---
schema_version: "secwatch.filing_event.v1"
accession: "0001473844-23-000056"
form_type: "8-K"
ticker: "STEL"
cik: "0001473844"
company_name: "Stellar Bancorp, Inc."
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:17:19.330272+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001473844-23-000056
- form_type: 8-K
- ticker: STEL
- cik: 0001473844
- company_name: Stellar Bancorp, Inc.
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000056/0001473844-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000056/stel-20231030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001473844-23-000056
- JSON: https://secwatch.observer/filing/0001473844-23-000056.json
- Plain text: https://secwatch.observer/filing/0001473844-23-000056.txt

## Key facts
- Executive change
  George Martinez departed as Vice Chairman at Stellar Bancorp, Inc..
  - Action: retire
  - Role: Vice Chairman
  source text: He intends to retire as a director and Vice Chairman of the Bank at December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473844/000147384423000056/0001473844-23-000056-index.htm

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