Business Context and Reporting Period
Company: Central Plains Bancshares, Inc. (CPBI)
Filing Type: Form 8-K (Current Report)
Date of Report: July 8, 2026
Reporting Period: Event date July 8, 2026
Context: The filing discloses the execution of a Change in Control Agreement with Bradley M. Kool, Executive Vice President and Chief Financial Officer of the company's wholly-owned subsidiary, Home Federal Savings and Loan Association of Grand Island.
Key Financial Metrics
This filing does not contain financial performance data. The document focuses exclusively on executive compensation arrangements. Consequently, there are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this text.
Material Changes
The material change reported is the formalization of a Change in Control Agreement with the Chief Financial Officer, effective July 8, 2026. This agreement establishes specific severance terms and renewal conditions tied to a change in control or involuntary termination.
Guidance, Outlook, and Management Commentary
Agreement Terms:
- Term: Initial three-year term with annual review requirements by disinterested board members prior to October 24.
- Change in Control: Automatically renews for two years from the effective date of a change in control.
- Severance: In the event of involuntary termination (other than for cause) or resignation for "good reason," the executive receives a lump sum equal to three times the sum of:
- Base salary (higher of date of termination or pre-change in control).
- Highest annual cash bonus earned in the year of the change in control or the three prior calendar years.
- Benefits: Reimbursement of COBRA premiums for up to 18 months if elected.
- Definition of "Good Reason": Includes material reduction in salary, authority, or duties; relocation increasing commute by 35+ miles; or material breach of the agreement by the Bank.
Risks and Contingencies: The filing does not explicitly list new risks, though the agreement creates a contingent liability for severance payments upon specific triggering events.
Investor Verification Checklist
- Verify the current base salary and recent bonus history of Bradley M. Kool to estimate potential severance liability.
- Confirm the date of the next required board performance evaluation (October 24, 2026).
- Review the full text of Exhibit 10.1 (Change in Control Agreement) for additional covenants or definitions not summarized here.
- Assess the impact of this agreement on the company's executive compensation structure relative to peer institutions.