Stellar Bancorp Reports Board and Officer Changes
Ticker: STEL · Form: 8-K · Filed: Jan 10, 2025 · CIK: 1473844
Sentiment: neutral
Topics: leadership-change, governance, officer-appointment
Related Tickers: STEL
TL;DR
Stellar Bancorp (STEL) board shake-up: new directors elected, officers appointed.
AI Summary
On January 6, 2025, Stellar Bancorp, Inc. reported a change in its board of directors and certain officers. The filing details the departure of directors, the election of new directors, and the appointment of new officers, along with information on compensatory arrangements for these key individuals.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: medium — Changes in leadership and board composition can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- Stellar Bancorp, Inc. (company) — Registrant
- January 6, 2025 (date) — Date of earliest event reported
- Texas (location) — State of Incorporation
- 9 Greenway Plaza, Suite 110 (address) — Principal Executive Office Address
FAQ
What specific items are covered under the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' section?
The filing covers the departure of directors, the election of new directors, the appointment of certain officers, and details regarding compensatory arrangements for these individuals.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this filing occurred on January 6, 2025.
What is Stellar Bancorp, Inc.'s state of incorporation?
Stellar Bancorp, Inc. is incorporated in Texas.
What is the principal executive office address for Stellar Bancorp, Inc.?
The principal executive office address is 9 Greenway Plaza, Suite 110, Houston, Texas, 77046.
What is Stellar Bancorp, Inc.'s IRS Employer Identification Number?
Stellar Bancorp, Inc.'s IRS Employer Identification Number is 20-8339782.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2025-01-10 16:30:28
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share STEL New York Stock Exchange
Filing Documents
- stel-20250106.htm (8-K) — 24KB
- 0001473844-25-000003.txt ( ) — 148KB
- stel-20250106.xsd (EX-101.SCH) — 2KB
- stel-20250106_lab.xml (EX-101.LAB) — 22KB
- stel-20250106_pre.xml (EX-101.PRE) — 13KB
- stel-20250106_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers
Item 5.02. Departure of Directors or Certain Officers Retirement of Michael A. Havard from Board of Directors On January 6, 2025, Michael A. Havard a member of the Board of Directors of Stellar Bancorp, Inc. (the "Company") provided notice of his decision to not stand for reelection at the Company's 2025 Annual Shareholder's Meeting (the "2025 Annual Meeting"). Mr. Havard has served as a director of the Company since 2017 and is a member of the Company's Compensation Committee and Audit Committee. Mr. Havard will continue to serve in such roles at the Company until his term as a director of the Company expires at the 2025 Annual Meeting. Upon the completion of his term as a director of the Company, Mr. Havard intends to retire from his positions with the Company. Mr. Havard's decision not to stand for reelection did not arise or result from any disagreement with the Company on any matters relating to the Company's operations, policies or practices.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibits . The following are furnished as exhibits to this Current Report on Form 8-K: Exhibit Number Description of Exhibit 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. STELLAR BANCORP, INC. Date: January 10, 2025 By: /s/ Paul P. Egge Paul P. Egge Chief Financial Officer