Catalyst Bancorp, Inc. Form 8-K Summary
Business Context and Reporting Period
Catalyst Bancorp, Inc. (CLST), a Louisiana-based bank holding company, filed this Current Report on Form 8-K on September 13, 2026. The filing discloses the execution of new employment agreements with two principal officers of its wholly owned subsidiary, Catalyst Bank.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation arrangements.
Material Changes
The material change reported is the formalization of employment terms for the following executives, effective September 13, 2026:
- Amanda Quebedeaux (Chief Operations Officer): Base salary set at $162,500.
- Jacques Bourque (Chief Financial Officer): Base salary set at $117,500.
Both agreements have a three-year term expiring on September 12, 2029, subject to Board review for potential extension.
Guidance, Outlook, and Compensation Terms
The filing details specific severance and termination provisions rather than financial guidance:
- Termination for Cause: No severance compensation is provided, except for vested benefits earned prior to termination.
- Involuntary Termination (No Cause/Good Reason): Executives are entitled to a lump-sum cash severance equal to 12 months of base salary and continued health insurance for up to 12 months.
- Change in Control: If termination occurs on or within 30 days of a change in control, severance is 12 months of the greater of the base salary at the time of the change in control or the date of termination, plus health coverage.
- Death: The estate or beneficiary receives 12 weeks of base salary and continued health coverage for the same period.
Investor Verification Checklist
- Verify the full text of the attached Employment Agreements (Exhibits 10.1 and 10.2) for additional clauses not summarized in the 8-K.
- Confirm the Board's discretion to increase base salaries beyond the stated amounts.
- Review the specific definition of "Change in Control" within the agreements to understand trigger events for enhanced severance.
- Check subsequent filings for any amendments or extensions to the three-year term.