United Community Banks Reports Director, Officer, and Compensation Changes
Ticker: UCB · Form: 8-K · Filed: Feb 11, 2025 · CIK: 857855
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes, compensation
Related Tickers: UCBI
TL;DR
UCBI filed an 8-K detailing board/officer changes and compensation updates.
AI Summary
United Community Banks, Inc. filed an 8-K on February 10, 2025, reporting changes in its board of directors and certain officers, along with updates to compensatory arrangements. The filing also includes financial statements and exhibits.
Why It Matters
Changes in a company's leadership and compensation structures can signal shifts in strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing is routine corporate disclosure and does not indicate immediate financial distress or significant operational risk.
Key Players & Entities
- UNITED COMMUNITY BANKS, INC. (company) — Registrant
- February 10, 2025 (date) — Date of earliest event reported
- Georgia (jurisdiction) — State of incorporation
- 200 East Camperdown Way Greenville, South Carolina 29601 (address) — Principal executive offices
FAQ
What specific changes were made to the board of directors or certain officers?
The filing indicates "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers" as an item of disclosure, but the specific details of these changes are not provided in the provided text.
What kind of compensatory arrangements were updated?
The filing lists "Compensatory Arrangements of Certain Officers" as an item of disclosure, but the specific details of these arrangements are not elaborated upon in the provided text.
Are there any new financial statements included with this filing?
Yes, the filing explicitly states "Financial Statements and Exhibits" as an item of disclosure.
When was United Community Banks, Inc. incorporated?
United Community Banks, Inc. was incorporated in Georgia.
What is the principal executive office address for United Community Banks, Inc.?
The principal executive offices are located at 200 East Camperdown Way Greenville, South Carolina 29601.
Filing Stats: 1,005 words · 4 min read · ~3 pages · Grade level 13.2 · Accepted 2025-02-11 09:51:15
Key Financial Figures
- $1 — ich Registered Common stock, par value $1 per share UCB New York Stock Exchange
- $675,000 — Bradshaw's base salary is not less than $675,000, annual cash incentive opportunity at t
Filing Documents
- ucbi-20250210.htm (8-K) — 38KB
- ex101bradshawemploymentagr.htm (EX-10.1) — 159KB
- 0000857855-25-000015.txt ( ) — 386KB
- ucbi-20250210.xsd (EX-101.SCH) — 3KB
- ucbi-20250210_def.xml (EX-101.DEF) — 15KB
- ucbi-20250210_lab.xml (EX-101.LAB) — 27KB
- ucbi-20250210_pre.xml (EX-101.PRE) — 16KB
- ucbi-20250210_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On February 10, 2025, the Talent and Compensation Committee of the Board of Directors (the " Committee ") of United Community Banks, Inc. (the " Company ") approved, and the Company entered into, an employment agreement with Richard W. Bradshaw, dated as of February 10, 2025 (the " Employment Agreement "). Under the terms of the Employment Agreement, Mr. Bradshaw will continue to serve as Executive Vice President and Chief Banking Officer of the Company and President and Chief Banking Officer of United Community Bank, a South Carolina state-chartered bank and a wholly owned subsidiary of the Company. The Employment Agreement is effective as of February 10, 2025 for a one-year term that extends automatically for an additional year commencing on the first anniversary of the effective date and each annual anniversary thereafter, unless notice of nonrenewal is provided. Upon a change in control of the Company, the Change in Control Continuity Agreement, dated February 14, 2023 between the Company and Mr. Bradshaw will supersede the Employment Agreement. Under the terms of the Employment Agreement, Mr. Bradshaw's base salary is not less than $675,000, annual cash incentive opportunity at target is not less than 100% of base salary (the " Target Incentive Award Opportunity ") and annual long-term incentive award opportunity will have a target grant date fair value of not less than 125% of his base salary, with the annual incentive award and long-term incentive awards to be determined by the Committee pursuant to the terms of the applicable plans and on a basis and with terms consistent with other executive officers of the Company, although Mr. Bradshaw's future long-term incentive awards will include vesting or continued vesting provisions that would apply upon his retirement on or after age 67. Upon a termina
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits EXHIBIT INDEX Exhibit No. Description of Exhibit 10.1 Employment Agreement between Richard W. Bradshaw and United Community Banks, Inc., dated as of February 10, 2025. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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. UNITED COMMUNITY BANKS, INC. By: / s / Melinda Davis Lux Name: Melinda Davis Lux Title: Executive Vice President, General Counsel and Corporate Secretary Date: February 10, 2025