Central Plains Bancshares, Inc. 8-K

What Happened Central Plains Bancshares, Inc. and its bank subsidiary appointed Dannel R. Garness and Francis Younes to their Boards of Directors on July 7, 2026. The appointments follow notice from Joseph Stilwell and related funds (the “Stilwell Group”) on May 20, 2026 that it would nominate a director and propose an annual repurchase policy. The Board interviewed Mr. Younes in June 2026, appointed him to the Board, and will nominate him for election at the Company’s 2026 Annual Meeting for a three‑year term expiring in 2029.

Key Details

• Appointments effective July 7, 2026: Dannel R. Garness and Francis Younes added to both the company and bank boards.
• Activist notice (May 20, 2026): Stilwell Group said it would (i) nominate a director and (ii) propose the Company repurchase at least 10% of outstanding common stock each year the stock trades below book value per share.
• Nomination and term: Board nominated Younes to stand for election at the 2026 Annual Meeting for a term through the 2029 Annual Meeting.
• Compensation notes: Garness’s compensation is described in the Company’s 2025 proxy and he is not expected to receive director fees as an employee director; Younes will receive the standard non‑employee director compensation described in the 2025 proxy. Neither individual has transactions requiring Item 404 disclosure.

Why It Matters Board changes and an activist investor proposal can affect corporate strategy, capital allocation, and shareholder returns. The Stilwell Group’s push for recurring buybacks (10% annually when shares trade below book value) signals a shareholder focus on returning capital and could influence future repurchase policy if adopted. Investors should note the Board has already added the activist’s nominee and will put his election before shareholders at the 2026 Annual Meeting.