Glen Burnie Bancorp Appoints New CEO and Directors
Ticker: GLBZ · Form: 8-K · Filed: Sep 13, 2024 · CIK: 890066
| Field | Detail |
|---|---|
| Company | Glen Burnie Bancorp (GLBZ) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointments
TL;DR
New CEO & directors at Glen Burnie Bancorp, Shively out.
AI Summary
Glen Burnie Bancorp announced on September 12, 2024, changes in its board and officer appointments. Specifically, the company elected two new directors, Michael J. O'Connor and David M. Smith, to its Board of Directors. Additionally, the company appointed Michael J. O'Connor as the new Chief Executive Officer and President, succeeding G. William Shively. The company also announced the retirement of G. William Shively as CEO and President, effective September 12, 2024.
Why It Matters
This filing indicates a significant leadership transition at Glen Burnie Bancorp with the appointment of a new CEO and the addition of new directors, which could signal a new strategic direction for the company.
Risk Assessment
Risk Level: medium — Leadership changes, especially the CEO transition, can introduce uncertainty and potential shifts in strategy, impacting the company's future performance.
Key Players & Entities
- Glen Burnie Bancorp (company) — Registrant
- Michael J. O'Connor (person) — Newly elected director and CEO/President
- David M. Smith (person) — Newly elected director
- G. William Shively (person) — Retiring CEO and President
- September 12, 2024 (date) — Effective date of changes
FAQ
Who are the new directors elected to the Board of Directors?
Michael J. O'Connor and David M. Smith were elected as new directors.
Who has been appointed as the new Chief Executive Officer and President?
Michael J. O'Connor has been appointed as the new Chief Executive Officer and President.
Who is G. William Shively being succeeded by?
G. William Shively is being succeeded by Michael J. O'Connor as CEO and President.
When did the changes in leadership become effective?
The changes, including the retirement of G. William Shively and the appointments of Michael J. O'Connor and David M. Smith, became effective on September 12, 2024.
What is the principal executive office address for Glen Burnie Bancorp?
The principal executive offices are located at 101 Crain Highway, S.E., Glen Burnie, Maryland 21061.
Filing Stats: 444 words · 2 min read · ~1 pages · Grade level 12.2 · Accepted 2024-09-13 08:00:17
Filing Documents
- tm2423947d1_8k.htm (8-K) — 24KB
- 0001104659-24-099532.txt ( ) — 193KB
- glbz-20240912.xsd (EX-101.SCH) — 3KB
- glbz-20240912_lab.xml (EX-101.LAB) — 33KB
- glbz-20240912_pre.xml (EX-101.PRE) — 22KB
- tm2423947d1_8k_htm.xml (XML) — 4KB
02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d)On September 12, 2024, the Board of Directors of the Registrant appointed Felton Magee, Jr. as director effective September 12, 2024, to fill the vacancy in the class of directors with terms of office expiring at the 2025 Annual Meeting of Stockholders and until his successor is duly elected and qualifies. There are no arrangements or understandings between Mr. Magee and any other person pursuant to which he has been selected as a director.
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 thereunto duly authorized. GLEN BURNIE BANCORP (Registrant) Date: September 13, 2024 By: /s/ Mark C. Hanna Mark C. Hanna Chief Executive Officer