Company: NSTS
Filing Date: 2025-06-18
Form Type: 8-K
Source: 0001437749-25-020779
Chunk: 1

Company: NSTS Bancorp, Inc.
Filing Date: 2025-06-18
Form: 8-K
Item: Item 5.02
Chunk 1
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-Employee Director of the Bank to receive a prorated portion of the annual director retainer of $18,000 and a per meeting fee of $1,000. He will also be entitled to receive an additional retainer of $2,000 (paid in quarterly installments) for his service on the Company’s Board of Directors. Mr. Pucin is also entitled to participate in a non-qualified unsecured director deferred compensation plan (under which he may elect to defer up to 100% of the retainer and monthly board fees) and the NSTS Bancorp, Inc. 2023 Equity Incentive Plan.

Mr. Pucin has been appointed to the Audit Committee. The Board of Directors has determined that Mr. Pucin is considered independent under the Nasdaq Stock Market corporate governance listing standards and also qualifies as an independent director under the heightened independence requirements of Rule 10A-3 of the Exchange Act for members of the Audit Committee. As a result of Mr. Pucin’s appointment to the Board, it is expected that the Company will again be compliant with Rule 5605(b)(1) of the Nasdaq listing standards.

A copy of the Company’s press release announcing Mr. Pucin’s appointment is attached hereto as Exhibit 99.1 and is incorporated herein by reference.