QCR Holdings Inc. Reports Board and Compensation Changes
Ticker: QCRH · Form: 8-K · Filed: Jan 8, 2025 · CIK: 906465
| Field | Detail |
|---|---|
| Company | Qcr Holdings Inc (QCRH) |
| Form Type | 8-K |
| Filed Date | Jan 8, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, compensation
TL;DR
QCR Holdings board shakeup and comp plan updates filed Jan 3.
AI Summary
QCR Holdings, Inc. announced on January 3, 2025, a change in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans. Specific financial figures related to these changes were not detailed in this initial report.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial outlook, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate underlying issues or strategic shifts that may affect the company's future performance and stability.
Key Players & Entities
- QCR Holdings, Inc. (company) — Registrant
- January 3, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Moline, Illinois (location) — Principal executive offices
FAQ
What specific reasons were given for the departure of certain officers or directors?
The filing indicates "Departure of Directors or Certain Officers" as an item of report, but does not specify the reasons for these departures in the provided text.
Who are the newly elected directors?
The filing mentions the "Election of Directors" as an item of report, but the names of the newly elected directors are not provided in this excerpt.
What are the key changes in the compensatory arrangements for certain officers?
The filing lists "Compensatory Arrangements of Certain Officers" as an item of report, but the specific details of these arrangements are not included in the provided text.
When was the former company name "QUAD CITY HOLDINGS INC" changed?
The date of the name change from "QUAD CITY HOLDINGS INC" to QCR Holdings, Inc. was August 5, 1993.
What is the Standard Industrial Classification code for QCR Holdings, Inc.?
The Standard Industrial Classification code for QCR Holdings, Inc. is 6022, which corresponds to STATE COMMERCIAL BANKS.
Filing Stats: 662 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2025-01-08 16:05:15
Key Financial Figures
- $1.00 — nge on which registered Common Stock, $1.00 Par Value QCRH The Nasdaq Global Ma
Filing Documents
- f8k_010825.htm (8-K) — 21KB
- exh_101.htm (EX-10.1) — 39KB
- 0001171843-25-000131.txt ( ) — 238KB
- qcrh-20250103.xsd (EX-101.SCH) — 3KB
- qcrh-20250103_lab.xml (EX-101.LAB) — 33KB
- qcrh-20250103_pre.xml (EX-101.PRE) — 22KB
- f8k_010825_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. John H. Anderson Consulting Services Agreement QCR Holdings, Inc. (the "Company") previously announced on May 20, 2024, that John H. Anderson would retire from his roles as Chief Deposit Officer for the Company and as Chief Executive Officer for the Company's wholly-owned bank subsidiary, Quad City Bank and Trust Company ("QCBT"), effective January 3, 2025 (the "Retirement"). In connection with the Retirement, on May 20, 2024, the Company, QCBT, and Mr. Anderson entered into an Addendum to Mr. Anderson's Employment Agreement with QCBT and the Company dated January 9, 2019 (together, the "Employment Agreement"). On January 3, 2025, QCBT and Mr. Anderson further entered into a Consulting Services Agreement (the "Agreement"), pursuant to which Mr. Anderson will provide certain consulting services to QCBT until December 31, 2025. Services to be provided under the Agreement include advice and consultation on business development, employee coaching and mentoring and other similar matters as necessary to aid in the transition required by the Retirement. Pursuant to the terms of the Agreement, in addition to and separately from any benefits Mr. Anderson is entitled to under the Employment Agreement, he will receive a monthly consulting retainer throughout the duration of the Agreement, as well as reimbursement for certain expenses. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits . (d) Exhibits. 10.1 Consulting Services Agreement, dated January 3, 2025, between Quad City Bank and Trust Company and John H. Anderson. 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. Date: January 8, 2025 QCR HOLDINGS, Inc. By: /s/ Todd A. Gipple Name: Todd A. Gipple Title: President and Chief Financial Officer