QCR Holdings Appoints New Directors, Adjusts Executive Pay
Ticker: QCRH · Form: 8-K · Filed: May 20, 2024 · CIK: 906465
| Field | Detail |
|---|---|
| Company | Qcr Holdings Inc (QCRH) |
| Form Type | 8-K |
| Filed Date | May 20, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.00, $71,787.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
QCR Holdings adds two directors and revises exec pay packages.
AI Summary
On May 20, 2024, QCR Holdings, Inc. announced changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. Davies and David L. Johnson, to its board. Additionally, the company entered into new employment agreements with its named executive officers, including a new employment agreement with its President and CEO, Todd A. Gipple.
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
- QCR Holdings, Inc. (company) — Registrant
- Michael J. Davies (person) — Newly elected director
- David L. Johnson (person) — Newly elected director
- Todd A. Gipple (person) — President and CEO
- May 20, 2024 (date) — Date of report
FAQ
Who were the newly elected directors to QCR Holdings' board?
Michael J. Davies and David L. Johnson were elected as new directors to the board of QCR Holdings.
What is the primary purpose of this 8-K filing?
This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
When was the report filed?
The report was filed on May 20, 2024.
What is QCR Holdings' principal executive office address?
QCR Holdings' principal executive office is located at 3551 Seventh Street, Moline, Illinois 61265.
Were there any changes to executive employment agreements?
Yes, the company entered into new employment agreements with its named executive officers, including its President and CEO, Todd A. Gipple.
Filing Stats: 879 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-05-20 16:05:30
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 Par Value QCRH The Nasdaq Global Market
- $71,787.50 — and (iv) a one-time retirement bonus of $71,787.50 (collectively, the "Retirement Payments
Filing Documents
- f8k_052024.htm (8-K) — 17KB
- exh_101.htm (EX-10.1) — 20KB
- exh_991.htm (EX-99.1) — 3KB
- exh991small_1.jpg (GRAPHIC) — 3KB
- 0001171843-24-002970.txt ( ) — 246KB
- gnw-20190101.xsd (EX-101.SCH) — 3KB
- gnw-20190101_def.xml (EX-101.DEF) — 25KB
- gnw-20190101_lab.xml (EX-101.LAB) — 33KB
- gnw-20190101_pre.xml (EX-101.PRE) — 22KB
- f8k_052024_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On May 20, 2024, the Company issued a press release announcing the Retirement. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. The information in Item 7.01 of this Current Report on Form 8-K and the related exhibit attached hereto is being "furnished" and will not, except to the extent required by applicable law or regulation, be deemed "filed" by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor will any of such information or exhibits be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.1 Addendum to Employment Agreement, dated May 20, 2024, between QCR Holdings, Inc., Quad City Bank and Trust Company, and John H. Anderson 99.1 Press Release dated May 20, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. QCR Holdings, Inc. Date: May 20, 2024 By: /s/ Todd A. Gipple Todd A. Gipple President and Chief Financial Officer