Leadership reshuffle at Kentucky First (NASDAQ: KFFB) elevates R. Clay Hulette

Rhea-AI Filing Summary

Kentucky First Federal Bancorp has appointed longtime executive and director R. Clay Hulette as Chief Executive Officer of the company and as President and CEO of its bank subsidiary, First Federal Savings Bank of Kentucky. These roles remain subject to regulatory approval, and until then he will serve as interim President and CEO of the bank.

Hulette, age 63, has deep history with the organization, previously serving as Vice President, Treasurer and Chief Financial Officer of the company from 2005 to 2024 and holding multiple leadership roles at First Federal of Kentucky. He will receive an annual salary of $185,000 for his services.

As part of this leadership transition, Don D. Jennings has been appointed Director of Operations of First Federal of Kentucky and will continue as President of the company and Chairman of the bank’s board. The company chose not to renew Jennings’ long-standing employment agreements with the company and the bank, but his compensation and benefits were not otherwise changed.

Insights

Bank governance and compensation analyst

Kentucky First reassigns senior leaders, elevating veteran insider as CEO.

The company has moved R. Clay Hulette, a long-serving former CFO and bank executive, into the CEO role at the holding company and the President and CEO roles at the bank subsidiary, subject to regulatory approval. This keeps leadership within a familiar circle and may support continuity in strategy and risk management, given his prior roles and recent work as a consultant and part-time risk manager.

Don D. Jennings shifts from CEO duties to Director of Operations at the bank while remaining President of the company and Chairman of the bank’s board. His employment agreements with both entities were terminated or not renewed via notice and a letter agreement, but the disclosure states that his compensation and benefits were otherwise unchanged, indicating a structural change more than an immediate economic shock.

The filing also highlights related-party ties: Hulette’s spouse is Executive Vice President of the bank, with aggregate compensation of about $141,800 since July 1, 2024, and about $122,845 in the prior fiscal year, while his nephew serves as Chief Financial Officer. These relationships make governance and board oversight particularly important, and future disclosures may provide further detail on how responsibilities are balanced among family members in key roles.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): October 2, 2025

KENTUCKY FIRST FEDERAL BANCORP

(Exact Name of Registrant as Specified in Its Charter)

United States		0-51176		61-1484858
(State or other jurisdiction of		(Commission File Number)		(IRS Employer
incorporation or organization)				Identification No.)

655 Main Street, Hazard, Kentucky		41702
(Address of principal executive offices)		(Zip Code)

(502) 223-1638

(Registrant’s telephone number, including area code)

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:

☐ 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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value per share		KFFB		The NASDAQ Stock Market LLC

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

On October 2, 2025, the Boards of Kentucky First Federal Bancorp (the “Company”) and First Federal Savings Bank of Kentucky, an indirect wholly-owned bank subsidiary of the Company (“First Federal of Kentucky”), appointed R. Clay Hulette as Chief Executive Officer of the Company and as President and Chief Executive Officer of First Federal of Kentucky, respectively. Such appointments remain subject to regulatory approval. Pending regulatory approval, Mr. Hulette will serve as interim President and Chief Executive Officer of First Federal of Kentucky. In connection with this transition, Don D. Jennings has been appointed Director of Operations of First Federal of Kentucky and will continue to serve as President of the Company and Chairman of the Board of Directors of First Federal of Kentucky.

Mr. Hulette, age 63, has served as a director of the Company since August 2024 and as a director of First Federal of Kentucky since January 2012. He previously served as Vice President, Treasurer and Chief Financial Officer of the Company from its inception in March 2005 until January 2024. Mr. Hulette also served as President of First Federal of Kentucky from March 2007 until 2013, and as Frankfort Area President of First Federal of Kentucky from 2013 until January 2024. From January 2025 until September 2025, Mr. Hulette continued to serve the Company and First Federal of Kentucky as a director, consultant, and part-time risk manager.

For his services to the Company and First Federal of Kentucky, Mr. Hulette will receive an annual salary of $185,000.

There are no arrangements or understandings with any person pursuant to which Mr. Hulette has been selected to serve as Chief Executive Officer of the Company and as President and Chief Executive Officer of First Federal of Kentucky. Mr. Hulette’s spouse, Teresa Hulette, serves as Executive Vice President of First Federal of Kentucky. Since July 1, 2024, Mrs. Hulette’s aggregate compensation has totaled approximately $141,800, and during the fiscal year ended June 30, 2024, Mrs. Hulette’s aggregate compensation totaled approximately $122,845. Mr. Hulette’s nephew, Tyler Eades, serves as Chief Financial Officer of the Company.

In connection with the foregoing, on October 2, 2025, (i) the Company provided written notice to Mr. Jennings that it would not renew his existing employment agreement, dated as of August 15, 2008, with the Company; and (ii) First Federal of Kentucky and Mr. Jennings entered into a letter agreement pursuant to which the parties agreed to the termination of Mr. Jennings’ employment agreement, dated as of August 15, 2008, with First Federal of Kentucky. No other changes were made to Mr. Jennings’ compensation or benefits in connection with the actions described above.

A copy of the Company’s press release announcing Mr. Hulette’s appointment by the Boards of Directors of the Company and First Federal of Kentucky is included as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

99.1		Press Release dated October 8, 2025.
104		Cover Page Interactive Data File (formatted as Inline XBRL)

1

SIGNATURES

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.

	KENTUCKY FIRST FEDERAL BANCORP
Date: October 8, 2025	By:	/s/ Tyler Eades
		Tyler Eades
		Vice President and Chief Finance Officer

2

FAQ

Who was appointed CEO of Kentucky First Federal Bancorp (KFFB)?

R. Clay Hulette was appointed Chief Executive Officer of Kentucky First Federal Bancorp and President and Chief Executive Officer of First Federal Savings Bank of Kentucky, subject to regulatory approval.

What role will Don D. Jennings now hold at Kentucky First Federal Bancorp?

Don D. Jennings has been appointed Director of Operations of First Federal Savings Bank of Kentucky and will continue to serve as President of Kentucky First Federal Bancorp and Chairman of the bank’s board of directors.

Is R. Clay Hulettes CEO appointment at KFFB already fully effective?

Hulettes appointment as CEO of the company and President and CEO of the bank is subject to regulatory approval. Until that approval, he will serve as interim President and Chief Executive Officer of First Federal of Kentucky.

What is the annual salary for Kentucky Firsts new CEO, R. Clay Hulette?

For his services to Kentucky First Federal Bancorp and First Federal of Kentucky, R. Clay Hulette will receive an annual salary of $185,000.

What happened to Don D. Jennings employment agreements with KFFB and its bank subsidiary?

The company gave Jennings written notice that it would not renew his employment agreement with Kentucky First Federal Bancorp, and he entered into a letter agreement with First Federal of Kentucky terminating his employment agreement with the bank dated August 15, 2008.

Does Kentucky First Federal Bancorp disclose any family relationships involving the new CEO?

Yes. The filing states that R. Clay Hulettes spouse, Teresa Hulette, serves as Executive Vice President of First Federal of Kentucky, with aggregate compensation of about $141,800 since July 1, 2024 and about $122,845 in the fiscal year ended June 30, 2024. His nephew, Tyler Eades, serves as Chief Financial Officer of the company.