through Jan 15, 2026; will receive $175k year-end bonus and $250k performance bonus for each of 2024 and 2025.
- Company to cash out 100,000 stock options at $18.80 per share minus exercise price within 30 business days.
- Transition Services Agreement replaces prior employment agreement; no disagreement cited for departure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766526/000118518524000933/0001185185-24-000933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766526/000118518524000933/tectonic20240930_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000933

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