This filing formalizes a previously announced C-suite appointment with standard terms — no new strategic or financial signal. Monitor future filings for any changes to the executive team or operational strategy.
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Executive Summary
First Interstate BancSystem formalized the previously announced appointment of Jeff Lee as Executive Vice President and Chief Operations Officer by executing an employment agreement effective September 14, 2026. The agreement sets a base salary of $480,000 per year and outlines standard severance and change-in-control provisions for a senior operations executive. This is a routine compensatory arrangement following a prior disclosure and carries no material financial impact.
Key Facts
- Jeff Lee appointed as Executive Vice President and Chief Operations Officer, effective September 14, 2026.
- Base salary set at $480,000 per year.
- Severance on non-cause termination: 1x base salary plus 1x average of prior 3 years' annual incentive, paid over 12 months.
- Change-in-control severance: 2x base salary plus 2x target annual incentive plus pro-rata target bonus, paid over 12 months.
- Non-competition and non-solicitation restrictions apply for 12 months (18 months post-change-in-control).
Financial Impact
Base salary of $480,000 per year; severance obligations are standard and immaterial relative to company size.
Risk Factors
- Standard key-person retention risk if Lee were to depart, but no current indication of instability.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000860413-26-000092 |
| Document: fibk-20260914.htm | 0000860413-26-000092 |
| Document: 0000860413-26-000092-index-headers.html | 0000860413-26-000092 |
| Document: 0000860413-26-000092-index.html | 0000860413-26-000092 |
| Document: 0000860413-26-000092.txt | 0000860413-26-000092 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $36.78 $37.68 | ▼ −2.45% | ▼ −1.74% | $37.68 (−2.45%) |
Sep 16, 2026 5w ago | Insider Cluster | $37.16 $37.35 | ▲ +0.51% | ▲ +0.63% | $37.68 (+1.40%) |
Sep 16, 2026 5w ago | 8-K | $36.92 $37.16 | ▲ +0.65% | ▼ −0.48% | $37.68 (+2.06%) |
Aug 21, 2026 9w ago | 8-K | $37.49 $37.24 | ▼ −0.67% | ▼ −0.37% | $37.68 (+0.51%) |
Jul 9, 2026 15w ago | 8-K | $38.85 $38.83 | ▼ −0.05% | ▲ +0.71% | $37.68 (−3.01%) |
May 29, 2026 21w ago | 8-K | $34.73 $35.22 | ▲ +1.41% | ▲ +1.27% | $37.68 (+8.49%) |
May 26, 2026 21w ago | S-3ASR | $35.66 $35.60 | ▼ −0.17% | ▼ −0.72% | $37.68 (+5.66%) |
US Market Status
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