Bear State Financial (NASDAQ:BSF) 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 February 15, 2017, the Board of Directors (the “Board”) of Bear State Financial, Inc. (the “Company”) increased the size of the Board from eleven directors to twelve directors and elected William Changose to fill the resulting vacancy. At this time, the Board does not intend to add Mr. Changose to any of the Board’s standing committees, but may do so in the future.
Mr. Changose will be compensated in accordance with the Company’s standard cash and equity compensation arrangements for non-employee directors, which are described in greater detail in the Company’s definitive proxy statement on Schedule 14A relating to its 2016 Annual Meeting of Shareholders, which was filed with the Securities and Exchange Commission on April 20, 2016.
Mr. Changose currently serves as the Chief Operating Officer of both Westrock Capital Partners, LLC and Westrock Group, LLC and serves as President of Westrock Coffee Roasting, LLC. In addition, he serves as Chief Operating Officer of Bear State Financial Holdings, LLC (“BSF Holdings”), the Company’s largest shareholder. Mr. Changose originally joined Westrock Capital Partners in 2009, BSF Holdings in 2011 and Westrock Group and Westrock Coffee in 2014. Prior to his corporate experience, Mr. Changose served as an officer and pilot in the United States Air Force for 23 years, retiring with the rank of Colonel. Mr. Changose holds a B.S. in economics from the United States Air Force Academy, a M.B.A. from Golden Gate University and a J.D. from the University of Arkansas at Little Rock Bowen School of Law.
Since the beginning of the Company’s last fiscal year through the date hereof, there have been no transactions with the Company, and there are currently no proposed transactions with the Company, in which the amount involved exceeds $120,000 and in which Mr. Changose had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K. No arrangement or understanding exists between Mr. Changose and any other person to which Mr. Changose was selected as a director of the Company.
About Bear State Financial (NASDAQ:BSF)
Bear State Financial, Inc., formerly First Federal Bancshares of Arkansas, Inc., is a bank holding company. The Company’s subsidiary Bear State Bank, N.A. (the Bank) is a community-oriented national bank, which offers a range of retail and business deposit accounts, including noninterest bearing and interest bearing checking accounts, savings and money market accounts, certificates of deposit and individual retirement accounts. Loan products offered by the Bank include residential real estate loans, consumer loans, construction loans, lines of credit, commercial real estate loans and commercial business loans. The Bank’s other financial services include automated teller machines; around the clock telephone banking; online banking, including account access, bill payment, and e-statements; mobile banking, including remote deposit capture and funds transfer; Bounce Protection overdraft service; debit cards, and safe deposit boxes. Bear State Financial (NASDAQ:BSF) Recent Trading Information
Bear State Financial (NASDAQ:BSF) closed its last trading session up +0.04 at 9.65 with 21,188 shares trading hands.