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

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:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities 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(c) – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

On Monday, June 26, 2023, ServisFirst Bancshares, Inc. (the “Company”), announced the appointment of Mr. Kirk Pressley, 57, as Executive Vice President of Strategic Planning at ServisFirst Bank (the “Bank”). The Company’s Board of Directors approved Mr. Pressley’s appointment on June 20, 2023.

Prior to joining ServisFirst Bank, Mr. Pressley started his career as an external auditor focused on financial institutions for two large international public accounting firms. Pressley then served as the Controller for BBVA USA Bancshares, previously BBVA Compass Bancshares, from 2003 to 2015. He most recently held the position of Senior Executive Vice President and CFO of BBVA USA, Houston, Texas, from 2015 to 2021. As EVP of Strategic Planning at ServisFirst Bank, Pressley works along with management to identify current goals and ensure the Bank is prepared to meet the challenges of the industry.

Mr. Pressley does not have any family relationships with any of the Company’s directors or executive officers. Mr. Pressley does not have any arrangement or understanding with any person pursuant to which he was named or selected to be an officer of the Company or the Bank. Mr. Pressley is not a party to any transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Pressley has a base salary of $361,000 and is guaranteed a cash bonus payable in February 2024 equal to thirty percent (30%) of his base salary. Upon his appointment, Mr. Pressley received an equity award of 10,000 shares of restricted stock with a graded vesting period of five years. Mr. Pressley is eligible to participate in other Company benefits, including 401(k), health care and similar plans.

Mr. Pressley also entered into a Change in Control Agreement, which provides him with certain employment protections for a two-year period following a change in control of the Company (the “Protected Period”). If the Mr. Pressley’s employment is terminated during the Protected Period without Cause or by Mr. Pressley with Good Reason (as those terms are defined in the Change in Control Agreement), he would be entitled to receive, among other benefits: (1) a cash severance payment equal to 2 times the sum of (a) his base salary at the time of termination, and (b) the average cash bonus paid to Mr. Pressley over the prior three years; and (2) a pro-rata bonus for the fiscal year in which the termination occurs. He would also be entitled to receive a lump sum cash payment equal to 18 months’ worth of COBRA premiums, based on Mr. Pressley’s then-current coverage elections. In addition, certain pre-change in control terminations will be deemed to constitute change in control terminations if such terminations occur at the request or direction of a person who has entered into an agreement which would constitute a change in control upon consummation, or in connection with or anticipation of a change in control transaction with such person, subject to certain conditions.

The foregoing summary of the terms of the Change in Control Agreement is subject to, and qualified in its entirety by, the form of Change in Control Agreement, which was filed as Exhibit 10 to the Company’s Current Report on Form 8-K, filed February 25, 2021.

Item 9.01 – Financial Statements and Exhibits

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.

Exhibit 99.1

ServisFirst Bank Announces New Executive Vice President

Kirk Pressley Joins as Executive Vice President of Strategic Planning

BIRMINGHAM, Ala.--(BUSINESS WIRE)--June 26, 2023--ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), is pleased to announce the addition of Kirk Pressley as Executive Vice President of Strategic Planning at ServisFirst Bank in Birmingham, Alabama.

“We are proud to welcome Kirk Pressley to the ServisFirst Bank Birmingham team,” states Tom Broughton, ServisFirst Bank Chairman, President and CEO. “Kirk’s skilled leadership, strategic thinking, and impressive experience will be key in contributing to our continued success in serving our valued customers.”

Kirk Pressley has spent his 35-year career in Birmingham, Alabama, and Houston, Texas. Prior to joining ServisFirst Bank, Pressley started his career as an external auditor focused on financial institutions for two large international public accounting firms. Pressley then served as the Controller for BBVA USA Bancshares, previously BBVA Compass Bancshares. He most recently held the position of Senior Executive Vice President and CFO of BBVA USA, Houston, Texas. As EVP of Strategic Planning at ServisFirst Bank, Pressley works along with management to identify current goals and ensure the bank is prepared to meet the challenges of the industry.

Kirk received a Bachelor of Science in Business Administration degree, Accounting from Auburn University.

For more information regarding ServisFirst Bank’s recent addition to the Birmingham team, please contact Krista Conlin at Krista@KCProjects.net. For more about ServisFirst Bank, please visit www.servisfirstbank.com.

ABOUT SERVISFIRST BANK

ServisFirst Bank is a full-service commercial bank focused on commercial banking, correspondent banking, treasury management, private banking and the professional consumer market, emphasizing competitive products, state-of-the-art technology and a focus on quality service. Recently, the Bank announced that its assets exceed $14 billion. The Bank offers sophisticated treasury management products, Internet banking, home mortgage lending, remote deposit express banking, and highly competitive rates.

ServisFirst Bank was formed in May 2005, and has offices in Atlanta, Birmingham, Charleston, Charlotte, Dothan, Huntsville, Mobile, Montgomery, Nashville, Northwest Florida, Virginia Beach, West Central Florida, and Western North Carolina. In April 2015, and annually thereafter, ServisFirst Bank has earned investment- grade ratings and a stable outlook from Kroll Bond Rating Agency (KBRA), which measures companies’ financial fundamentals. ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained at www.servisfirstbancshares.com.

Contacts

Krista Conlin, Krista@KCProjects.net