Short answer
HORIZON BANCORP INC /IN/ (HBNC) filed an 8-K current report with the SEC on March 4, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Chief Administration Officer role eliminated at Horizon Bancorp and Horizon Bank, effective March 31, 2026: EVP Mark E. Secor departing.
HORIZON BANCORP INC /IN/ 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Chief Administration Officer role eliminated at Horizon Bancorp and Horizon Bank, effective March 31, 2026: EVP Mark E. Secor departing
- Severance capped at 13 weeks of pay (1 week per year of service) under standard Bank severance policy
- Also receives pro-rated 2026 Executive Officer Bonus Plan cash payment at target through March 31, 2026
- Departure explicitly not related to any financial, accounting, or other disagreement: reducing governance concern
- Position elimination (not replacement) signals ongoing cost discipline or organizational restructuring at the executive level
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