Short answer
Carter Bankshares, Inc. (CARE) filed an 8-K current report with the SEC on June 24, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Amended agreements cover CEO Litz H. Van Dyke, President/Chief Strategy Officer Bradford N. Langs, CFO Wendy S. Bell, COO Matthew M. Speare, and Chief Credit Officer Tony E. Kallsen.
Carter Bankshares, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Amended agreements cover CEO Litz H. Van Dyke, President/Chief Strategy Officer Bradford N. Langs, CFO Wendy S. Bell, COO Matthew M. Speare, and Chief Credit Officer Tony E. Kallsen
- Base salaries now establish contractual salary floors, supporting executive retention and potentially increasing future severance obligations
- One month of severance added for qualifying non-full-severance terminations under Virginia law effective July 1, 2026
- Expanded clawbacks and clarified duty-of-loyalty standards strengthen company recoupment and termination rights
- Revised noncompetition provisions and removal of automatic change-of-control payout preserve flexibility but alter executive protections in a transaction
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Carter Bankshares, Inc. 8-K filings
Get the next CARE 8-K as it lands
Follow CARE for push alerts, or ask the research agent what this filing means.