Carter Bankshares names Jacob Lutz (former Troutman Pepper partner) and Curtis Stephens to board of directors

Carter Bankshares, Inc.

Jacob A. Lutz, III appointed; retired Troutman Pepper partner, chaired Financial Services Practice 20 years; previously FDIC attorney.
Curtis E. Stephens appointed; experience in consumer services, transportation, real estate, manufacturing, technology, and sports.
Both appointments effective March 23, 2022; annual cash retainer $38,800 + $30,000 stock retainer; no restricted stock until Jan 2023.
Lutz's former firm Troutman Pepper received ~$1.35M in legal fees from Company in 2021 (related party transaction disclosed).
CEO Litz Van Dyke says appointments will guide continued growth of Carter Bankshares.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Jacob A. Lutz, III

Director

CARE · Carter Bankshares, Inc.

Effective: 2022-03-23
Filed: March 24, 2022, 7:59 PM ET

On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.

Appointed

Curtis E. Stephens

Director

CARE · Carter Bankshares, Inc.

Effective: 2022-03-23
Filed: March 24, 2022, 7:59 PM ET

On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jacob A. Lutz, III was appointed as Director at Carter Bankshares, Inc..

Action: appointed
Role: Director

Exact text from the filing

On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Curtis E. Stephens was appointed as Director at Carter Bankshares, Inc..

Action: appointed
Role: Director

Exact text from the filing

On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.

View on SEC.gov

Carter Bankshares, Inc. filing history →

Source: SEC EDGAR

accession 0001829576-22-000018

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