FirstSun Capital Bancorp Announces Board and Compensation Changes
Ticker: FSUN · Form: 8-K · Filed: Dec 23, 2024 · CIK: 1709442
Sentiment: neutral
Topics: governance, board-changes, compensation
TL;DR
Board shakeup and pay adjustments at FirstSun Capital Bancorp.
AI Summary
FirstSun Capital Bancorp announced on December 19, 2024, changes in its board of directors and executive compensation. The filing details the departure of a director and the election of a new director, along with updates to compensatory arrangements for certain officers.
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 — The filing reports routine corporate governance changes and does not indicate any significant financial distress or operational issues.
Key Players & Entities
- FirstSun Capital Bancorp (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- December 19, 2024 (date) — Date of earliest event reported
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but the specific name is not provided in the provided text.
Who was elected to the board of directors?
The filing states the election of a new director, but the specific name is not provided in the provided text.
What is the exact date of the earliest event reported in this 8-K?
The earliest event reported is dated December 19, 2024.
What is the principal executive office address of FirstSun Capital Bancorp?
The principal executive offices are located at 1400 16th Street, Suite 250, Denver, Colorado 80202.
What is the telephone number for FirstSun Capital Bancorp?
The registrant's telephone number, including area code, is (303) 831-6704.
Filing Stats: 572 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-12-23 17:11:08
Filing Documents
- fcb-20241219.htm (8-K) — 26KB
- 0001709442-24-000081.txt ( ) — 153KB
- fcb-20241219.xsd (EX-101.SCH) — 2KB
- fcb-20241219_lab.xml (EX-101.LAB) — 23KB
- fcb-20241219_pre.xml (EX-101.PRE) — 13KB
- fcb-20241219_htm.xml (XML) — 3KB
From the Filing
fcb-20241219 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): December 19, 2024 FIRSTSUN CAPITAL BANCORP (Exact name of registrant as specified in its charter) Delaware 333-258176 81-4552413 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 1400 16th Street , Suite 250 Denver , Colorado 80202 (Address of principal executive offices and zip code) ( 303 ) 831-6704 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.0001 Par Value FSUN Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17CFR 230.405) or 12b-2 of the Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 19, 2024, Christopher C. Casciato resigned as a director of FirstSun Capital Bancorp (the "Company"). Mr. Casciato's decision did not involve a disagreement with the Company. Mr. Casciato has served as a board member of the Company since 2017 as the director representative for Lightyear Fund III. L.P. ("Lightyear") under the Stockholders' Agreement entered into between the Company and certain of its stockholders dated June 19, 2017, as amended, (the "Stockholders' Agreement") which provides Lightyear the right to nominate one representative to the Company's board of directors. Lightyear's nominating right will terminate at such time as Lightyear and their affiliates collectively own less than 577,193 shares of the Company's common stock, or 40% of their common stock ownership position purchased by Lightyear in 2012 and 2013 private placements. The 40% threshold is based on the number of shares of common stock held by Lightyear as of the date of the Stockholders' Agreement. Mr. Casciato expressed his pleasure serving on the Board of the Company and wished continued success to the Company. Mr. Casciato has been a valuable board member since 2017, and the Company similarly appreciates his contributions during his tenure. The Company thanks Mr. Casciato for his service to the Company and wishes him the best in future endeavors. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRSTSUN CAPITAL BANCORP Date: December 23, 2024 By: /s/ Neal E. Arnold Name: Neal E. Arnold Title: Chief Executive Officer