Westamerica Bancorporation Announces Board and Compensation Plan Changes
Ticker: WABC · Form: 8-K · Filed: Jun 28, 2024
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Westamerica Bancorporation adds a new director and tweaks its executive pay plan.
AI Summary
Westamerica Bancorporation announced on June 28, 2024, changes in its board of directors and executive compensation. Specifically, David L. Nelson has been appointed as a new director, and the company has approved amendments to its 2019 Equity Incentive Plan, impacting future executive compensation arrangements.
Why It Matters
Changes in board composition and executive compensation plans can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and compensation plan adjustments, which typically carry low immediate risk.
Key Players & Entities
- Westamerica Bancorporation (company) — Registrant
- David L. Nelson (person) — Newly appointed director
- 2019 Equity Incentive Plan (plan) — Amended compensatory arrangement
FAQ
Who has been appointed as a new director to Westamerica Bancorporation's board?
David L. Nelson has been appointed as a new director.
What specific compensatory arrangement was amended by Westamerica Bancorporation?
Westamerica Bancorporation amended its 2019 Equity Incentive Plan.
On what date was this Form 8-K filed?
This Form 8-K was filed on June 28, 2024.
What is the principal executive office address for Westamerica Bancorporation?
The principal executive office is located at 1108 Fifth Avenue, San Rafael, California 94901.
What is the Commission File Number for Westamerica Bancorporation?
The Commission File Number is 001-09383.
Filing Stats: 452 words · 2 min read · ~2 pages · Grade level 13.2 · Accepted 2024-06-28 12:13:24
Filing Documents
- f8k_062824.htm (8-K) — 23KB
- 0001171843-24-003696.txt ( ) — 190KB
- wabc-20240628.xsd (EX-101.SCH) — 3KB
- wabc-20240628_lab.xml (EX-101.LAB) — 33KB
- wabc-20240628_pre.xml (EX-101.PRE) — 22KB
- f8k_062824_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Appointment of Certain Officers Effective June 27, 2024, Westamerica Bancorporation (the "Company") appointed Ms. Anela Jonas as Chief Financial Officer. Ms. Jonas is a California licensed certified public accountant (inactive) who has performed a variety of responsibilities in the Company's Finance and Administration Division for thirteen years, including serving as Controller. Effective June 27, 2024, Mr. John "Robert" Thorson will retain his responsibilities as Treasurer and Treasury Division Manager. Mr. Thorson served as the Company's Chief Financial Officer from 2005 through 2019, and from March 2023 through June 2024. 2
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. WESTAMERICA BANCORPORATION (Registrant) Date: June 28, 2024 By: /s/ Anela Jonas Anela Jonas Chief Financial Officer 3