Business Context and Reporting Period
This Form 8-K Current Report was filed by FIVE STAR BANCORP on March 16, 2023. The registrant is incorporated in California and its common stock trades on The Nasdaq Stock Market LLC under the symbol FSBC. The company is classified as an emerging growth company.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The primary material change reported is the departure of a director:
- David J. Lucchetti notified the Company of his intention to retire from the Board of Directors.
- His term will expire at the upcoming 2023 Annual Meeting of Shareholders, at which time he will not stand for re-election.
- The departure is due to retirement and is not the result of any disagreement with the Company.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on financial performance, or discussion of risks and contingencies. The only commentary provided is the Board's expression of gratitude for Mr. Lucchetti's dedication and contributions during his tenure.
Key Facts for Investors to Verify
- Confirmation of the date and agenda for the 2023 Annual Meeting of Shareholders where Mr. Lucchetti's term expires.
- Whether the Board has initiated a search for a replacement director to fill the vacancy.
- Any potential impact of this board change on the company's strategic direction or governance structure.