Stellar Bancorp VP Chairman Martinez to retire; new Jaggers employment agreement with $450K base, $500K min bonus

Stellar Bancorp, Inc.

George Martinez will not stand for reelection at 2024 annual meeting; retires as Bank Vice Chairman Dec 31, 2023.
Travis Jaggers' new employment agreement extends term to June 30, 2024, with base salary $450K effective Sep 1, 2023.
Jaggers guaranteed minimum annual bonus of $500K; prorated bonus upon termination without cause, for good reason, or term expiration.
Martinez decision not due to any disagreement with the Company; will continue as Company director until 2024 annual meeting.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

George Martinez

Vice Chairman

STEL · Stellar Bancorp, Inc.

Effective: 2023-12-31
Filed: November 3, 2023, 7:59 PM ET

He intends to retire as a director and Vice Chairman of the Bank at December 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

George Martinez departed as Vice Chairman at Stellar Bancorp, Inc..

Action: retire
Role: Vice Chairman

Exact text from the filing

He intends to retire as a director and Vice Chairman of the Bank at December 31, 2023.

View on SEC.gov

Stellar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001473844-23-000056

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.