This filing is a routine executive compensation update with no trading signal. Monitor next 10-Q for any material change in non-qualified deferred compensation liabilities, but no immediate action is warranted.
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Executive Summary
Steele Bancorp entered into a new supplemental executive retirement agreement (SERP) with Corporate Secretary J. Todd Troxell and amended existing SERPs for CEO Jeffrey J. Kapsar, CFO Thomas C. Graver Jr., and COO Thomas L. Eberhart, increasing their annual retirement benefits. Kapsar's benefit rose from $114,000 to $157,000, Graver's from $71,000 to $117,000, and Eberhart's from $55,000 to $79,000. This is a routine compensation arrangement with no material financial impact on the company's operations or stock.
Key Facts
- New SERP for J. Todd Troxell provides $45,600/year normal retirement benefit for 15 years.
- CEO Jeffrey J. Kapsar's annual SERP benefit increased from $114,000 to $157,000.
- CFO Thomas C. Graver Jr.'s annual SERP benefit increased from $71,000 to $117,000.
- COO Thomas L. Eberhart's annual SERP benefit increased from $55,000 to $79,000.
- All amendments were approved by the Bank's Board on July 16, 2026, and executed on August 28, 2026.
Financial Impact
Aggregate annual retirement benefit increase of approximately $113,000 across three executives (Kapsar +$43k, Graver +$46k, Eberhart +$24k), plus new $45,600/year benefit for Troxell. Total annual obligation increase is approximately $158,600, immaterial relative to a bank's operating expenses.
Risk Factors
- No material risks identified from this routine compensation filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-029132 |
| Document: 0001437749-26-029132-index.html | 0001437749-26-029132 |
| Document: 0001437749-26-029132.txt | 0001437749-26-029132 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 2d ago | 8-K | $47.99 | awaiting T+60 | — | $49.01 (+2.13%) |
Aug 28, 2026 8w ago | 8-K | $46.25 | awaiting T+60 | — | $49.01 (+5.97%) |
May 21, 2026 22w ago | 8-K | $40.11 $46.15 | ▲ +15.06% | ▲ +10.76% | $49.01 (+22.19%) |
May 12, 2026 23w ago | 8-K | $40.00 $46.16 | ▲ +15.40% | ▲ +11.02% | $49.01 (+22.52%) |
May 11, 2026 23w ago | 10-K/A | $39.85 $47.70 | ▲ +19.70% | ▲ +15.31% | $49.01 (+22.99%) |
May 6, 2026 24w ago | 10-Q/A | $40.00 $47.99 | ▲ +19.98% | ▲ +17.91% | $49.01 (+22.52%) |
May 6, 2026 24w ago | 10-Q/A | $40.00 $47.99 | ▲ +19.98% | ▲ +17.91% | $49.01 (+22.52%) |
Apr 20, 2026 26w ago | 8-K | $38.00 $43.05 | ▲ +13.29% | ▲ +6.51% | $49.01 (+28.97%) |
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