Community Bancorp. Reports Director/Officer Changes & Compensation
Ticker: CMTV · Form: 8-K · Filed: Dec 17, 2024 · CIK: 718413
| Field | Detail |
|---|---|
| Company | Community Bancorp /Vt (CMTV) |
| Form Type | 8-K |
| Filed Date | Dec 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.24 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, officer-appointment, director-changes, compensation
TL;DR
Community Bancorp. filed an 8-K detailing director changes, new officer appointments, and executive pay. Watch for governance shifts.
AI Summary
Community Bancorp./VT filed an 8-K on December 17, 2024, reporting events as of December 12, 2024. The filing covers the departure of directors, election of new directors, appointment of officers, and details compensatory arrangements for certain officers. It also includes information on other events and financial statements/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: medium — Changes in directors and officers, along with compensatory arrangements, can indicate internal shifts that may affect the company's future direction and stability.
Key Players & Entities
- Community Bancorp./VT (company) — Registrant
- Vermont (location) — State of Incorporation
- December 12, 2024 (date) — Earliest event date
- December 17, 2024 (date) — Filing date
FAQ
What specific changes were made regarding directors and officers?
The filing indicates the departure of directors, the election of new directors, and the appointment of certain officers.
What information is provided about compensatory arrangements?
The filing details compensatory arrangements for certain officers.
What is the date of the earliest event reported in this 8-K?
The earliest event reported on is December 12, 2024.
What is the principal executive office address of Community Bancorp./VT?
The principal executive office is located at 4811 US Route 5, Derby, Vermont 05829.
What is the SIC code for Community Bancorp./VT?
The Standard Industrial Classification (SIC) code for Community Bancorp./VT is 6021, which corresponds to National Commercial Banks.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-17 15:00:20
Key Financial Figures
- $0.24 — s declared a quarterly cash dividend of $0.24 per share payable February 1, 2025 to s
Filing Documents
- cmtv_8k.htm (8-K) — 24KB
- cmtv_ex991.htm (EX-99.1) — 3KB
- cmtv_8kimg2.jpg (GRAPHIC) — 8KB
- 0001654954-24-015655.txt ( ) — 159KB
- cmtv-20241212.xsd (EX-101.SCH) — 6KB
- cmtv-20241212_lab.xml (EX-101.LAB) — 12KB
- cmtv-20241212_cal.xml (EX-101.CAL) — 1KB
- cmtv-20241212_pre.xml (EX-101.PRE) — 8KB
- cmtv-20241212_def.xml (EX-101.DEF) — 2KB
- cmtv_8k_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events On December 17, 2024, Community Bancorp. announced that its Board of Directors has declared a quarterly cash dividend of $0.24 per share payable February 1, 2025 to shareholders of record on January 15, 2025. The Company's press release dated December 17, 2024 is filed as Exhibit 99.1 to this Report, and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit 99.1 - Press Release of Community Bancorp. dated December 17, 2024 Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (d) On December 12, 2024, the Boards of Directors of Community Bancorp. (the Company) and its wholly-owned subsidiary, Community National Bank (the Bank) unanimously appointed Wayne Lamberton, age 58, to the Boards of Directors of the Company and the Bank, effective January 1, 2025. Mr. Lamberton was appointed to the class of directors whose term expires at the Company's 2028 Annual Meeting of Shareholders, at which time he will stand for election to a three-year term. Mr. Lamberton has been appointed to serve on the Company's Corporate Governance Committee and Risk Management Committee. Mr. Lamberton, a central Vermont native, served in the United States Army before starting Lamberton Electric upon his return from service. After selling Lamberton Electric, he started Superior Development, a real estate development company which he manages today. He has been the developer and manager of several successful businesses, including Maplewood Convenience Stores and the central Vermont Comfort Inn. Mr. Lamberton has been a member of the Bank's Central Vermont Advisory Board since its inception in the early 2000's and the company's state-wide Advisory Committee. 2
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. COMMUNITY BANCORP. DATED: December 17, 2024 /s/ Kathryn M. Austin Kathryn M. Austin, President & Chief Executive Officer 3