secwatch.observer — SEC 8-K summary
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Issuer:     Richmond Mutual Bancorporation, Inc. (RMBI)
CIK:        0001767837
Form:       8-K
Filed at:   2025-05-27T23:59:59+00:00
Accession:  0001628280-25-027969
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Richmond Mutual Bancorp enters change-in-control agreements with President/COO and CFO
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- Agreements dated May 22, 2025 with Paul Witte (President/COO of Bank) and Bradley Glover (CFO of Company and Bank).
- Initial term expires Dec 31, 2026, with automatic one-year renewal on Jan 1, 2026 and each Jan 1 thereafter unless non-renewal notice.
- If termination without cause or for good reason within 12 months after change of control: lump sum cash of 2x base amount plus up to 24 months insurance.
- Severance conditioned on executing general release; subject to Section 280G parachute payment reduction.
- Agreements are between the company, bank, and each executive; filed as Exhibits 10.1 and 10.2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1767837/000162828025027969/0001628280-25-027969-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1767837/000162828025027969/rmbi-20250527.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-027969

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