secwatch.observer — SEC 8-K summary
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Issuer:     NORWOOD FINANCIAL CORP (NWFL)
CIK:        0001013272
Form:       8-K
Filed at:   2024-06-24T23:59:59+00:00
Accession:  0001193125-24-166385
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Norwood Financial names John McCaffery as CFO; outgoing CFO Lance to retire Aug 2
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- John McCaffery appointed EVP and CFO effective June 24, 2024; 30 yrs finance experience, former CFO at Newtek Bank and Bridge Bancorp.
- William Lance steps down as CFO, becomes EVP & Chief Strategic Officer until retirement on August 2, 2024.
- Employment agreement: $340k base salary, $600/mo car allowance, sign-on equity award $25k in stock vesting over 5 years.
- Severance: one-year base salary for involuntary termination without cause; 200% base plus pro-rata bonus upon change-in-control termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013272/000119312524166385/0001193125-24-166385-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013272/000119312524166385/d807620d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-166385

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