Doug Pitt joins Great Southern Bank board

Springfield businessman and philanthropist Doug Pitt joined the Great Southern Bancorp Inc. (Nasdaq: GSBC) Board of Directors, a position that comes with incentives.

Pitt, co-owner of TSI Technology Solutions LLC, is entitled to Great Southern’s standard compensation for nonemployee directors. Directors are paid $3,000 per month - or $36,000 per year - and granted stock options, according to the company’s April 4 proxy statement filed with the U.S. Securities and Exchange Commission.

As a director, Pitt gains a 10-year option to purchase 5,000 shares of company stock at a price of $36.19 per share. The option pays out in 25 percent increments for four years starting Jan. 21, 2017, according to an SEC filing announcing Pitt’s selection.

Pitt, who also co-founded Springfield nonprofit Care to Learn, joins Great Southern directors William Turner, Joe Turner, Will Barclay, Julie Brown, Tom Carlson, Larry Frazier, Grant Hazen and Earl Steinert.

Pitt also was named a member of the bank’s audit, compensation and nominating committees, according to the filing. Members of the audit committee are paid $350 per meeting attended.

GSBC shares were trading at $37.49 as of 11:02 a.m., compared to a 52-week range of $26.95 to $40.28.