Parke Bancorp Elects New Directors, Approves Executive Compensation
Ticker: PKBK · Form: 8-K · Filed: Mar 22, 2024 · CIK: 1315399
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Parke Bancorp adds 2 directors, inks new exec pay deals.
AI Summary
Parke Bancorp, Inc. announced on March 19, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Robert J. DiStanislao and Joseph J. Gagliano, to its Board of Directors. Additionally, the company entered into new employment agreements with key executives, including President and CEO, Bradford L. Corby, and CFO, David M. Smith.
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: medium — Changes in board and executive compensation can introduce uncertainty regarding future strategic direction and management stability.
Key Players & Entities
- Parke Bancorp, Inc. (company) — Registrant
- Robert J. DiStanislao (person) — Newly elected director
- Joseph J. Gagliano (person) — Newly elected director
- Bradford L. Corby (person) — President and CEO
- David M. Smith (person) — CFO
- March 19, 2024 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to Parke Bancorp's Board?
Robert J. DiStanislao and Joseph J. Gagliano were elected as new directors.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 19, 2024.
What are the main items covered in this 8-K filing?
This filing covers 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 Parke Bancorp, Inc.'s state of incorporation?
Parke Bancorp, Inc. is incorporated in New Jersey.
What is the principal executive office address for Parke Bancorp, Inc.?
The principal executive offices are located at 601 Delsea Drive, Washington Township, New Jersey 08080.
Filing Stats: 654 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-03-22 09:17:30
Key Financial Figures
- $0.10 — ich Registered Common Stock, Par Value $0.10 per share PKBK The Nasdaq Stock Mar
Filing Documents
- d44879d8k.htm (8-K) — 27KB
- d44879dex101.htm (EX-10.1) — 81KB
- 0001193125-24-074696.txt ( ) — 242KB
- pkbk-20240319.xsd (EX-101.SCH) — 3KB
- pkbk-20240319_lab.xml (EX-101.LAB) — 17KB
- pkbk-20240319_pre.xml (EX-101.PRE) — 11KB
- d44879d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed herewith: Number Description 10.1 Management Change In Control Severance Agreement dated March 19, 2024, by and between Parke Bancorp, Inc. and Jonathan D. Hill. 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. PARKE BANCORP, INC. Date: March 22, 2024 By: /s/ Vito S. Pantilione Vito S. Pantilione President and Chief Executive Officer (Duly Authorized Representative)