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Get filing alertsCPBI subsidiary enters 3x severance change-in-control agreement with CFO Bradley Kool
Filed July 14, 2026 · Period ending July 8, 2026 · ~1 min read
Key Changes
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Home Federal Savings and Loan entered into a three-year change-in-control agreement with CFO Bradley M. Kool providing lump-sum severance equal to 3x base salary plus highest annual bonus upon qualifying termination during a change-in-control period.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Agreement automatically extends for two years if a change in control occurs during its term, with annual one-year renewals subject to board performance review each October 24.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Central Plains Bancshares' banking subsidiary entered into a change-in-control agreement with CFO Bradley M. Kool that provides standard executive retention protections during potential acquisition scenarios. The agreement pays 3x severance (base salary plus highest recent bonus) if Mr. Kool is terminated without cause or resigns for good reason during a change-in-control period.
This is a routine governance matter designed to keep key officers focused on shareholder interests rather than personal job security during M&A discussions. The 3x multiplier and automatic two-year extension upon change in control are standard structures for senior executive agreements at community banks. The agreement represents a contingent liability that would be triggered only in an acquisition scenario where the CFO's employment is affected.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 8, 2026, Home Federal Savings and Loan Association of Grand Island (the “Bank”), the wholly-owned subsidiary of Central Plains Bancshares, Inc., entered into a change in control agreement with Bradley M. Kool, Executive Vice President and Chief Financial Officer.
The Bank entered into a change-in-control agreement with its CFO Bradley M. Kool. This agreement provides severance protections if Mr. Kool's employment is involuntarily terminated or he resigns for good reason during a change-in-control period. Such agreements are common executive retention tools designed to keep key officers focused on shareholder interests during potential acquisition scenarios.
Added in current filing · verify on EDGAR →
In the event Mr. Kool’s employment involuntary terminates for reasons other than cause, or in the event of Mr. Kool’s resignation for “good reason,” during the term of the agreement, he will receive a severance payment, paid in a single lump sum, equal to three times the sum of (i) his base salary in effect as of the date of termination or immediately before the change in control, whichever is higher, and (ii) highest annual cash bonus earned for the year in which the change in control occurs or any of the three prior calendar years.
Upon qualifying termination, Mr. Kool receives a lump-sum severance equal to three times the sum of his base salary (at termination or pre-change-in-control, whichever is higher) plus his highest annual bonus from the change-in-control year or the prior three years. This 3x multiplier is a standard structure for senior executive change-in-control agreements and represents a material potential liability in an acquisition scenario.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 15, 2026 · How we verify