Home Federal Bancorp Reports Officer/Director Changes & Comp Arrangements

TL;DR

**Home Federal Bancorp just filed an 8-K about changes in its leadership and executive pay.**

AI Summary

Home Federal Bancorp, Inc. of Louisiana filed an 8-K on February 16, 2024, reporting an event that occurred on February 14, 2024. The filing pertains to Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers," and Item 9.01, "Financial Statements and Exhibits." The company, a federally chartered savings institution based in Shreveport, Louisiana, has a central index key of 0001500375.

Why It Matters

This filing signals potential shifts in leadership or executive compensation at Home Federal Bancorp, which could influence the company's strategic direction and financial performance.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation arrangements can introduce uncertainty regarding future company strategy and stability.

Key Players & Entities

• Home Federal Bancorp, Inc. of Louisiana (company) — Registrant
• Louisiana (company) — State of incorporation
• Shreveport (company) — City of principal executive offices
• February 14, 2024 (date) — Date of earliest event reported
• February 16, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $100 — k will also continue to pay Mr. Brown a $100 per month mobile phone allowance for as
• $10,000 — mployers shall pay Mr. Brown a lump sum $10,000 severance payment. If Mr. Brown's empl

Filing Documents

• hfbil20240214_8k.htm (8-K) — 41KB
• ex_626795.htm (EX-10.1) — 72KB
• ex_626796.htm (EX-10.2) — 69KB
• 0000927089-24-000035.txt ( ) — 340KB
• hfbl-20240214.xsd (EX-101.SCH) — 3KB
• hfbl-20240214_def.xml (EX-101.DEF) — 11KB
• hfbl-20240214_lab.xml (EX-101.LAB) — 15KB
• hfbl-20240214_pre.xml (EX-101.PRE) — 11KB
• hfbil20240214_8k_htm.xml (XML) — 3KB

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

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Not applicable. (e) On February 14, 2024, Home Federal Bancorp, Inc. of Louisiana (the "Company") and its wholly owned subsidiary Home Federal Bank (the "Bank") (collectively, the "Employers") entered into a Transition Agreement with Glen W. Brown, the Senior Vice President and Chief Financial Officer of each of the Employers. The Transition Agreement provides that Mr. Brown will continue to serve as Senior Vice President and Chief Financial Officer on an at-will basis through and including December 31, 2024 (the "Transition Period"). Commencing on January 1, 2025, Mr. Brown will serve the Employers as Treasurer on a part-time (no more than 20 hours per week) or as-needed consultant basis, and Mr. Brown will retire on or before November 15, 2025 (or such shorter period as shall be mutually agreed to by the parties in good faith). Between now and December 31, 2024, Mr. Brown will assist and train his successor. Mr. Brown will continue to receive his current annual salary during the Transition Period, plus such bonus payments as may be determined by the Boards of Directors of the Employers. Beginning January 1, 2025, Mr. Brown's base salary shall be an amount per annum that equals 50% of his base salary for 2024. During the Transition Period, Mr. Brown will continue to be eligible to participate in the benefit plans of the Employers, to the extent commensurate with his then duties and responsibilities and provided that his services continue to satisfy the eligibility requirements of the applicable plan, and the Employers will continue to provide him with disability, life and AD&D coverage through December 31, 2024. In addition, the Employers will continue to pay the premiums for Mr. Brown's Medicare supplement and Part D drug coverage throug

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits. The following exhibit is filed herewith. Exhibit Number Description 10.1 Transition Agreement between Home Federal Bancorp, Inc. of Louisiana, Home Federal Bank and Glen W. Brown dated February 14, 2024 10.2 Transition Agreement between Home Federal Bank and Adalberto Cantu, Jr. dated February 14, 2024 2

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 thereunto duly authorized. HOME FEDERAL BANCORP, INC. OF LOUISIANA Date: February 16, 2024 By: /s/James R. Barlow James R. Barlow Chairman of the Board, President and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR