Guaranty Federal Bancshares, Inc. (NASDAQ:GFED) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
(e)
On March 24, 2020, the Company entered into short-term incentive compensation arrangements with respect to bonuses payable in 2020 for Executive Officers Shaun A. Burke, President and Chief Executive Officer, Carter Peters, Chief Financial Officer, Robin Robeson, Chief Operating Officer and Sheri Biser, Chief Credit Officer. The written description of each agreement is attached hereto as Exhibits 10.1 through 10.4 and is incorporated by reference in this Item 502(e).
On March 24, 2020, the Company entered into long-term incentive performance share arrangements for Mr. Burke, Mr. Peters, Ms. Robeson and Ms. Biser. The written description of each agreement is attached hereto as Exhibits 10.5 through 10.8 and is incorporated by reference in this Item 502(e).
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
GUARANTY FEDERAL BANCSHARES INC Exhibit
EX-10.1 2 ex_178853.htm EXHIBIT 10.1 ex_178853.htm Exhibit 10.1 Written Description of 2020 Executive Incentive Compensation Annual Plan – President and Chief Executive Officer The following is a description of the material terms of the 2020 Executive Incentive Compensation Annual Plan (the “Plan”) that was adopted by the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Guaranty Federal Bancshares,…
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About Guaranty Federal Bancshares, Inc. (NASDAQ:GFED)
Guaranty Federal Bancshares, Inc. is the savings and loan holding company for Guaranty Federal Savings Bank (the Bank). The Company operates through banking operation segment. The banking segment is engaged in the business of originating mortgage loans secured by one- to four-family residences, multi-family, construction, commercial and consumer loans. The Bank’s primary market areas are Greene and Christian Counties, which are in the southwestern corner of Missouri, and includes the cities of Springfield, Nixa and Ozark, and Missouri. The Bank’s loan portfolio consists of mortgage loans, including one- to four-family loans, multi-family loans, construction loans and commercial real estate loans; commercial business loans, and consumer loans. The Bank invests in mortgage-backed securities, the United States Government and federal agency securities, and other marketable securities. The Company owns Guaranty Statutory Trust I and Guaranty Statutory Trust II.
