UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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(d) On October 21, 2019, the board of directors (the “Board”) of ServisFirst Bancshares, Inc. (the “Company”) voted to increase the size of the Board, effective immediately, from six directors to seven directors, and appointed Chris Mettler to the Board to fill the resulting vacancy. Mr. Mettler’s initial term as a director will expire at the Company’s 2020 annual meeting of stockholders. [Committee assignment(s) for Mr. Mettler had not been determined as of the date of filing of this Current Report on Form 8-K.] Mr. Mettler previously served on the Charleston, South Carolina advisory board of the Company’s wholly-owned subsidiary, ServisFirst Bank.
Mr. Mettler is Founder and President of Sovereign Co., where he leads strategy and business development. Mr. Metter assumed a full-time role at Sovereign as of April 26, 2019. Sovereign leverages proprietary marketing attribution and artificial intelligence technology to systematically measure thousands of simultaneous marketing messages to display the most relevant products for consumers. Previously, Mr. Mettler founded two marketing and financial technology businesses, CompareCards and SnapCap, both of which were acquired in two separate transactions by LendingTree (Nasdaq: TREE). Mr. Mettler served as President of Iron Horse Holdings LLC from January 1, 2014 until November 16, 2016. Following LendingTree’s acquisition of CompareCards from Iron Horse Holdings in November 2016, Mr. Mettler transitioned to serve as a salaried employee of LendingTree through April 26, 2019.
Prior to his work in marketing technology, Mr. Mettler held a senior business unit management position at Illinois Tool Works (NYSE: ITW), a Fortune 200 manufacturing company.
Mr. Mettler is also a minority owner of the Miami Marlins professional baseball club and serves on the board of directors of Charleston Day School. He is a graduate of Vanderbilt University and holds an MBA in Business Strategy from Northwestern University’s Kellogg School of Management.
Mr. Mettler will be entitled to the standard compensation provided to non-employee directors, as disclosed in the Company’s definitive proxy statement on Schedule 14A, filed by the Company with the Securities and Exchange Commission on March 5, 2019. As part of such compensation, Mr. Mettler will receive an initial grant of 25,000 stock options.
There are no arrangements or understandings between Mr. Mettler and any other person pursuant to which Mr. Mettler was elected to serve as a director. Mr. Mettler also is not a party to any transactions, other than banking transactions with the Company’s subsidiary bank in the ordinary course of business, requiring disclosure pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.
Exhibit 99.1. Press release dated October 21, 2019
104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document)
SIGNATURE
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.
| ServisFirst Bancshares, Inc. | ||
| Date: October 21, 2019 | By: | /s/ Thomas A. Broughton, III |
| Thomas A. Broughton, III | ||
| Chairman, President and Chief Executive Officer | ||