Community Bancorp /VT Schedules Annual Shareholder Meeting for May 14, 2024

TL;DR

<b>Community Bancorp /VT will hold its Annual Shareholder Meeting on May 14, 2024, to elect directors and ratify auditors.</b>

AI Summary

COMMUNITY BANCORP /VT (CMTV) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. Annual Shareholder Meeting scheduled for May 14, 2024, at 2:00 p.m. ET in Newport, Vermont. Shareholders will vote on the election of five directors for a three-year term expiring in 2027. The company will also seek ratification of BerryDunn as external auditors for 2024. Shareholders are encouraged to vote by internet, telephone, or mail to ensure representation. Brokerage account holders must provide voting instructions to their broker for director elections.

Why It Matters

For investors and stakeholders tracking COMMUNITY BANCORP /VT, this filing contains several important signals. Shareholder participation is crucial for electing directors and approving auditors, impacting corporate governance and financial oversight. The meeting's outcome will determine the board's composition and the firm responsible for auditing the company's financial statements for 2024.

Risk Assessment

Risk Level: low — COMMUNITY BANCORP /VT shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting with no immediate financial or operational concerns highlighted.

Analyst Insight

Shareholders should review the director nominees and auditor ratification proposals before the May 14, 2024 meeting.

Key Numbers

• 5 — Directors to be elected (Election of five directors to a three-year term)
• 2027 — Director Term Expiration Year (Directors elected will serve a term expiring in 2027)
• 2024 — Fiscal Year for Auditors (Ratification of BerryDunn as external auditors for 2024)
• 2:00 p.m. Eastern Time — Meeting Time (Annual Meeting will be held at 2:00 p.m. Eastern Time)

Key Players & Entities

• COMMUNITY BANCORP /VT (company) — Registrant
• Kathryn M. Austin (person) — President & CEO
• BerryDunn (company) — External Auditors
• May 14, 2024 (date) — Annual Meeting Date
• 2027 (date) — Director Term Expiration
• March 20, 2024 (date) — Record Date

FAQ

Risk Factors

• Compliance with SEC Proxy Rules [low — regulatory]: The company must comply with all SEC rules and regulations regarding the filing and distribution of proxy materials.
• Shareholder Participation [low — operational]: Ensuring sufficient shareholder participation and voting is critical for the validity of corporate actions like director elections.

Industry Context

Community Bancorp /VT operates within the national commercial banking sector, requiring adherence to financial regulations and shareholder governance practices.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

1. Review the profiles of the five director nominees for the upcoming election.
2. Confirm the ratification process for BerryDunn as the external auditor for fiscal year 2024.
3. Ensure voting instructions are submitted by the deadline, especially for shareholders with shares held in brokerage accounts.

Key Dates

• 2024-05-14: Annual Meeting of Shareholders — Election of directors and ratification of auditors
• 2024-04-03: Filing Date — Definitive Proxy Statement filed
• 2024-03-20: Record Date — Determines shareholders eligible to vote

Year-Over-Year Comparison

This is a Definitive Proxy Statement (DEF 14A) filing, indicating the company is formally soliciting shareholder votes for its annual meeting.

Key Financial Figures

• $2.50 — rd of the Company&rsquo;s common stock, $2.50 par value per share, on the record date

Filing Documents

• ea0202380-def14a_community.htm (DEF 14A) — 337KB
• image_001.jpg (GRAPHIC) — 6KB
• image_002.jpg (GRAPHIC) — 3KB
• image_003.jpg (GRAPHIC) — 6KB
• image_004.jpg (GRAPHIC) — 3KB
• image_005.jpg (GRAPHIC) — 460KB
• image_006.jpg (GRAPHIC) — 532KB
• 0001174947-24-000488.txt (&nbsp;) — 1730KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 20

Executive Compensation Program Objectives

Executive Compensation Program Objectives and Risk Management Considerations 20 Summary Compensation Table 21 Officer Incentive Plan 22 Retirement Savings Plan 23 Perquisites and Other Personal Benefits 24 Health and Welfare Benefits 24 Change in Control Agreements 24 ADDITIONAL PAY VERSUS PERFORMANCE INFORMATION 25 PROPOSAL 2 - RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS 26 Pre-Approval Required for Services of Independent Auditors 26 Fees Paid to Independent Auditors 26 Vote Required 27 ANNUAL REPORT 27 SHAREHOLDER NOMINATIONS AND OTHER PROPOSALS 27 Bylaw Requirements for Shareholder Nominations and Other Proposals 27 Use of Discretionary Authority in Connection with Shareholder Nominations and Proposals 28 Inclusion of Shareholder Proposals in Company Proxy Materials 28 OTHER MATTERS 28 VOTING QUESTIONS OR OTHER SHAREHOLDER ASSISTANCE 28 COMMUNITY BANCORP. 4811 U.S. Route 5 Newport, Vermont 05855 PROXY STATEMENT ANNUAL MEETING OF SHAREHOLDERS May 14, 2024 This proxy statement is furnished to our shareholders in connection with the solicitation of proxies by the Board of Directors of Community Bancorp. (the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo; ) for use at the annual meeting of shareholders and at any postponements or adjournments of that meeting. The annual meeting will be held on Tuesday, May 14, 2024, at 2:00 p.m. Eastern Time at The East Side Restaurant, 47 Landing Street, in Newport, Vermont. This proxy statement and related proxy card are first being made available to our shareholders on or about April 3, 2024. GENERAL INFORMATION ABOUT THE MEETING AND VOTING Who is entitled to vote at the annual meeting? Only holders of record of the Company&rsquo;s common stock, $2.50 par value per share, on the record date for the meeting are entitled to vote at the meeting. The record date for the meeting is the close of business on March 20, 2024. T

View Full Filing

View this DEF 14A filing on SEC EDGAR