Finwise Bancorp Announces Director Changes and Officer Compensation
Ticker: FINW · Form: 8-K · Filed: Apr 2, 2024 · CIK: 1856365
| Field | Detail |
|---|---|
| Company | Finwise Bancorp (FINW) |
| Form Type | 8-K |
| Filed Date | Apr 2, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $400,000, $150,000, $185,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-compensation, board-changes
TL;DR
Finwise Bancorp board shakeup: Nelson out, O'Brien in. Officer pay details also disclosed.
AI Summary
Finwise Bancorp announced on March 26, 2024, the departure of director David L. Nelson and the appointment of new director Michael J. O'Brien. The company also reported on compensatory arrangements for certain officers. The filing was made on April 2, 2024.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes and officer compensation, which typically carry low immediate risk.
Key Players & Entities
- Finwise Bancorp (company) — Registrant
- David L. Nelson (person) — Departing Director
- Michael J. O'Brien (person) — Appointed Director
- March 26, 2024 (date) — Date of earliest event reported
- April 2, 2024 (date) — Filing date
FAQ
Who has departed from the Board of Directors of Finwise Bancorp?
David L. Nelson has departed from the Board of Directors of Finwise Bancorp.
Who has been appointed as a new director to the Board of Finwise Bancorp?
Michael J. O'Brien has been appointed as a new director to the Board of Finwise Bancorp.
What is the date of the earliest event reported in this Form 8-K?
The earliest event reported in this Form 8-K is March 26, 2024.
What is the filing date of this Form 8-K?
This Form 8-K was filed on April 2, 2024.
What are the main items covered in this Form 8-K filing?
This Form 8-K covers the departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
Filing Stats: 1,088 words · 4 min read · ~4 pages · Grade level 10.7 · Accepted 2024-04-01 17:36:12
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share FINW The NASDAQ Stock Market
- $400,000 — other things, an annual base salary of $400,000, a 2024 target cash bonus of $150,000 a
- $150,000 — f $400,000, a 2024 target cash bonus of $150,000 and a 2024 grant of restricted stock of
- $185,000 — receive a one-time relocation bonus of $185,000, which will be paid in the form cash, s
Filing Documents
- finw-20240326.htm (8-K) — 31KB
- untitleddocument1.htm (EX-10.1) — 20KB
- 0001856365-24-000015.txt ( ) — 183KB
- finw-20240326.xsd (EX-101.SCH) — 2KB
- finw-20240326_lab.xml (EX-101.LAB) — 23KB
- finw-20240326_pre.xml (EX-101.PRE) — 13KB
- finw-20240326_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter , dated as of January 30, 2024, between the Company and Robert E. Wahlman 104 Cover Page Interactive Date File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, FinWise Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATE: April 1, 2024 FINWISE BANCORP /s/ Michael O'Brien Name: Michael O'Brien Title: Corporate Secretary and Executive Vice President