Third Coast Bancshares SVP & CLO resigns; severance of $461,725

Third Coast Bancshares, Inc.

Donald Legato resigned as Senior Executive VP and Chief Lending Officer effective June 30, 2022.
Severance includes $461,725 paid over 12 months, COBRA reimbursement, and $583 401(k) contribution.
All unvested stock options and restricted shares forfeited; vested awards retained.
Separation agreement includes general release of claims and confidentiality/non-disparagement covenants.

item 5.02 item 9.01

Executive movements

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Departed

Donald Legato

Senior Executive Vice President and Chief Lending Officer

TCBX · Third Coast Bancshares, Inc.

Effective: 2022-06-30
Filed: July 7, 2022, 7:59 PM ET

On June 30, 2022, Donald Legato notified Third Coast Bancshares, Inc. (the “Company”) and Third Coast Bank, SSB, a Texas state savings bank and wholly owned subsidiary of the Company (the “Bank”) that Mr. Legato was resigning as Senior Executive Vice President and Chief Lending Officer of the Bank and any other capacity held at the Company or the Bank effective as of June 30, 2022

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Donald Legato resigned as Senior Executive Vice President and Chief Lending Officer at Third Coast Bancshares, Inc..

Action: resigned
Role: Senior Executive Vice President and Chief Lending Officer

Exact text from the filing

On June 30, 2022, Donald Legato notified Third Coast Bancshares, Inc. (the “Company”) and Third Coast Bank, SSB, a Texas state savings bank and wholly owned subsidiary of the Company (the “Bank”) that Mr. Legato was resigning as Senior Executive Vice President and Chief Lending Officer of the Bank and any other capacity held at the Company or the Bank effective as of June 30, 2022

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Third Coast Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-189489

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