secwatch.observer — SEC 8-K summary
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Issuer:     PARKE BANCORP, INC. (PKBK)
CIK:        0001315399
Form:       8-K
Filed at:   2024-03-22T23:59:59+00:00
Accession:  0001193125-24-074696
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1315399/000119312524074696/0001193125-24-074696-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1315399/000119312524074696/d44879d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-074696

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