Consumers Bancorp Appoints New CFO
Ticker: CBKM · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1006830
Sentiment: neutral
Topics: executive-appointment, compensation
TL;DR
New CFO Riley starts April 15th, gets $175k base + bonus.
AI Summary
Consumers Bancorp, Inc. announced on April 11, 2024, the appointment of Michael J. Riley as Chief Financial Officer, effective April 15, 2024. Riley will receive an annual base salary of $175,000 and will be eligible for the company's annual incentive plan. He will also receive a one-time signing bonus of $50,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing is a routine executive appointment and compensation disclosure, with no immediate financial distress or significant strategic shifts indicated.
Key Numbers
- $175,000 — CFO Annual Base Salary (Michael J. Riley's starting compensation.)
- $50,000 — CFO Signing Bonus (One-time payment to new CFO Michael J. Riley.)
Key Players & Entities
- Consumers Bancorp, Inc. (company) — Registrant
- Michael J. Riley (person) — Appointed Chief Financial Officer
- $175,000 (dollar_amount) — Annual base salary for new CFO
- $50,000 (dollar_amount) — Signing bonus for new CFO
- April 15, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Consumers Bancorp, Inc.?
Michael J. Riley has been appointed as the new Chief Financial Officer.
When is Michael J. Riley's appointment as CFO effective?
The appointment is effective April 15, 2024.
What is Michael J. Riley's annual base salary?
Michael J. Riley's annual base salary is $175,000.
Will the new CFO receive a signing bonus?
Yes, Michael J. Riley will receive a one-time signing bonus of $50,000.
Is the new CFO eligible for incentive plans?
Yes, Michael J. Riley will be eligible for the company's annual incentive plan.
Filing Stats: 444 words · 2 min read · ~1 pages · Grade level 10.5 · Accepted 2024-04-12 08:17:00
Filing Documents
- cbkm20240411_8k.htm (8-K) — 21KB
- 0001437749-24-011840.txt ( ) — 145KB
- cbkm-20240411.xsd (EX-101.SCH) — 3KB
- cbkm-20240411_def.xml (EX-101.DEF) — 11KB
- cbkm-20240411_lab.xml (EX-101.LAB) — 15KB
- cbkm-20240411_pre.xml (EX-101.PRE) — 11KB
- cbkm20240411_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On April 11, 2024, John P. Furey, age 72, announced he will be retiring as a member of the Board of Directors of Consumers Bancorp, Inc. and Consumers National Bank effective at the conclusion of today's regularly scheduled Board of Directors meeting. Mr. Furey has been a member of the Board since 1995 and his decision to retire did not result from any disagreement relating to Consumers' operations, policies or practices. The Board voted to elect Mr. Furey as a director emeritus.
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. Consumers Bancorp, Inc. Date: April 12, 2024 /s/ Ralph J. Lober Ralph J. Lober, II President and Chief Executive Officer