Prosperity appointed Robert R. Franklin Jr. as Vice Chairman of Prosperity and Prosperity Bank and added Joseph B. Swinbank to its board, effective as of the merger Effective Time.
| IndividualRobert R. Franklin, Jr.Joseph B. Swinbank | RoleVice Chairman of Prosperity and Prosperity Bank; Class I directorClass III director | Type of ChangeAppointedAppointed | Effective DateEffective Time (per Merger Agreement)Effective Time (per Merger Agreement) | ReasonAppointment pursuant to Merger AgreementAppointment pursuant to Merger Agreement | Replacement InfoNot disclosedNot disclosed | Background DetailsAge 71; former Executive Chairman and CEO of Stellar Bank (2022–Effective Time); former Chairman, President & CEO of CBTX, Inc. (2013–2022); B.B.A., Univ. of Texas at Austin, 1977. Three-year employment term; annual base salary $1,120,187; bonus target 175% of base; 25,000 restricted shares (vesting after 3 years); $3,000,000 signing bonus; severance and vesting provisions described.Background details not provided in Item 5.02 | Board/Committee Role ChangesAppointed as Class I director (term expiring at next annual meeting)Appointed as Class III director (term expiring at next annual meeting) |
Original SEC Filing:
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