---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-21-045036"
form_type: "8-K"
ticker: "FMAO"
cik: "0000792966"
company_name: "FARMERS & MERCHANTS BANCORP INC"
filed_at: "2021-08-18T23:59:59+00:00"
generated_at: "2026-06-29T09:23:44.735005+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# F&M Bancorp enters new CEO employment agreement with Lars Eller through 2024

## Summary
- Base salary of $389,480; three-year term from Sept 1, 2021 to Aug 31, 2024.
- Target restricted stock grant of 4,000 shares under Long-Term Equity Incentive Plan.
- Change-in-control severance: 2x base salary plus average bonus; 12 months continued benefits.
- Non-compete and non-solicit covenants apply during employment and one year post-termination.
- Agreement substantially similar to prior contract; F&M parent guarantees performance.

## SEC filing metadata
- accession: 0001564590-21-045036
- form_type: 8-K
- ticker: FMAO
- cik: 0000792966
- company_name: FARMERS & MERCHANTS BANCORP INC
- filed_at: 2021-08-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/792966/000156459021045036/0001564590-21-045036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/792966/000156459021045036/fmao-8k_20210817.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-21-045036
- JSON: https://secwatch.observer/filing/0001564590-21-045036.json
- Plain text: https://secwatch.observer/filing/0001564590-21-045036.txt

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