secwatch.observer — SEC 8-K summary
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Issuer:     Catalyst Bancorp, Inc. (CLST)
CIK:        0001849867
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001849867-23-000027
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Catalyst Bancorp signs CEO employment agreement; chief credit officer resigns
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849867/000184986723000027/0001849867-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849867/000184986723000027/clst-20230717x8k.htm
  HTML page:      https://secwatch.observer/filing/0001849867-23-000027

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