---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-074696"
form_type: "8-K"
ticker: "PKBK"
cik: "0001315399"
company_name: "PARKE BANCORP, INC."
filed_at: "2024-03-22T23:59:59+00:00"
generated_at: "2026-06-04T08:59:05.594368+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Parke Bancorp enters change-in-control severance deal with CFO Jonathan Hill

## Summary
- Agreement provides a lump-sum payment of 2.5 times the three-year average salary and cash incentive/bonus, subject to Section 280G limits.
- Mr. Hill is eligible for 18 months of medical, dental, and life insurance premium continuation.
- Non-compete and non-solicitation restrictions apply for one year following termination after a change in control.
- Agreement effective March 19, 2024; triggered only upon a change in control of Parke Bancorp or Parke Bank.

## SEC filing metadata
- accession: 0001193125-24-074696
- form_type: 8-K
- ticker: PKBK
- cik: 0001315399
- company_name: PARKE BANCORP, INC.
- filed_at: 2024-03-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1315399/000119312524074696/0001193125-24-074696-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1315399/000119312524074696/d44879d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-074696
- JSON: https://secwatch.observer/filing/0001193125-24-074696.json
- Plain text: https://secwatch.observer/filing/0001193125-24-074696.txt

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