secwatch.observer — SEC 8-K summary
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Issuer:     FARMERS & MERCHANTS BANCORP INC (FMAO)
CIK:        0000792966
Form:       8-K
Filed at:   2021-08-18T23:59:59+00:00
Accession:  0001564590-21-045036
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792966/000156459021045036/0001564590-21-045036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792966/000156459021045036/fmao-8k_20210817.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-045036

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