secwatch.observer — SEC 8-K summary
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Issuer:     PROSPERITY BANCSHARES INC (PB)
CIK:        0001068851
Form:       8-K
Filed at:   2026-07-01T11:15:06+00:00
Accession:  0001193125-26-291486
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 2.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Prosperity Bancshares completes $590M cash-and-stock acquisition of Stellar Bancorp
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- Total consideration ~$590M cash + 19M PB shares; Stellar holders got 0.3803 PB shares + $11.36 cash per share.
- Robert R. Franklin Jr. appointed Vice Chairman of Prosperity and Prosperity Bank; receives $1.12M base salary, 175% target bonus, $3M signing bonus, 25,000 RSA shares.
- Stellar's 52 banking offices in Houston, Beaumont, East Texas, Dallas to operate under Stellar name until operational integration in March 2027.
- Prosperity assumed ~$2.17B in FHLB Dallas obligations from Stellar.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1068851/000119312526291486/0001193125-26-291486-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1068851/000119312526291486/d109409d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-291486

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer