UNITED COMMUNITY BANKS, INC. (NASDAQ:UCBI) 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 April 2, 2018, United Community Banks, Inc. (the “Company”), the holding company for United Community Bank, Blairsville, Georgia (the “Bank”), issued a press release announcing Jimmy C. Tallent’s decision to retire from his current position as Chief Executive Officer and Chairman of the Company effective June 30, 2018 (the “Transition Date”), and to continue to serve the Company as Executive Chairman. As of the Transition Date, Lynn Harton will assume the role of Chief Executive Officer of the Company. Mr. Harton has served as director and President of the Company since 2012 and Chief Executive Officer of the Bank since 2017.
to a transition agreement between Mr. Tallent and the Company (the “Transition Agreement”), Mr. Tallent will begin to serve as Executive Chairman effective July 1, 2018. As Executive Chairman, Mr. Tallent’s total compensation will be reduced by 40% through a reduction in his base salary and cash and equity incentive awards. Mr. Tallent will serve as a consultant after his service as Executive Chairman.
In connection with his appointment to Chief Executive Officer of the Company, the Company and Mr. Harton did not enter into any new, and did not amend any existing, compensatory arrangements, nor did the Company make any additional grants or awards to Mr. Harton.
A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits
| Exhibit No. | Description |
| 99.1 | Press Release dated April 2, 2018 |
UNITED COMMUNITY BANKS INC ExhibitEX-99.1 2 tv490082_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 For Immediate Release For more information: Jefferson Harralson Chief financial Officer 864.240.6208 [email protected] Emily Mosely Crawford Strategy 864.248.4290 [email protected] UNITED COMMUNITY BANKS,…To view the full exhibit click here
About UNITED COMMUNITY BANKS, INC. (NASDAQ:UCBI)
United Community Banks, Inc. is a bank holding company. The Company’s principal business is conducted by its subsidiary, United Community Bank (the Bank). The Bank is a chartered commercial bank that serves markets throughout north Georgia, coastal Georgia, the Atlanta-Sandy Springs-Roswell, Georgia and Gainesville, Georgia metropolitan statistical areas, western North Carolina, upstate South Carolina and east Tennessee. The Bank provides a full range of banking services. The Bank, through its full-service retail mortgage lending division, United Community Mortgage Services (UCMS), is approved as a seller/servicer for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), and provides fixed and adjustable-rate home mortgages. The Bank owns an insurance agency, United Community Insurance Services, Inc. (UCIS), known as United Community Advisory Services, which is a subsidiary of the Bank.
