First Interstate BancSystem Announces Director Changes
Ticker: FIBK · Form: 8-K · Filed: Oct 9, 2024 · CIK: 860413
| Field | Detail |
|---|---|
| Company | First Interstate Bancsystem INC (FIBK) |
| Form Type | 8-K |
| Filed Date | Oct 9, 2024 |
| Risk Level | low |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.00001, $1,000,000, $2,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, officer-compensation
Related Tickers: FIBK
TL;DR
Board shakeup at FIBK: Keogh out, Brown in. Officer comp details also filed.
AI Summary
First Interstate BancSystem, Inc. announced on October 9, 2024, the departure of Director Michael J. Keogh and the election of new Director Jeffrey L. Brown. The company also reported on compensatory arrangements for certain officers, though specific details and dollar amounts were not provided in this filing.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and officer changes, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Michael J. Keogh (person) — Departing Director
- Jeffrey L. Brown (person) — Newly Elected Director
- FIRST INTERSTATE BANCSYSTEM, INC. (company) — Registrant
FAQ
Who has departed from the Board of Directors?
Michael J. Keogh has departed from the Board of Directors.
Who has been elected to the Board of Directors?
Jeffrey L. Brown has been elected to the Board of Directors.
What is the exact date of this report?
The date of the report is October 9, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Delaware.
What are the main items reported in this 8-K filing?
The filing reports on the departure of directors, election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
Filing Stats: 2,088 words · 8 min read · ~7 pages · Grade level 11.7 · Accepted 2024-10-09 17:12:17
Key Financial Figures
- $0.00001 — ange on which registered Common stock, $0.00001 par value FIBK NASDAQ Indicate by che
- $1,000,000 — Mr. Reuter will be one million dollars ($1,000,000). Base salary will be reviewed at least
- $2,000,000 — rant date value of two million dollars ($2,000,000) (the "Sign-on Grant"), forty percent (
Filing Documents
- fibk-20241009.htm (8-K) — 43KB
- fibk-20241009xex101_reuter.htm (EX-10.1) — 124KB
- fibk-20241009xex991pr.htm (EX-99.1) — 9KB
- fibslogo2linea04.jpg (GRAPHIC) — 162KB
- 0000860413-24-000125.txt ( ) — 554KB
- fibk-20241009.xsd (EX-101.SCH) — 2KB
- fibk-20241009_lab.xml (EX-101.LAB) — 21KB
- fibk-20241009_pre.xml (EX-101.PRE) — 12KB
- fibk-20241009_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On October 9, 2024, the Company issued a press release announcing the appointment described above. A copy of the press release is attached as Exhibit 99.1 to this Current Report and incorporated herein by reference. Interested persons are encouraged to read the press release because it contains other important information not summarized in this Current Report. Neither the information included or incorporated by reference under this Item 7.01, nor the Press Re lease furnished herewith, shall be deemed to be "filed" for purposes of Section 18 of the Exchange Act or incorporated by reference into any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing. Cautionary Note Regarding Forward-Looking Statements
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 10.1 Employment Agreement by and among James Reuter, First Interstate BancSystem Inc. and First Interstate Bank, dated as of October 9, 2024 . 99.1 Press Release dated October 9, 2024 . 104 Cover Page Interactive Data File (embedded within 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: October 9, 2024 FIRST INTERSTATE BANCSYSTEM, INC. By: /s/ MARCY D. MUTCH Marcy D. Mutch Executive Vice President and Chief Financial Officer