MVB Financial Corp. Announces Director Changes and Officer Compensation
Ticker: MVBF · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1277902
Sentiment: neutral
Topics: board-changes, executive-compensation, corporate-governance
Related Tickers: MVBF
TL;DR
MVB board shakeup: Harris out, Johnson & Martin in. Officer pay details also filed.
AI Summary
MVB Financial Corp. announced on June 4, 2024, the departure of director John B. Harris and the appointment of new directors, including David M. R. Johnson and Christopher L. Martin. The company also reported on compensatory arrangements for certain officers. This filing is a current report under the Securities Exchange Act of 1934.
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 — This is a routine filing reporting changes in board members and officer compensation, which typically carries low inherent risk.
Key Players & Entities
- MVB Financial Corp. (company) — Registrant
- John B. Harris (person) — Departing Director
- David M. R. Johnson (person) — Appointed Director
- Christopher L. Martin (person) — Appointed Director
- June 4, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the board of directors at MVB Financial Corp.?
John B. Harris has departed from the board of directors.
When was the earliest event reported in this Form 8-K filing?
The earliest event reported was on June 4, 2024.
What are the names of the newly appointed directors?
The filing indicates the appointment of new directors, including David M. R. Johnson and Christopher L. Martin.
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing is a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, reporting on the departure of directors, election of directors, appointment of officers, and compensatory arrangements.
What is the principal executive office address for MVB Financial Corp.?
The principal executive office address is 301 Virginia Avenue, Fairmont, WV 26554-2777.
Filing Stats: 478 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-06-07 16:18:18
Key Financial Figures
- $1.00 — ange on which registered Common stock, $1.00 par value MVBF The Nasdaq Stock Market
Filing Documents
- mvbf-20240604.htm (8-K) — 22KB
- 0001277902-24-000103.txt ( ) — 141KB
- mvbf-20240604.xsd (EX-101.SCH) — 2KB
- mvbf-20240604_lab.xml (EX-101.LAB) — 21KB
- mvbf-20240604_pre.xml (EX-101.PRE) — 12KB
- mvbf-20240604_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 4, 2024, John C. Marion, Executive Vice President and Chief Risk Officer of MVB Financial Corp. (the "Company") and its wholly owned bank subsidiary, MVB Bank, Inc. (the "Bank" together with the Company, collectively referred to as "MVB"), provided notice of his resignation from his position with MVB to pursue another employment opportunity with another company, with such resignation to be effective August 2, 2024. Mr. Marion's resignation was not the result of any issues or disagreements with MVB relating to its operations, polices or practices.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. MVB Financial Corp. By: /s/ Donald T. Robinson Donald T. Robinson President and Chief Financial Officer Date: June 7, 2024