UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 16, 2024
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Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 16, 2024, the Board of Directors (the “Board”) of FinWise Bancorp (the “Company”) expanded the size of the Board to nine directors and appointed Susan Ehrlich as a Class III Director to fill the newly created directorship, with Ms. Ehrlich’s term expiring at the Company’s 2026 Annual Meeting of Shareholders. The Board also expanded the size of the Audit Committee of the Board (the “Audit Committee”) to four directors and appointed Ms. Ehrlich as a member of the Audit Committee.
Ms. Ehrlich, age 57, has been a partner of Core Innovation Capital, an early-stage fintech venture capital firm, since 2022. In addition, she serves on the board of directors of Arrived Homes, a real estate proptech company. From 2018 to 2021, Ms. Ehrlich served as the chief executive officer of Earnest, a student loan refinance and student lending fintech company. She has also held leadership roles at Simple, Lending Club, Amazon and H&R Block. Ms. Ehrlich holds an MBA from Harvard Graduate School of Business Administration and a BA from Brown University.
The Board has determined that Ms. Ehrlich is independent (as that term is defined under applicable Nasdaq rules). There were no arrangements or understandings between Ms. Ehrlich and any other person pursuant to which Ms. Ehrlich became a director. She will receive the standard compensation provided by the Company to its other non-management directors for services as a director. Ms. Ehrlich has not been a party to any transaction with the Company that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, FinWise Bancorp has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DATE: July 22, 2024 | FINWISE BANCORP | ||||
| /s/ Michael O'Brien | |||||
| Name: Michael O'Brien | |||||
| Title: Corporate Secretary and Executive Vice President | |||||