New Peoples Bankshares Inc. Schedules 2024 Annual Meeting of Shareholders

TL;DR

<b>New Peoples Bankshares Inc. invites shareholders to its 2024 Annual Meeting on May 21, 2024, to vote on director elections, executive compensation, and auditor ratification.</b>

AI Summary

NEW PEOPLES BANKSHARES INC (NWPP) filed a Proxy Statement (DEF 14A) with the SEC on April 11, 2024. The 2024 Annual Meeting of Shareholders for New Peoples Bankshares, Inc. will be held on Tuesday, May 21, 2024, at 6:00 p.m. at the Abingdon office of New Peoples Bank. Shareholders will vote on three proposals: election of directors, advisory approval of executive compensation, and ratification of the independent registered public accounting firm for 2024. Proxy materials are being furnished primarily over the Internet, with a notice mailed to shareholders on or about April 11, 2024. Shareholders can access, print, and download materials including the notice, Proxy Statement, proxy card, and 2023 Annual Report on Form 10-K at http://www.edocumentview.com/NWPP. The company emphasizes the importance of shareholder representation and voting, whether or not attending in person.

Why It Matters

For investors and stakeholders tracking NEW PEOPLES BANKSHARES INC, this filing contains several important signals. This filing is a definitive proxy statement (DEF 14A) providing shareholders with information necessary to vote on key corporate matters, including director appointments and executive compensation. The company is utilizing a primarily internet-based distribution method for proxy materials, which is a common practice to reduce costs and environmental impact.

Risk Assessment

Risk Level: low — NEW PEOPLES BANKSHARES INC shows low risk based on this filing. The filing is a routine proxy statement with no immediate financial or operational disclosures indicating significant risk.

Analyst Insight

Shareholders should review the proxy materials to make informed voting decisions on director nominees, executive compensation, and auditor ratification.

Key Numbers

• 2024 — Annual Meeting Year (2024 Annual Meeting of Shareholders)
• May 21 — Meeting Date (Tuesday, May 21, 2024)
• 6:00 p.m. — Meeting Time (6:00 p.m. at the Abingdon office)
• 2023 — Reporting Year for Annual Report (2023 Annual Report on Form 10-K)

Key Players & Entities

• NEW PEOPLES BANKSHARES INC (company) — Registrant name
• May 21, 2024 (date) — Date of Annual Meeting
• Abingdon office of New Peoples Bank (company) — Location of Annual Meeting
• April 11, 2024 (date) — Mailing date of proxy material notice
• http://www.edocumentview.com/NWPP (url) — Website for proxy materials

FAQ

Risk Factors

• Proxy Solicitation Rules [low — regulatory]: The filing must comply with SEC regulations for proxy statements, including disclosure of information related to director nominees, executive compensation, and shareholder proposals.
• Shareholder Participation [low — operational]: Ensuring adequate shareholder participation and voting is crucial for the validity of decisions made at the annual meeting.

Key Dates

• 2024-05-21: 2024 Annual Meeting of Shareholders — Shareholders will vote on key corporate matters.
• 2024-04-11: Mailing of Proxy Material Notice — Shareholders received instructions on accessing proxy materials and voting.

Glossary

DEF 14A

Definitive Proxy Statement filed with the SEC. (Provides detailed information for shareholders to vote on company matters.)

Proxy Statement

A document providing information to shareholders regarding matters to be voted on at a shareholder meeting. (Essential for informed shareholder decision-making on director elections and compensation.)

Named Executive Officers (NEOs)

The top executive officers of a company whose compensation is disclosed in proxy statements. (Shareholders vote on a non-binding resolution to approve their compensation.)

Key Financial Figures

• $2.00 — holders of the common stock, par value $2.00 per share ("Common Stock"), of New Peop

Filing Documents

• nwpp_def14a.htm (DEF 14A) — 346KB
• img-001.jpg (GRAPHIC) — 225KB
• img-002.jpg (GRAPHIC) — 249KB
• img-003.jpg (GRAPHIC) — 178KB
• img-004.jpg (GRAPHIC) — 193KB
• 0001903596-24-000211.txt (&nbsp;) — 2780KB
• nwpp-20231231.xsd (EX-101.SCH) — 4KB
• nwpp-20231231_def.xml (EX-101.DEF) — 6KB
• nwpp-20231231_lab.xml (EX-101.LAB) — 51KB
• nwpp-20231231_pre.xml (EX-101.PRE) — 40KB
• nwpp_def14a_htm.xml (XML) — 32KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 NEW PEOPLES BANKSHARES, INC. (Name of Registrant as Specified In Its Charter) NOT APPLICABLE (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. NEW PEOPLES BANKSHARES, INC. 67 Commerce Drive Honaker, Virginia 24260 Dear Shareholder: You are cordially invited to attend the 2024 Annual Meeting of Shareholders of New Peoples Bankshares, Inc. (the "Company") to be held on Tuesday, May 21, 2024, at 6:00 p.m. at the Abingdon office of New Peoples Bank, 350 West Main Street, Abingdon, Virginia 24210. At the Annual Meeting, you will be asked to vote on three proposals: the election of directors, the approval of a non-binding resolution approving the compensation of the named executive officers disclosed in the accompanying Proxy Statement, and the ratification of our independent registered public accounting firm for 2024. We are furnishing proxy materials to our shareholders primarily over the Internet. You may read, print and download these materials, including a formal notice of the Annual Meeting, a Proxy Statement, the proxy card, and the 2023 Annual Report on Form 10-K at http://www.edocumentview.com/NWPP. On or about April 11, 2024, we mailed our shareholders a notice with instructions on how to access these materials and how to vote your shares online. The notice also provides instructions on how you can request a paper copy of these materials if you would prefer. Whether or not you plan to attend the Annual Meeting in person, it is important that your shares be represented and voted . Please read the accompanying Proxy Statement and submit your proxy via the Internet, by using the toll-free telephone number or, if you request a paper copy, by completing, signing, dating and returning your proxy card promptly using the enclosed postage-paid envelope. You also may attend the annual meeting and vote in person. Your Proxy may be revoked at any time before it has been voted. If your broker, bank or other nominee holds your shares, you also should contact your nominee for additional information. We hope you will participate in the Annual Meeting, either in person or by proxy. Sincerely, /s/ James W. Kiser James W. Kiser President and Chief Executive Officer Honaker, Virginia April 11, 2024 NEW PEOPLES BANKSHARES, INC. 67 Commerce Drive Honaker, Virginia 24260 ___________________ NOTICE OF ANNUAL MEETING OF SHAREHOLDERS ___________________ The Annual Meeting of Shareholders (the "Annual Meeting") of New Peoples Bankshares, Inc. (the "Company") will be held on Tuesday, May 21, 2024 at 6:00 p.m. at the Abingdon office of New Peoples Bank, 350 West Main Street, Abingdon, Virginia 24210. At the meeting, you will be asked to vote on the following proposals: 1. To elect four directors to serve for terms of three years each expiring at the 2027 annual meeting of shareholders; and to elect one director to serve for a term of two years expiring at the 2026 annual meeting of shareholders; 2. To approve a non-binding resolution approving the compensation of the named executive officers disclosed in this Proxy Statement; and 3. To ratify the Audit Committee's appointment of Yount, Hyde & Barbour, PC as the Company's independent registered public accounting firm for the year ending December 31, 2024. Only holders of record of shares of the Company's common stock at the close of business on March 27, 2024, the record date set by our Board of Directors, are entitled to notice of, and to vote at, the Annual Meeting. It is important that as many shares as possible be represented at the Annual Meeting. Please read this Proxy Statement and submit your proxy via the Internet, by using the toll-free telephone number or, if you request a paper copy, by completing, signing, dating and returning your proxy card promptly using the enclosed postage-paid envelope. You may revoke your proxy at any time before it has been voted. By Order of the Board of Directors /s/ John J. Boczar John J. Boczar Secretary April 11, 2024 Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be Held on May 21, 2024. The Proxy Statement, proxy card and the 2023 Annual Report on Form 10-K are available at http://www.edocumentview.com/NWPP. If your shares of the Company's common s

View Full Filing

View this DEF 14A filing on SEC EDGAR