secwatch.observer — SEC 8-K summary
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Issuer:     PEOPLES BANCORP OF NORTH CAROLINA INC (PEBK)
CIK:        0001093672
Form:       8-K
Filed at:   2021-08-20T23:59:59+00:00
Accession:  0001654954-21-009273
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peoples Bancorp enters employment agreement with CFO Hooper
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- 36-month initial term, effective August 19, 2021; auto-renewal annually unless notice given.
- Base salary of at least $189,625 per year; eligible for incentive, retirement, and welfare plans.
- Severance: if terminated without cause or for good reason, lump sum of base salary for remaining term plus pro-rata bonus.
- Agreement includes non-compete and non-solicitation covenants following termination.
- Termination for cause, death, or disability triggers Accrued Obligations only.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495421009273/0001654954-21-009273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495421009273/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-21-009273

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