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:   2024-09-20T23:59:59+00:00
Accession:  0001654954-24-012142
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

William D. Cable, Sr. appointed President & CEO of Peoples Bancorp of North Carolina effective Sept 19, 2024
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- Base salary set at $365,000; annual incentive at Board discretion.
- SERP benefit for Cable increased to $130,000/year for 13 years, then $23,500/year for life.
- SERP benefit for CFO Jeffrey Hooper increased to $75,000/year for 13 years.
- Employment agreement has initial 36-month term with automatic extensions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424012142/0001654954-24-012142-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093672/000165495424012142/pebk_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-012142

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