Monitor for any follow-on filings regarding executive team restructuring or cost-saving initiatives that may have prompted the role elimination. The departure is not a red flag, but could signal internal reorganization.
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Executive Summary
Horizon Bancorp, Inc. announced the elimination of the Chief Administration Officer position, resulting in the departure of Mark E. Secor effective March 31, 2026. Secor's exit is described as amicable, with no disagreements over financial or accounting matters, and he will receive severance and a pro-rated bonus.
Key Facts
- Mark E. Secor, Executive Vice President and Chief Administration Officer, is departing effective March 31, 2026.
- The position of Chief Administration Officer is being eliminated.
- Departure is not due to any disagreement with the company on financial or accounting matters.
- Secor will receive severance equal to one week of pay per year of service (capped at 13 weeks) and a pro-rated 2026 bonus at target.
- A general release of claims and confidentiality agreement is expected to be signed.
Financial Impact
Severance capped at 13 weeks of pay; exact dollar amount not disclosed. Pro-rated bonus under 2026 Executive Officer Bonus Plan to be paid.
Risk Factors
- Potential disruption in administrative functions during transition.
- Future departures if additional roles are eliminated as part of broader restructuring.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000706129-26-000016 |
| Document: 0000706129-26-000016-index-headers.html | 0000706129-26-000016 |
| Document: 0000706129-26-000016-index.html | 0000706129-26-000016 |
| Document: 0000706129-26-000016.txt | 0000706129-26-000016 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | SC 13G/A | $20.92 | awaiting T+1 | — | $20.85 (−0.33%) |
Oct 21, 2026 6d ago | 8-K | $19.99 $20.37 | ▲ +1.90% | ▲ +2.42% | $20.85 (+4.30%) |
Oct 21, 2026 6d ago | Press Release | $19.99 $20.37 | ▲ +1.90% | ▲ +2.42% | $20.85 (+4.30%) |
Oct 2, 2026 25d ago | Press Release | $19.48 $19.24 | ▼ −1.23% | ▼ −1.91% | $20.85 (+7.03%) |
Sep 16, 2026 5w ago | 8-K | $19.52 $19.48 | ▼ −0.20% | ▼ −0.09% | $20.85 (+6.81%) |
Jul 22, 2026 13w ago | Press Release | $20.05 $20.06 | ▲ +0.05% | ▼ −0.05% | $20.85 (+3.99%) |
Jun 30, 2026 17w ago | 8-K | $20.48 $19.78 | ▲ +3.42% | ▲ +3.29% | $20.85 (−1.81%) |
Apr 22, 2026 26w ago | 8-K | $17.80 $17.83 | ▼ −0.17% | ▲ +0.62% | $20.85 (−17.13%) |
Apr 22, 2026 26w ago | Press Release | $17.80 $17.83 | ▼ −0.17% | ▲ +0.62% | $20.85 (−17.13%) |
Apr 1, 2026 29w ago | 8-K | $16.76 $16.88 | ▲ +0.72% | ▲ +0.24% | $20.85 (+24.40%) |
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