secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2022-03-24T23:59:59+00:00
Accession:  0001829576-22-000018
Event type: leadership
Sentiment:  positive
Materiality: 0.25
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957622000018/0001829576-22-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957622000018/care-20220323.htm
  HTML page:      https://secwatch.observer/filing/0001829576-22-000018

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