FIRST FINANCIAL CORP /IN/ — Form 8-K
Filed September 17, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Paul D. Nungester, currently Senior Vice President and Director of Finance, signed a two-year employment agreement effective Sept. 1, 2026, at $375,000 base salary plus target annual bonus of ≥35% of base and long-term equity grants of ≥45% of base. He will succeed retiring CFO Rodger A. McHargue (who served since 2010) effective Jan. 1, 2027. The agreement includes change-of-control severance of 2.0× (base + target bonus + benefits) and restrictive covenants (1-year noncompete within 75-mile Terre Haute radius, 1-year nonsolicitation).
Why this rating
Routine executive succession; $375K salary is <0.1% of $584M market cap; internal promotion minimizes disruption risk.
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