Horizon Bancorp Files 8-K: Director/Officer Changes & Financials
Ticker: HBNC · Form: 8-K · Filed: May 13, 2024 · CIK: 706129
| Field | Detail |
|---|---|
| Company | Horizon Bancorp INC /In/ (HBNC) |
| Form Type | 8-K |
| Filed Date | May 13, 2024 |
| Risk Level | low |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $440,000, $200,000, $100,000, $220,000, $20,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, financial-reporting
Related Tickers: HBNC
TL;DR
HBNC filed an 8-K for director/officer changes and financial updates.
AI Summary
Horizon Bancorp, Inc. (HBNC) filed an 8-K on May 13, 2024, reporting changes in its board of directors and certain officers, along with updates to compensatory arrangements. The filing also includes financial statements and exhibits, indicating ongoing corporate governance and financial reporting activities for the Indiana-based commercial bank.
Why It Matters
This filing provides insight into the corporate governance and executive structure of Horizon Bancorp, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: low — This is a routine corporate filing detailing board and officer changes, not a significant event like a merger or financial distress.
Key Players & Entities
- HORIZON BANCORP INC /IN/ (company) — Registrant
- Indiana (location) — State of incorporation
- May 13, 2024 (date) — Date of report
- 515 Franklin Street Michigan City, IN 46360 (address) — Principal executive offices
FAQ
What specific changes were made to the board of directors or certain officers?
The filing indicates changes in directors and officers, and updates to compensatory arrangements, but the specific details of these changes are not provided in the provided text snippet.
What is the primary business of Horizon Bancorp, Inc.?
Horizon Bancorp, Inc. is a commercial bank, as indicated by its Standard Industrial Classification code [6022] for State Commercial Banks.
When was the report filed and what period does it cover?
The report was filed on May 13, 2024, and the date of the earliest event reported is also May 13, 2024.
What is the company's state of incorporation and IRS number?
The company is incorporated in Indiana and its IRS Employer Identification Number is 35-1562417.
What other items are included in this 8-K filing besides director and officer information?
In addition to Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers), the filing also includes Item 9.01 (Financial Statements and Exhibits).
Filing Stats: 2,397 words · 10 min read · ~8 pages · Grade level 11.8 · Accepted 2024-05-13 17:28:46
Key Financial Figures
- $440,000 — er things, (i) an annual base salary of $440,000, with the base salary to be reviewed an
- $200,000 — on Committee"), (ii) a signing bonus of $200,000 (the "Signing Bonus"), and (iii) reimbu
- $100,000 — i) reimbursed relocation expenses up to $100,000 (the "Relocation Reimbursement"). Pursu
- $220,000 — nus shall be 50% of his target bonus or $220,000, (iii) continued participation in group
- $20,000 — for providing the benefits), (iv) up to $20,000 for reasonable expenses actually incurr
- $46,281.31 — his existing Employment Agreement from $46,281.31 to $53,254.88 to account for the extra
- $53,254.88 — Employment Agreement from $46,281.31 to $53,254.88 to account for the extra days Mr. Secor
Filing Documents
- hbnc-20240513.htm (8-K) — 46KB
- exhibit101johnrstewartempl.htm (EX-10.1) — 115KB
- exhibit102johnrstewartchan.htm (EX-10.2) — 103KB
- exhibit103markesecoramendm.htm (EX-10.3) — 15KB
- exhibit104markesecoramende.htm (EX-10.4) — 101KB
- exhibit991horizonbancorpin.htm (EX-99.1) — 10KB
- horizonbancorpinc876_sm-10a.jpg (GRAPHIC) — 178KB
- 0000706129-24-000072.txt ( ) — 826KB
- hbnc-20240513.xsd (EX-101.SCH) — 2KB
- hbnc-20240513_lab.xml (EX-101.LAB) — 21KB
- hbnc-20240513_pre.xml (EX-101.PRE) — 12KB
- hbnc-20240513_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits EXHIBIT INDEX Exhibit No. Description Location 10.1 Employment Agreement (John R. Stewart), dated May 10, 2024 Attached 10.2 Change in Control Agreement (John R. Stewart), dated May 10, 2024 Attached 10.3 Amendment to Employment Agreement (Mark E. Secor), dated May 10, 2024 Attached 10.4 Amended and Restated Change in Control Agreement (Mark E. Secor), dated May 10, 2024 Attached 99.1 Press release dated May 1 3 , 2024 Attached 104 Cover Page Interactive Data File (Embedded within the Inline XBRL document) Within the Inline XBRL document 4
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: May 13, 2024 HORIZON BANCORP, INC. By: /s/ Thomas M. Prame Thomas M. Prame, Chief Executive Officer and President 5