SMARTFINANCIAL Names New Directors and Officers
Ticker: SMBK · Form: 8-K · Filed: Dec 6, 2024 · CIK: 1038773
Sentiment: neutral
Topics: corporate-governance, executive-appointments, board-of-directors
Related Tickers: SMBC
TL;DR
SMARTFINANCIAL adds two directors and new execs, adjusting pay. Board shakeup incoming.
AI Summary
On December 4, 2024, SMARTFINANCIAL, INC. announced changes to its board of directors and executive compensation. Specifically, the company elected two new directors, John R. Brannon and W. Mark Pendergrast, Jr., and appointed new officers including a Chief Information Officer and a Chief Risk Officer. The filing also details adjustments to the compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive appointments can signal shifts in company strategy or governance, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes and executive appointments, with no immediate financial distress or significant operational risks indicated.
Key Players & Entities
- SMARTFINANCIAL, INC. (company) — Registrant
- John R. Brannon (person) — Newly elected director
- W. Mark Pendergrast, Jr. (person) — Newly elected director
- Tennessee (location) — State of incorporation
- Knoxville (location) — Principal executive office city
FAQ
Who were the new directors elected to the SMARTFINANCIAL, INC. board?
SMARTFINANCIAL, INC. elected John R. Brannon and W. Mark Pendergrast, Jr. as new directors.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 4, 2024.
What is the principal business address of SMARTFINANCIAL, INC.?
The principal business address of SMARTFINANCIAL, INC. is 5401 Kingston Pike, Suite 600, Knoxville, Tennessee 37919.
What is the SIC code for SMARTFINANCIAL, INC.?
The Standard Industrial Classification (SIC) code for SMARTFINANCIAL, INC. is 6021, which corresponds to NATIONAL COMMERCIAL BANKS.
What other items are covered in this 8-K filing besides director and officer changes?
This 8-K filing also covers the election of directors and compensatory arrangements of certain officers.
Filing Stats: 449 words · 2 min read · ~1 pages · Grade level 11 · Accepted 2024-12-06 17:00:10
Key Financial Figures
- $1.00 — nge on which registered Common Stock, $1.00 par value SMBK The New York Stock Ex
Filing Documents
- smbk-20241204x8k.htm (8-K) — 32KB
- 0001558370-24-016069.txt ( ) — 148KB
- smbk-20241204.xsd (EX-101.SCH) — 3KB
- smbk-20241204_lab.xml (EX-101.LAB) — 16KB
- smbk-20241204_pre.xml (EX-101.PRE) — 10KB
- smbk-20241204x8k_htm.xml (XML) — 5KB
02
Item 5.02 Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On December 4, 2024, the board of directors (the "Board") of SmartFinancial, Inc. ("SmartFinancial") received notification from director John M. Presley of his intention to resign from his role as a director of the Board, effective January 1, 2025. Mr. Presley was appointed to the Board in 2021, and is a member of the Board's corporate governance committee. Mr. Presley's decision to resign was not a result of any disagreement with SmartFinancial. SmartFinancial is grateful to Mr. Presley for his valued service and leadership on the Board.
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. SMARTFINANCIAL, INC. Date: December 6, 2024 By: /s/ William Y. Carroll, Jr. Name: William Y. Carroll, Jr. Title: President & Chief Executive Officer