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Get filing alertsCentral Plains Bancshares appoints activist Stilwell Group nominee to board
Filed July 9, 2026 · Period ending July 8, 2026 · ~1 min read
Key Changes
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high
Board appointed Francis Younes, nominee of activist Stilwell Group, as director and 2026 annual-meeting candidate after May activist notice proposing director and mandatory buyback policy.
Item 8.01 verify on EDGAR → -
medium
Stilwell Group proposed mandatory annual repurchase of at least 10% of shares when trading below book value; board accommodated director nominee but has not disclosed position on buyback proposal.
Item 8.01 verify on EDGAR → -
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Board also appointed Dannel R. Garness as director; Garness is an employee director who will not receive director fees.
Item 5.02 verify on EDGAR →
Summary
Central Plains Bancshares resolved an activist challenge cooperatively by appointing the Stilwell Group's director nominee, Francis Younes, to its board and nominating him for a three-year term at the 2026 annual meeting. The Stilwell Group, which notified the company in May 2026 of its intent to nominate a director and propose a mandatory annual buyback policy when shares trade below book value, now has board representation without a proxy contest. The board interviewed Younes in June and chose to add him rather than oppose the nomination.That proposal will presumably come to a shareholder vote at the 2026 annual meeting.
The board also appointed Dannel R. Garness, an employee director, in a separate routine action.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Central Plains Bancshares appointed two new directors to its board and its bank subsidiary's board.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On July 7, 2026, the Boards of Directors of Central Plains Bancshares, Inc. (the “Company”) and Home Federal Savings and Loan Association of Grand Island (the “Bank”) appointed Dannel R. Garness and Francis Younes to the Boards of Directors of the Company and the Bank.
The company appointed Dannel R. Garness and Francis Younes to serve on both the holding company board and the bank subsidiary board. Neither director will initially serve on any board committees. Garness is an employee director who will not receive director fees, while Younes will receive standard non-employee director compensation.
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 20, 2026, Joseph Stilwell and related funds (the “Stilwell Group”) notified the Company of two actions it intended to take at the Company’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”): (i) nominate an individual to the Board of Directors of the Company; and (ii) present a business proposal recommending to stockholders that the Company shall repurchase no less than 10% of the Company’s outstanding common stock each and every year in which the common stock trades below book value per share. In June 2026, the Company’s President and Chief Executive Officer and members of the Board of Directors interviewed Francis Younes, the Stilwell Group’s proposed nominee for election to the Board of Directors. Following this interview, the Board of Directors determined to appoint Mr. Younes to the Board of Directors and to nominate Mr. Younes to stand for election as a director of the Company at the 2026 Annual Meeting for a term of three years expiring at the Company’s 2029 Annual Meeting of Stockholders.
The Stilwell Group, an activist investor, notified the company in May 2026 of its intent to nominate a director and propose a mandatory annual stock buyback policy when shares trade below book value. Rather than contest the nomination, the board interviewed the Stilwell nominee, Francis Younes, and appointed him to the board in June 2026, nominating him for a three-year term at the 2026 annual meeting. This represents a cooperative resolution to activist pressure, adding a shareholder-aligned voice to the board without a proxy fight.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 10, 2026 · How we verify