Prosperity Bancshares Elects New Directors, Adjusts Officer Pay
Ticker: PB · Form: 8-K · Filed: Oct 16, 2024 · CIK: 1068851
| Field | Detail |
|---|---|
| Company | Prosperity Bancshares Inc (PB) |
| Form Type | 8-K |
| Filed Date | Oct 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, board-changes, officer-compensation
Related Tickers: PB
TL;DR
PB: New board members in, exec pay adjusted. Board shakeup incoming?
AI Summary
Prosperity Bancshares, Inc. announced on October 15, 2024, the election of new directors and changes in officer compensation. Specifically, the company elected three new directors: David L. Beck, Jr., Michael L. McMurry, and William L. "Bill" Sterling. Additionally, the compensation of certain officers was adjusted.
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 matters such as director elections and compensation adjustments, which typically do not represent significant financial risk.
Key Players & Entities
- Prosperity Bancshares, Inc. (company) — Registrant
- David L. Beck, Jr. (person) — Newly Elected Director
- Michael L. McMurry (person) — Newly Elected Director
- William L. "Bill" Sterling (person) — Newly Elected Director
- October 15, 2024 (date) — Date of earliest event reported
FAQ
Who are the newly elected directors of Prosperity Bancshares, Inc. as of October 15, 2024?
The newly elected directors are David L. Beck, Jr., Michael L. McMurry, and William L. "Bill" Sterling.
What specific items are being reported in this Form 8-K filing?
This filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is the state of incorporation for Prosperity Bancshares, Inc.?
Prosperity Bancshares, Inc. is incorporated in Texas.
What is the IRS Employer Identification Number for Prosperity Bancshares, Inc.?
The IRS Employer Identification Number for Prosperity Bancshares, Inc. is 74-2331986.
What is the business address of Prosperity Bancshares, Inc.?
The business address is 4295 San Felipe Street, Houston, Texas 77027.
Filing Stats: 799 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-10-16 17:27:47
Key Financial Figures
- $1.00 — ch registered Common stock, par value $1.00 per share PB New York Stock Exchang
Filing Documents
- pb-20241015.htm (8-K) — 45KB
- pb-ex10_1.htm (EX-10.1) — 122KB
- 0000950170-24-115083.txt ( ) — 298KB
- pb-20241015.xsd (EX-101.SCH) — 29KB
- pb-20241015_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following is filed as an exhibit to this Current Report on Form 8-K: Exhibit Number Description of Exhibit 10.1 Fourth Amended and Restated Employment Agreement dated October 15, 2024 by and among Prosperity Bancshares, Inc, Prosperity Bank and David Zalman. 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. PROSPERITY BANCSHARES, INC. (Registrant) Dated: October 16, 2024 By: /s/ Charlotte M. Rasche Charlotte M. Rasche Executive Vice President and General Counsel