Equity Bancshares Inc 8-K, filed Feb 7, 2025
Equity Bancshares Inc (EQBK)
About this 8-K
Equity Bancshares Inc filed this 8-K on February 7, 2025, reporting on events of February 3, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
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SECURITIES AND EXCHANGE COMMISSION
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 3, 2025, Gregory H. Kossover was appointed as Executive Vice President, Capital Markets of Equity Bank. Mr. Kossover, age 62, served as Executive Vice President and Chief Financial Officer of Equity Bancshares, Inc. (the “Company”) from October 2013 through April 2020, at which point he transitioned to the role of Executive Vice President and Chief Operating Officer until his retirement from banking in May 2023. He has served as a member of the Board of Directors of the Company (the “Board”) since December 2011. From June 2023 until January 2025, Mr. Kossover served as the President and Chief Financial Officer of Vantage Point Properties, Inc., a commercial real estate development and management company.
In connection with his appointment, Mr. Kossover will receive a base salary of $400,000 and will be eligible to receive an annual incentive bonus of up to 50% of his base salary, which shall be payable in cash. Mr. Kossover will receive an equity award in connection with his appointment with a target grant date fair value equal to $250,000, which will be comprised of time-based restricted stock units or stock options that will vest in five equal annual installments beginning on the first anniversary of his employment, subject to his continuing employment through each such vesting date.
There are no family relationships between Mr. Kossover and any director or executive officer of the Company, or person nominated or chosen by the Company to become a director or executive officer of the Company, nor are there any arrangements or understandings between Mr. Kossover and other persons pursuant to which he was appointed as an executive officer of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions proposed, in which Mr. Kossover or any member of his immediate family, has a direct or indirect material interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
Mr. Kossover will continue serving on the Board and will remain a member of the Risk Committee of the Company and Loan Committee of Equity Bank.
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.
| Equity Bancshares, Inc. | ||||||
| Date: February 7, 2025 | By: | /s/ Chris M. Navratil | ||||
| Chris M. Navratil | ||||||
| Executive Vice President and Chief Financial Officer | ||||||