Management ChangeJul 14, 2026, 09:17 AM
Central Plains Bancshares CFO Kool Gets Change in Control Pact
AI Summary
Central Plains Bancshares, Inc.'s wholly-owned subsidiary, Home Federal Savings and Loan Association of Grand Island, entered into a change in control agreement with Bradley M. Kool, Executive Vice President and Chief Financial Officer. The agreement has an initial term of three years and automatically renews for two years upon a change in control. In the event of involuntary termination or resignation for "good reason," Mr. Kool will receive a lump sum severance equal to three times his base salary plus highest annual cash bonus, along with up to 18 months of COBRA premium reimbursement.
Key Highlights
- Central Plains Bancshares' subsidiary entered a change in control agreement with EVP & CFO Bradley M. Kool.
- The agreement has an initial term of three years, with potential for annual extensions.
- It automatically renews for two years from the effective date if a change in control occurs.
- Severance payment for involuntary termination or 'good reason' resignation is three times (base salary + highest annual cash bonus).
- Mr. Kool will receive up to 18 months of COBRA premium reimbursement if he elects coverage.
- 'Good reason' for resignation includes material salary/duty reduction or relocation increasing commute by 35+ miles.
Price Impact
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