Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 17, 2018, Adam D. Compton notified Atlantic Capital Bancshares, Inc. (the “Company”) that he was resigning from the Board of Directors of the Company effective upon the Board of Directors’ acceptance of his resignation. Mr. Compton’s decision to resign was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Mr. Compton was elected to the Board of Directors of the Company at the 2018 Annual Meeting of Shareholders after being designated as a nominee in accordance with that certain Stock Purchase Agreement, dated February 25, 2013 (the “Agreement”), by and between Ulysses Partners, L.P. (“Ulysses”) and First Security Group, Inc. (“FSG”), to which the Company succeeded in connection with the 2015 merger between the Company and FSG. Following the recent disposition by Ulysses of substantially all of the shares of common stock of the Company that it previously held, the Board of Directors requested that Ulysses cause Mr. Compton to resign, to the terms and conditions of the Agreement.
The Board of Directors accepted Mr. Compton’s resignation on July 19, 2018, and the Company has reduced the size of the Board of Directors to eliminate the vacancy created by Mr. Compton’s resignation.
About Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI)
Atlantic Capital Bancshares, Inc. is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed commercial bank. The Bank provides an array of credit, treasury management and deposit products and services to growth businesses, middle market corporations, commercial real estate developers and investors, and private clients. Its wealth management division offers financial planning, trust administration, investment management, brokerage and estate planning services. It also provides selected capital markets, mortgage banking, and electronic banking services to its corporate, business and individual clients. Its private banking credit products include loans to individuals for personal and investment purposes, such as secured installment and term loans, and home equity lines of credit. Its specialty corporate financial services include payments industry banking, financial institutions banking and capital markets services.
