QCR Holdings Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
John H. Anderson Consulting Services Agreement
QCR Holdings, Inc. (the “Company”) previously announced on May 20, 2024, that John H. Anderson would retire from his roles as Chief Deposit Officer for the Company and as Chief Executive Officer for the Company’s wholly-owned bank subsidiary, Quad City Bank and Trust Company (“QCBT”), effective January 3, 2025 (the “Retirement”). In connection with the Retirement, on May 20, 2024, the Company, QCBT, and Mr. Anderson entered into an Addendum to Mr. Anderson’s Employment Agreement with QCBT and the Company dated January 9, 2019 (together, the “Employment Agreement”).
On January 3, 2025, QCBT and Mr. Anderson further entered into a Consulting Services Agreement (the “Agreement”), pursuant to which Mr. Anderson will provide certain consulting services to QCBT until December 31, 2025. Services to be provided under the Agreement include advice and consultation on business development, employee coaching and mentoring and other similar matters as necessary to aid in the transition required by the Retirement. Pursuant to the terms of the Agreement, in addition to and separately from any benefits Mr. Anderson is entitled to under the Employment Agreement, he will receive a monthly consulting retainer throughout the duration of the Agreement, as well as reimbursement for certain expenses.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 10.1 | Consulting Services Agreement, dated January 3, 2025, between Quad City Bank and Trust Company and John H. Anderson. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SignatureS
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: January 8, 2025 | QCR HOLDINGS, Inc. | |
| By: | /s/ Todd A. Gipple | |
| Name: | Todd A. Gipple | |
| Title: | President and Chief Financial Officer | |