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- Departure of CFO (new) — The Chief Financial Officer is departing the company at year-end 2026.
United Community Banks CFO Jefferson Harralson to resign Dec. 31, receives $1M severance
Filed April 28, 2026 · Period ending April 28, 2026 · ~1 min read
Key Changes
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CFO Jefferson L. Harralson will resign effective December 31, 2026, after an eight-month transition period, marking the departure of the company's top financial executive.
Item 5.02 verify on EDGAR → -
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Harralson will receive $1 million cash severance (payable by January 15, 2027) plus his 2026 incentive bonus if he remains through year-end, contingent on signing a release and non-compete terms.
Separation Agreement view on EDGAR → -
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The departing CFO qualifies for early retirement benefits of $70,000 annually as a life annuity under the company's Modified Retirement Plan.
Separation Agreement view on EDGAR → -
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Harralson's existing Change in Control agreement terminates upon separation, though it would supersede the new agreement if a change-in-control event occurs before December 31.
Separation Agreement view on EDGAR → -
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If terminated without cause before year-end, Harralson receives full benefits as if employed through December 31; voluntary resignation or termination for cause yields no severance.
Separation Agreement view on EDGAR →
Summary
United Community Banks announced that CFO Jefferson L. Harralson will resign effective December 31, 2026, following an eight-month transition period. The planned departure of a company's chief financial officer is always material for investors, as the CFO oversees financial reporting, controls, and strategic financial planning.
The structured transition suggests this is an orderly succession rather than an abrupt exit, though the company has not yet disclosed a replacement. Harralson's exit package includes $1 million in cash severance plus his 2026 bonus, totaling well over $1 million in separation costs. He also qualifies for $70,000 annually in retirement benefits.
The severance is contingent on his remaining through year-end and signing non-compete and non-disparagement agreements. His existing change-in-control protections terminate with the separation. Investors should watch for the company's announcement of Harralson's successor and any commentary on the reasons for his departure. The timing—effective at fiscal year-end—may facilitate a clean handoff, but shareholders will want assurance that financial leadership remains strong during the transition and that no underlying issues prompted the change.
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 →
Executive will resign, effective as of December 31, 2026 (the “Employment Termination Date”), as Executive Vice President and Chief Financial Officer of the Company.
Jefferson L. Harralson, the company's Executive Vice President and Chief Financial Officer, has entered into a separation agreement under which he will resign effective December 31, 2026. This is a planned departure with an eight-month transition period from the agreement date.
Added in current filing · verify on EDGAR →
If the Executive’s employment continues through the Employment Termination Date, he also will receive his 2026 incentive bonus, when determined, and a cash severance of $1 million (the “Severance”), payable no later than January 15, 2027.
The departing CFO will receive a $1 million cash severance payment (due by January 15, 2027) plus his 2026 incentive bonus if he remains employed through December 31, 2026. The severance is subject to execution of a release of claims and compliance with non-disparagement, non-solicitation, and confidentiality provisions.
Added in current filing · verify on EDGAR →
The Retention Agreement shall terminate on the Separation Date and neither the Company nor the Executive shall have any further rights or obligations thereunder.
The CFO's existing Change in Control Continuity Agreement from February 2023 will terminate on his separation date, with rights and obligations governed by the new Harralson Agreement instead. However, if a change-in-control event occurs before separation making him eligible for benefits under the retention agreement, that agreement would supersede the new separation agreement.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
as of the Employment Termination Date, the Executive will satisfy the early retirement eligibility criteria under the Company’s Modified Retirement Plan pursuant to his participation agreement. Accordingly, the Executive will be entitled to receive his minimum early retirement benefit of $70,000 annually, payable as a life annuity
Upon his December 31, 2026 departure, Harralson will qualify for early retirement under the company's Modified Retirement Plan and receive a minimum annual benefit of $70,000 as a life annuity. This is in addition to the cash severance and represents ongoing retirement compensation.
Added in current filing · verify on EDGAR →
If the Executive’s employment is terminated prior to the Employment Expiration Date by the Company without cause, the Executive shall receive all of the benefits under the Harralson Agreement as if he continued to be employed through the Employment Termination Date.
If the company terminates Harralson without cause before December 31, 2026, he receives full benefits as if employed through year-end. Voluntary resignation or termination for cause results in no severance, while disability triggers prorated severance reduced by $125,000 per remaining month.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 15, 2026 · How we verify