Blog: HBT FINANCIAL, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 23, 2022, HBT Financial, Inc. (the “Company”) announced that Patrick
F. Busch, Executive Vice President and Chief Lending Officer, will transition
from the positions of Executive Vice President and Chief Lending Officer of the
Company and President and Chief Lending Officer of Heartland Bank and Trust
Company (the “Bank”), effective December 31, 2022. The Company further
announced that J. Lance Carter will be appointed President of the Bank, and
Lawrence J. Horvath will be appointed Executive Vice President and Chief Lending
Officer of the Company and the Bank, all effective January 1, 2023.

Mr. Carter, age 51, currently serves as the President and Chief Operating
Officer of the Company and Executive Vice President and Chief Operating Officer
of the Bank. Following his appointment as President of the Bank, Mr. Carter will
continue to serve as President and Chief Operating Officer of the Company and as
Chief Operating Officer of the Bank.

Mr. Carter is not related to any other director or executive officer of the
Company or the Bank by blood, marriage, or adoption, and there are no
arrangements or understandings between Mr. Carter and any other person pursuant
to which he was selected as President of the Bank, nor is the Company aware,
after inquiry of Mr. Carter, of any related-party transaction or series of
transactions required to be disclosed under Item 404(a) of Regulation S-K
promulgated under the Securities Exchange Act of 1934, as amended.

Mr. Horvath, age 59, currently serves as the Executive Vice President and
Regional Senior Lending Manager for the Bank.

Mr. Horvath is not related to any other director or executive officer of the
Company or the Bank by blood, marriage, or adoption, and there are no
arrangements or understandings between Mr. Horvath and any other person pursuant
to which he was selected as Executive Vice President and Chief Lending Officer
of the Company and the Bank, nor is the Company aware, after inquiry of Mr.
Horvath, of any related-party transaction or series of transactions required to
be disclosed under Item 404(a) of Regulation S-K promulgated under the
Securities Exchange Act of 1934, as amended.

Mr. Busch has served as the Executive Vice President of the Company since 2009
and Chief Lending Officer of the Company since December 2018. Mr. Busch was
appointed as the President and Chief Lending Officer of the Bank in March 2010.
Mr. Busch will continue to serve in these positions until December 31, 2022.
Beginning January 1, 2023, Mr. Busch will remain employed with the Bank as Vice
Chairman. Mr. Busch will also remain a member of both the Company and the Bank
boards of directors. On November 18, 2022, the Company, the Bank and Mr. Busch
entered into an amendment to his employment agreement, providing that such
employment agreement will terminate as of December 31, 2022, and be without
further effect, except that Mr. Busch will continue to be eligible to receive an
annual incentive bonus and an annual LTI award with respect to 2022 performance,
and will continue to be subject to the restrictive covenants described in the
employment agreement while employed with the Bank. Beginning January 1, 2023,
Mr. Busch will receive an annual base salary of $280,000. Mr. Busch will be
eligible to receive bonuses, LTI awards or other incentive compensation as may
be determined by the board of directors.

The foregoing description of the amendment of Mr. Busch’s existing employment
agreement 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.

Item 7.01. Regulation FD Disclosure.

On November 23, 2022, the Company issued a press release announcing the
executive officer transition plan for Mr. Busch and Mr. Horvath. A copy of the
press release is filed as Exhibit 99.1 hereto and incorporated by reference
herein.

The information contained in Item 7.01, including Exhibit 99.1 furnished
herewith, shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise
subject to the liabilities under that section, nor shall it be deemed
incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933, as amended, or into any filing or other
document pursuant to the Exchange Act, except to the extent required by
applicable law or regulation.

Item 9.01. Financial Statements and Exhibits.

Exhibit Number Description of Exhibit

10.1             Amendment to Amended and Restated Employment Agreement, dated
               November 18, 2022, by and among HBT Financial, Inc., Heartland
               Bank and Trust Company and Patrick F. Busch.

99.1             Press Release issued November 23, 2022.

104            Cover Page Interactive Data File (embedded within the Inline XBRL
               document).

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