other
confidence high
sentiment neutral
materiality 0.25
Sound Financial amends change-in-control agreements for six officers, including Sexton and Ochs
Sound Financial Bancorp, Inc.
- On Oct 30, 2024, Board approved amendments to change-in-control agreements for six officers.
- Heidi Sexton (EVP/COO) and Wes Ochs (EVP/CSO/CFO) among those with revised agreements.
- Involuntary termination definition now based on 35-mile radius from officer's current workplace, not headquarters.
- For four earlier agreements, 'Change in Control' definition aligned with 2023 version.
- No other changes to severance terms; effective immediately.