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EFSC > SEC Filings for EFSC > Form 8-K on 13-Sep-2013All Recent SEC Filings

Show all filings for ENTERPRISE FINANCIAL SERVICES CORP

Form 8-K for ENTERPRISE FINANCIAL SERVICES CORP


13-Sep-2013

Change in Directors or Principal Officers


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

On September 12, 2013, Enterprise Financial Services Corp, a Delaware corporation (the "Company"), announced certain organization changes. Keene S. Turner is being appointed as Executive Vice President and Chief Financial Officer of the Company. Mr. Turner is expected to commence his employment with the Company in mid-October 2013. Frank H. Sanfilippo, Executive Vice President and Chief Financial Officer of the Company, will continue to exercise his duties as Chief Financial Officer until such time. Mr. Turner, 33, is currently serving as Executive Vice President and Chief Accounting Officer of National Penn Bancshares, Inc., a registered bank holding company, a position he has held since February 2010. Prior to joining National Penn Bancshares, Inc., he was a Vice President at Griffin Financial Group LLC, an investment banking firm, from February 2009 through January 2010, and worked in Assurance & Advisory Business Services for Ernst & Young, LLP from 2001 through February 2009. The Company also announced that Frank H. Sanfilippo was named Executive Vice President and Chief Operating Officer of the Company and the Company's Enterprise Bank & Trust subsidiary ("Enterprise"). The Company further announced that Richard C. Leuck, Executive Vice President and Chief Operating Officer of Enterprise, was named President of Consumer Banking and Branch Distribution of Enterprise.
In his role as Executive Vice President and Chief Financial Officer, Mr. Turner will be entitled to receive a signing bonus of $25,000; an annual base salary of $260,000; an award in the amount of $70,000 under the Company's 2013 short term incentive program; an award in the amount of $100,000 (at target) under the Company's 2014 short term incentive program, which shall be subject to certain financial and operating goals being met; and an award in the amount of $100,000 (at target) under the Company's 2014 long term incentive compensation plan, which shall be subject to certain financial and operating goals being met. Mr. Turner will also be entitled to receive 9,300 restricted stock units upon joining the Company, which will be subject to pro rata vesting over three years.


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