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AI brief of an SEC Form 8-K · Flagstar Bank (FLG)

Flagstar names Lee Smith CFO effective Dec. 27, succeeding Craig Gifford

Neutral Impact 4 of 5 leadership Written later

Flagstar Financial said Lee Smith, a company veteran since 2013, will become Senior Executive Vice President and Chief Financial Officer on December 27, 2024, replacing Craig Gifford, who is resigning from the role. The company also added Brian Callanan, general counsel at Liberty Strategic Capital, to its board effective December 16, 2024, a seat tied to the company's March 2024 equity investment from Liberty affiliates.

Key points

  • Lee Smith becomes Senior Executive Vice President and CFO effective December 27, 2024; Craig Gifford will stay with the company and bank through March 31, 2025
  • Brian Callanan joins the board effective December 16, 2024, with a term ending at the 2025 annual meeting and no committee assignment
  • Callanan's board seat is tied to the $1.05 billion equity investment made in March 2024 by Liberty Strategic Capital affiliates
  • Non-employee director pay for Callanan includes a $75,000 annual cash retainer and a $115,000 annual equity award

The filing

CompanyFlagstar Bank (FLG)
Form8-K, current report
Filed with the SECDec 13, 2024, 5:44 PM ET
Accession number0001193125-24-278733

Items reported: 5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 13, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.