BV Financial Reports Director Changes & Compensation Updates
Ticker: BVFL · Form: 8-K · Filed: Sep 6, 2024 · CIK: 1302387
| Field | Detail |
|---|---|
| Company | Bv Financial, Inc. (BVFL) |
| Form Type | 8-K |
| Filed Date | Sep 6, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-compensation, director-changes
Related Tickers: BVFL
TL;DR
BV Financial's 8-K shows director shakeups and compensation changes.
AI Summary
BV Financial, Inc. filed an 8-K on September 6, 2024, reporting on several key events. These include the departure of a director, the election of new directors, and updates to officer compensation arrangements. The filing also covers the submission of matters to a vote of security holders and the filing of financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing is routine corporate governance and financial reporting, with no immediate financial distress or significant negative events indicated.
Key Players & Entities
- BV Financial, Inc. (company) — Registrant
- September 5, 2024 (date) — Earliest event reported
- September 6, 2024 (date) — Date of report
- Maryland (location) — State of Incorporation
- 14-1920944 (identifier) — I.R.S. Employer Identification No.
- 7114 North Point Road, Baltimore, Maryland 21219 (address) — Principal Executive Offices
FAQ
What specific changes were made regarding the departure of directors or certain officers?
The filing indicates the departure of a director and/or certain officers, but the specific names and reasons are detailed within the full report under Item 5.02.
Who were the newly elected directors?
The filing reports the election of directors, with the names and biographical information of the newly elected individuals provided in the full report under Item 5.02.
What are the key details of the updated compensatory arrangements for certain officers?
The 8-K mentions updates to compensatory arrangements for certain officers, with the specifics of these arrangements detailed in the full report under Item 5.02.
What matters were submitted to a vote of security holders?
The filing confirms that matters were submitted to a vote of security holders, as detailed under Item 5.07 of the report.
Are there any new financial statements or exhibits being filed with this report?
Yes, the filing includes financial statements and exhibits, as indicated by Item 9.01.
Filing Stats: 720 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-09-06 15:00:48
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share BVFL The Nasdaq Stock Mar
Filing Documents
- form8k.htm (8-K) — 42KB
- 0000943374-24-000370.txt ( ) — 178KB
- bvfl-20240905.xsd (EX-101.SCH) — 4KB
- bvfl-20240905_lab.xml (EX-101.LAB) — 22KB
- bvfl-20240905_pre.xml (EX-101.PRE) — 16KB
- form8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On September 5, 2024, the stockholders of BV Financial, Inc. (the "Company") approved the Company's 2024 Equity Incentive Plan (the "Plan"), which provides for the grant of stock-based awards to officers, employees and directors of the Company and BayVanguard Bank. A description of the material terms of the Plan is contained in the Company's Definitive Proxy Statement for the Annual Meeting of Stockholders filed with the Securities and Exchange Commission on August 1, 2024 (the "Proxy Statement"). The description of the Plan is qualified in its entirety by reference to the plan document attached hereto as Exhibit 10.1, which is incorporated by reference into this Item 5.02.
07
Item 5.07 Submission of Matters to a Vote of Securities Holders The Annual Meeting of Stockholders of BV Financial, Inc. (the "Company") was held on September 5, 2024. The final results of the vote on each matter submitted to a vote of stockholders is as follows: 1. The following individuals were elected as directors of the Company, each for a three-year term or until his or her successor is duly elected and qualified, by the following vote: For Withheld Broker Non-Votes Joseph S. Galli 7,704,678 630,358 1,393,569 Timothy L. Prindle 8,098,854 236,182 1,393,569 Matcheld V. Thomas 6,535,912 1,799,124 1,393,569 2. The approval of the BV Financial, Inc. 2024 Equity Incentive Plan: For Against Abstain Broker Non-votes 7,537,744 768,453 28,839 1,393,569 3. The approval of the ratification of the appointment of FORVIS, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024: For Against Abstain Broker Non-votes 9,347,258 99,426 282,011 —
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (a) No financial statements of businesses acquired are required. (b) No pro forma financial information is required. (c) Not Applicable. (d) Exhibits. 10.1 BV Financial, Inc. 2024 Equity Incentive Plan (incorporated by reference to Appendix A to the proxy statement for the Annual Meeting of Stockholders filed with the Securities and Exchange Commission on August 1, 2024 (File No. 001-41764)) 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).
SIGNATURES
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. BV FINANCIAL, INC. DATE: September 6, 2024 By: /s/ David M. Flair David M. Flair Co-President and Chief Executive Officer