First Interstate BancSystem, Inc. announced that Marcy D. Mutch will retire as Executive Vice President and Chief Financial Officer effective May 31, 2025. She will transition to an Executive Advisor role until December 31, 2025, and subsequently serve as a non-employee consultant through December 31, 2026. David P. Della Camera, the current Deputy Chief Financial Officer, will succeed her as CFO on June 1, 2025.

During the transition period, Mutch will continue to receive her current salary and remain eligible for incentive awards and benefits. As an Executive Advisor, she will assist with the CFO transition and investor relations while receiving a prorated incentive award. In her consulting role, she will be compensated with time-based restricted stock units valued at $860,000.

Della Camera, age 31, has held various leadership roles at First Interstate, including Director of Corporate Development and Financial Strategy. His new employment agreement will include a $500,000 annual base salary, a short-term incentive target of 70% of salary, and a long-term incentive target also set at 70%.

source: First Interstate BancSystem, Inc., SEC Form 8-K, February 25, 2025.