1st Source Corp Reports Director Changes and Compensation Updates
Ticker: SRCE · Form: 8-K · Filed: May 1, 2024 · CIK: 34782
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: SRCE
TL;DR
1st Source Corp (SRCE) filed an 8-K on 4/25, announcing director changes and executive comp updates. Watch for governance shifts.
AI Summary
On April 25, 2024, 1st Source Corporation filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, as well as financial statements and exhibits.
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: low — This filing primarily concerns routine corporate governance matters and executive compensation, which typically carry a low inherent risk.
Key Players & Entities
- 1st Source Corporation (company) — Registrant
- Indiana (location) — State of incorporation
- South Bend (location) — Principal executive offices
- April 25, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors, but the specific names and details of any changes are not provided in the provided text.
What are the key updates to the compensatory arrangements for certain officers?
The filing mentions updates to compensatory arrangements, but the specific details of these arrangements are not elaborated in the provided text.
What is the significance of the 'Financial Statements and Exhibits' item?
This item indicates that financial statements and other relevant exhibits are being filed along with the 8-K report, providing supporting documentation for the disclosed information.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on April 25, 2024.
What is the primary business of 1st Source Corporation?
1st Source Corporation is classified under 'STATE COMMERCIAL BANKS' with SIC code 6022.
Filing Stats: 590 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-05-01 15:16:30
Filing Documents
- source-20240425.htm (8-K) — 22KB
- exhibit991newsrelease5124.htm (EX-99.1) — 12KB
- andreashort.jpg (GRAPHIC) — 1377KB
- corplogo.jpg (GRAPHIC) — 18KB
- 0000034782-24-000058.txt ( ) — 2082KB
- source-20240425.xsd (EX-101.SCH) — 2KB
- source-20240425_lab.xml (EX-101.LAB) — 22KB
- source-20240425_pre.xml (EX-101.PRE) — 13KB
- source-20240425_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
ITEM 9.01 Financial Statements and Exhibits. Exhibit 99.1 : Press release issued by 1st Source Corporation on May, 1 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. 1st SOURCE CORPORATION (Registrant) Date: May 1, 2024 /s/ BRETT A. BAUER Brett A. Bauer Treasurer and Chief Financial Officer Principal Accounting Officer