Bancorp, Inc. Reports Leadership and Compensation Changes

TL;DR

Bancorp's board and exec comp got a shake-up effective Dec 18.

AI Summary

The Bancorp, Inc. filed an 8-K on December 19, 2024, reporting on the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers, all effective as of December 18, 2024. The filing indicates changes within the company's leadership and compensation structures.

Why It Matters

Changes in a company's board of directors and executive officers, along with adjustments to their compensation, can signal shifts in strategic direction or operational focus.

Risk Assessment

Risk Level: medium — Changes in executive leadership and board composition can introduce uncertainty regarding future strategy and performance.

Key Players & Entities

• The Bancorp, Inc. (company) — Registrant
• Delaware (location) — State of incorporation
• December 18, 2024 (date) — Date of earliest event reported
• December 19, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $1.00 — ch registered Common Stock, par value $1.00 per share TBBK Nasdaq Global Select

Filing Documents

• bancorp8k.htm (8-K) — 23KB
• 0002039852-24-000044.txt ( ) — 190KB
• tbbk-20241218.xsd (EX-101.SCH) — 3KB
• tbbk-20241218_lab.xml (EX-101.LAB) — 33KB
• tbbk-20241218_pre.xml (EX-101.PRE) — 22KB
• bancorp8k_htm.xml (XML) — 3KB

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

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 18, 2024, the Board of Directors (the "Board") of The Bancorp, Inc. (the "Company") and its wholly-owned subsidiary, The Bancorp Bank, National Association, appointed Dwayne L. Allen as a director of the Company, effective January 1, 2025. Mr. Allen will serve until the Company's 2025 Annual Meeting of Stockholders or until his successor shall have been duly elected and qualified or his earlier death, resignation, removal, retirement or disqualification. In connection with Mr. Allen's appointment to the Board, the size of the Board was increased to ten (10) directors, effective January 1, 2025. Mr. Allen has over 25 years of senior leadership experience in technology and digital transformation across multiple global industries. Since 2021, Mr. Allen has served as Senior Vice President and Chief Technology Officer at Unisys, a global information technology services company. Prior to Unisys, Mr. Allen was a Global Digital Strategist at Microsoft from 2019 to 2021 and Vice President and Chief Information Officer for Masonite International from 2017 to 2019. Mr. Allen has also held various other leadership roles in information technology, including Division Chief Information Officer at Cummins Inc., Vice President of Information Technology at Fifth Third Bank, and Vice President and Division Chief Information Officer at Wells Fargo. Mr. Allen holds a Bachelor of Arts degree from the University of Virginia and a Master of Business Administration degree from George Washington University. At this time, Mr. Allen has not been named to serve on any committee of the Board, and the Board has not identified any committee to which he is expected to be appointed. Mr. Allen will be entitled to the Company's standard compensation for non-employee directors, including board fees and eligibility to receive stock-

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: December 19, 2024 THE BANCORP, INC. By: /s/ Paul Frenkiel Name: Paul Frenkiel Title: Chief Financial Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR