Amerant Bancorp Updates Executive Compensation Arrangements

Ticker: AMTB · Form: 8-K · Filed: Jan 3, 2024 · CIK: 1734342

Amerant Bancorp INC. 8-K Filing Summary
FieldDetail
CompanyAmerant Bancorp INC. (AMTB)
Form Type8-K
Filed DateJan 3, 2024
Risk Levellow
Pages3
Reading Time3 min
Key Dollar Amounts$960,000, $2 million
Sentimentneutral

Complexity: simple

Sentiment: neutral

Topics: compensatory-arrangements, corporate-governance, executive-compensation

TL;DR

**Amerant Bancorp just updated executive pay, watch for impact on leadership and performance.**

AI Summary

Amerant Bancorp Inc. filed an 8-K on January 3, 2024, to report changes in its executive compensation arrangements. This filing indicates that the company is updating how it compensates its key officers, which could impact future financial performance and executive retention. For investors, this matters because well-structured compensation can align executive incentives with shareholder interests, potentially leading to better long-term stock performance, while poorly structured compensation could lead to misalignment.

Why It Matters

Changes in executive compensation can signal shifts in company strategy or efforts to retain key talent, directly influencing the company's operational stability and future profitability.

Risk Assessment

Risk Level: low — This filing is routine and primarily administrative, reporting standard corporate governance updates without indicating immediate financial distress or major operational changes.

Analyst Insight

Investors should monitor future filings for details on the specific changes to compensatory arrangements to assess their potential impact on executive motivation and company performance.

Key Players & Entities

FAQ

What was the primary purpose of Amerant Bancorp Inc.'s 8-K filing on January 3, 2024?

The primary purpose of Amerant Bancorp Inc.'s 8-K filing on January 3, 2024, was to report on the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.

What is the trading symbol and exchange for Amerant Bancorp Inc.'s Class A Common Stock?

Amerant Bancorp Inc.'s Class A Common Stock trades under the symbol AMTB on the New York Stock Exchange.

What is the business address of Amerant Bancorp Inc. as stated in the filing?

The business address of Amerant Bancorp Inc. is 220 Alhambra Circle, Coral Gables, Florida 33134.

What is Amerant Bancorp Inc.'s Central Index Key (CIK)?

Amerant Bancorp Inc.'s Central Index Key (CIK) is 0001734342.

Is Amerant Bancorp Inc. classified as an emerging growth company according to the filing?

No, the filing indicates with a checkbox that Amerant Bancorp Inc. is not an emerging growth company.

Filing Stats: 850 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-01-03 16:30:49

Key Financial Figures

Filing Documents

02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 3, 2024, Amerant Bancorp, Inc. (the "Company") and Amerant Bank, N.A., a wholly-owned subsidiary of the Company (the "Bank"), entered into an amended and restated Employment Agreement with Gerald P. Plush, Chairman, President and Chief Executive Officer of the Company and the Bank (the "Amended Agreement"), effective as of January 1, 2024 (the "Effective Date"). The Amended Agreement has an initial term of three years beginning on the Effective Date, and unless sooner terminated, or not renewed, will automatically extend upon the end of its initial term for successive one-year periods and in certain circumstances following a Change in Control (as defined in the Amended Agreement) to clarify that Change in Control-related severance benefits may not be avoided simply by electing to not renew the Amended Agreement. The Amended Agreement amends and restates the Employment Agreement dated January 14, 2021 (the "Prior Agreement"), filed as an exhibit to the Company's Current Report on Form 8-K filed on January 21, 2021. The terms of the Amended Agreement are generally consistent with the Prior Agreement, except for the following substantive amendments: an increase in annual base salary to $960,000 (the "Base Salary"), beginning January 1, 2024; revisions to the severance benefits to which Mr. Plush is entitled in the event of a termination by the Bank without Cause or by Mr. Plush for Good Reason prior to a Change in Control, from one and one half (1.5) times to two (2) times the sum of (i) the Base Salary and (ii) the average of the Annual Bonuses earned for the three full years preceding the year in which such termination occurs or, if less than three years, the greater of (A) the average of the Annual Bonuses earned for all full years preceding the year in which the termination occurs, or (B) i

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Number Exhibit 10.1 Amended and Restated Employment Agreement, effective January 1, 2024, between Amerant Bank, N.A, Amerant Bancorp Inc. and Gerald P. Plush 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 3, 2024 Amerant Bancorp Inc. By: /s/ Julio V. Pena Name: Julio V. Pena Title: Senior Vice President, Securities Counsel and Corporate Secretary

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