Catalyst Bancorp signs CEO employment agreement; chief credit officer resigns

Catalyst Bancorp, Inc.

CEO Joseph B. Zanco new employment agreement effective Aug 17, 2023–Aug 17, 2026; base salary $300K, may increase.
Severance: 12 months base salary for involuntary termination; 36 months base for change-in-control termination.
SERP benefit $750K vesting over 15 years; additional $500K life insurance; max stock allocation (25% of pools).
SVP & Chief Credit Officer Simone S. Perry resigned effective July 28, 2023 amicably to pursue other opportunity.

item 5.02 item 9.01

Executive movements

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Departed

Simone S. Perry

Senior Vice President and Chief Credit Officer

CLST · Catalyst Bancorp, Inc.

Effective: 2023-07-28
Filed: July 21, 2023, 7:59 PM ET

Also, by notice dated July 17, 2023, Simone S. Perry, Senior Vice President and Chief Credit Officer of the Bank, resigned from her position at the Bank effective as of the close of business on July 28, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Simone S. Perry resigned as Senior Vice President and Chief Credit Officer at Catalyst Bancorp, Inc..

Action: resigned
Role: Senior Vice President and Chief Credit Officer

Exact text from the filing

Also, by notice dated July 17, 2023, Simone S. Perry, Senior Vice President and Chief Credit Officer of the Bank, resigned from her position at the Bank effective as of the close of business on July 28, 2023.

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Source: SEC EDGAR

accession 0001849867-23-000027

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