First Bancorp Reports Director Changes and Officer Compensation Updates
Ticker: FNLC · Form: 8-K · Filed: Jul 17, 2024 · CIK: 765207
| Field | Detail |
|---|---|
| Company | First Bancorp, Inc /Me/ (FNLC) |
| Form Type | 8-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: FNLC
TL;DR
FNLC board shakeup: director out, new one in, exec pay changes filed.
AI Summary
The First Bancorp, Inc. (FNLC) filed an 8-K on July 17, 2024, reporting changes related to its board of directors and executive compensation. The filing indicates a departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and does not indicate any significant financial distress or operational issues.
Key Players & Entities
- The First Bancorp, Inc. (company) — Registrant
- FNLC (company) — Ticker Symbol
- July 17, 2024 (date) — Filing Date
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but the specific name is not provided in the initial summary of the 8-K.
Was a new director elected?
Yes, the filing states that a new director was elected.
What other information is covered in the 8-K filing?
The filing also covers updates to compensatory arrangements of certain officers.
What is the filing date of this 8-K?
The filing date is July 17, 2024.
What is the principal executive office address of The First Bancorp, Inc.?
The principal executive offices are located at 223 Main Street, Damariscotta, Maine 04543.
Filing Stats: 586 words · 2 min read · ~2 pages · Grade level 10.3 · Accepted 2024-07-17 16:17:11
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share FNLC NASDAQ Global Select Mar
Filing Documents
- fnlc-20240717.htm (8-K) — 23KB
- 0000765207-24-000031.txt ( ) — 132KB
- fnlc-20240717.xsd (EX-101.SCH) — 2KB
- fnlc-20240717_lab.xml (EX-101.LAB) — 19KB
- fnlc-20240717_pre.xml (EX-101.PRE) — 11KB
- fnlc-20240717_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Page 1
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Page 1 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
01 Financial Statements and Exhibits Page 1
Item 9.01 Financial Statements and Exhibits Page 1 Signatures Page 2
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 17, 2024 , Susan A Norton, Clerk of The First Bancorp (the Company) and Executive Vice President, Chief Administrative Officer of First National Bank (the Bank) the Company's wholly owned banking subsidiary, provided notice of her intention to retire from the Company, effective February 14, 2025. Ms. Norton joined the Bank in 1992 and took on positions of increasing responsibility in compliance/risk, human resources and marketing and has been a member of the bank's Executive Management Team since 2002. She has served as the Clerk of the Company since 2021. It is expected that succeeding Ms. Norton will be Marcia Benner, currently SVP/Human Resources Officer. Ms. Benner joined the Bank in 2021 after working as EVP/CAO for another community bank. Ms. Benner will assume Ms. Norton's Human Resources and Marketing responsibilities. Also expected to succeed Ms. Norton, will be Jody Brown, currently SVP/Senior Credit Officer. Ms. Brown joined the Bank in 2002 and will assume Ms. Norton's Compliance/BSA and Risk responsibilities. Both Ms. Benner and Ms. Brown will be elevated to the Executive Management Team at a later date.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits SIGNATURE 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. THE FIRST BANCORP, INC. By: /s/ Richard M. Elder --------------------- Richard M. Elder Executive Vice President & Chief Financial Officer July 17, 2024