Catalyst Bancorp sets 3-year COO, CFO contracts

Rhea-AI Filing Summary

Catalyst Bancorp, Inc., through its wholly owned subsidiary Catalyst Bank, entered into three-year employment agreements with Chief Operations Officer Amanda Quebedeaux and Chief Financial Officer Jacques Bourque, effective September 13, 2026 and expiring September 12, 2029, unless renewed or extended by the board.

Quebedeaux’s agreement provides a base salary of $162,500, and Bourque’s agreement provides a base salary of $117,500, each subject to potential increases at the Catalyst Bank board’s discretion. If either executive is involuntarily terminated, or resigns for defined “good reason,” they are entitled to a lump-sum severance equal to 12 months of base salary and up to 12 months of continued health insurance, subject to a release of claims. Upon certain terminations in connection with a change in control, they are entitled to a similar 12‑month salary severance based on the higher of salary at change in control or termination, plus up to 12 months of health coverage. If employment ends due to death, the executive’s estate or beneficiary receives 12 weeks of base salary and continued family health coverage for the same period.

Filing Explained

The agreements allow Catalyst Bank to terminate either executive with or without cause; a for-cause termination ends entitlement to compensation and other agreement benefits after termination, except for benefits already vested and earned.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Agreement term start date: September 13, 2026 Agreement term end date: September 12, 2029 Base salary – Chief Operations Officer: $162,500 +5 more

8 metrics

Agreement term start date September 13, 2026 Commencement of the three-year employment agreements

Agreement term end date September 12, 2029 Scheduled expiration of the employment agreements

Base salary – Chief Operations Officer $162,500 Annual base salary for Amanda Quebedeaux under the agreement

Base salary – Chief Financial Officer $117,500 Annual base salary for Jacques Bourque under the agreement

Severance multiple – involuntary termination 12 months of base salary Cash severance upon involuntary termination or resignation for good reason

Health coverage duration – severance Up to 12 months Continued health insurance after qualifying termination or change in control

Death benefit salary continuation 12 weeks of base salary Salary paid to estate or beneficiary upon death

Death benefit health coverage 12 weeks Family health coverage following death of the executive

Key Terms

involuntary termination, good reason, change in control, Inline XBRL

4 terms

involuntary termination financial

"in the event of an involuntary termination of employment"

good reason financial

"or for “good reason”, including a change in the Executive’s position"

change in control financial

"on the effective date of a change in control, as defined in the agreement"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

Inline XBRL technical

"Cover Page Interactive Data File. Embedded within the Inline XBRL document"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive agreements did CLST’s subsidiary Catalyst Bank enter into on September 13, 2026?

Catalyst Bank entered into three-year employment agreements with Chief Operations Officer Amanda Quebedeaux and Chief Financial Officer Jacques Bourque, effective September 13, 2026 and expiring September 12, 2029, with potential extensions subject to review by the board of directors.

What are the base salaries under the new Catalyst Bancorp (CLST) executive agreements?

Under the agreements, Amanda Quebedeaux receives a base salary of $162,500 and Jacques Bourque receives $117,500. Both amounts may be increased at the discretion of the board of directors of Catalyst Bank.

What severance is provided to the CLST executives upon involuntary termination?

If involuntarily terminated, or if they resign for defined “good reason,” each executive is entitled to a lump-sum cash severance equal to 12 months of base salary plus continued health insurance coverage for up to 12 months, contingent on signing a release of claims.

How do the Catalyst Bancorp (CLST) agreements treat terminations in connection with a change in control?

If employment ends without cause or for good reason on or within 30 days after a change in control, each executive receives a lump-sum severance equal to 12 months of the greater of base salary at the change in control or termination date, plus up to 12 months of continued health coverage.

What benefits do the CLST executives’ families receive if an executive dies during the term?

If employment ends due to death, the executive’s estate or beneficiary receives 12 weeks of base salary, and the executive’s family receives continued health coverage for 12 weeks, as provided in the employment agreements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

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Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported)	September 13, 2026

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Catalyst Bancorp, Inc.

(Exact name of registrant as specified in its charter)

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Louisiana	001-40893	86-2411762
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
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235 N. Court Street, Opelousas, Louisiana	70570
(Address of principal executive offices)	(Zip Code)

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Registrant’s telephone number, including area code	(337) 948-3033

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Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

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☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ​

Securities registered pursuant to Section 12(b) of the Act:

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Title of each Class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	CLST	Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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ITEM 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers

(e) Compensatory Arrangement of Certain Officers

On September 13, 2026, Catalyst Bank (the “Bank”), the wholly owned subsidiary of Catalyst Bancorp, Inc. (the “Company”), entered into employment agreements (the “Employment Agreements”) with Amanda Quebedeaux, Chief Operations Officer, and Jacques Bourque, Chief Financial Officer (the “Executives”). The term of the Employment Agreements commences on September 13, 2026, and will expire on September 12, 2029, unless renewed or extended. Any such renewal or extension of the Employment Agreements will be reflected in an amendment or supplement to such agreement.

Prior to the expiration of the term of the Employment Agreements, the Board of Directors will review the agreements to determine whether to extend the term of the Employment Agreements for three additional years or such other time period mutually agreed upon.

Pursuant to Mrs. Quebedeaux’s employment agreement, Mrs. Quebedeaux agrees to continue her service as Chief Operations Officer of the Bank for a term of three years ending September 12, 2029. Mrs. Quebedeaux’s agreement provides for a base salary of $162,500, which may be increased at the discretion of the Board of Directors of Catalyst Bank.

Pursuant to Mr. Bourque’s employment agreement, Mr. Bourque agrees to continue his service as Chief Financial Officer of the Bank for a term of three years ending September 12, 2029. Mr. Bourque’s agreement provides for a base salary of $117,500, which may be increased at the discretion of the Board of Directors of Catalyst Bank.

The Employment Agreements are terminable with or without cause by Catalyst Bank. The Executives have no right to compensation or other benefits pursuant to their respective employment agreements for any period after termination for cause, except for benefits that have vested and been earned prior to termination. The Employment Agreements provide that in the event of an involuntary termination of employment (including a voluntary termination by the Executive as a result of a material breach of the agreement by Catalyst Bank or for “good reason”, including a change in the Executive’s position, salary or duties without his or her consent), the Executive would be entitled to (1) a lump sum cash severance payment which is equal to twelve months of the Executive’s base salary as of the date of termination, subject to the Executive executing a release of any claims against Catalyst Bank or its affiliates and (2) continued health insurance coverage until the earlier of twelve months or the date the Executive receives substantially similar benefits from another employer.

The Employment Agreements provide that if the Executive’s employment terminates without cause or with good reason on the effective date of a change in control, as defined in the agreement, or within 30 calendar days after a change in control, then the Executive would be entitled to (1) a lump sum cash severance payment equal to 12 months of the greater of the Executive’s base salary at the time of the change in control or the date of his or her termination and (2) continued health insurance coverage until the earlier of 12 months or the date the Executive receives substantially similar benefits from another employer. If the Employment Agreements terminate as a result of the Executive’s death, the Executive’s estate or beneficiary will be paid the Executive’s base salary for twelve weeks and continued health coverage for his or her family over the same period.

The foregoing description is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which is attached hereto as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference

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ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are included herein:

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Exhibit Number	​	Description
10.1	​	Employment Agreement, by and among Catalyst Bank and Amanda Quebedeaux
10.2	​	Employment Agreement, by and among Catalyst Bank and Jacques Bourque
104	​	Cover Page Interactive Data File. Embedded within the Inline XBRL document.

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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.

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​	​	​	CATALYST BANCORP, INC.
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Date:	September 15, 2026	​	By:	/s/ Joseph B. Zanco
​	​	​	​	Joseph B. Zanco
​	​	​	​	President and Chief Executive Officer

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Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EX-10.1 125.2 KB
• EX-10.2 EX-10.2 94.1 KB

Other Documents

• EX-101 EX-101.SCH 2.6 KB
• EX-101 EX-101.LAB 15.5 KB
• EX-101 EX-101.PRE 10.1 KB