Union Bankshares Appoints New Director, Elects Officers
Ticker: UNB · Form: 8-K · Filed: May 16, 2024 · CIK: 706863
| Field | Detail |
|---|---|
| Company | Union Bankshares Inc (UNB) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, board-appointment, officer-election
TL;DR
Union Bankshares added David Swift to the board and held officer elections.
AI Summary
Union Bankshares, Inc. announced on May 15, 2024, that it has appointed a new director, David W. Swift, to its Board of Directors. The filing also details the election of officers and information regarding compensatory arrangements for certain officers. Additionally, the company submitted matters to a vote of its security holders.
Why It Matters
Changes in board composition and officer elections can signal shifts in company strategy or governance, potentially impacting shareholder value.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters such as director appointments and officer elections, with no immediate financial distress indicated.
Key Players & Entities
- Union Bankshares, Inc. (company) — Registrant
- David W. Swift (person) — Newly appointed director
- May 15, 2024 (date) — Date of earliest event reported
FAQ
Who was appointed as a new director to Union Bankshares, Inc.'s Board of Directors?
David W. Swift was appointed as a new director.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 15, 2024.
What are the main items covered in this Form 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, submission of matters to a vote of security holders, and financial statements and exhibits.
What is the company's principal executive office address?
The principal executive offices are located at 20 Lower Main St., P.O. Box 667, Morrisville, VT 05661-0667.
What is the telephone number for Union Bankshares, Inc.?
The registrant's telephone number, including area code, is (802) 888-6600.
Filing Stats: 1,037 words · 4 min read · ~3 pages · Grade level 9.4 · Accepted 2024-05-16 16:46:41
Filing Documents
- unb-20240515.htm (8-K) — 44KB
- exhibit101-2024equityplans.htm (EX-10.1) — 42KB
- exhibit102-2024equityincen.htm (EX-10.2) — 235KB
- 0000706863-24-000057.txt ( ) — 479KB
- unb-20240515.xsd (EX-101.SCH) — 2KB
- unb-20240515_lab.xml (EX-101.LAB) — 19KB
- unb-20240515_pre.xml (EX-101.PRE) — 11KB
- unb-20240515_htm.xml (XML) — 2KB
07: Submission of Matters to a Vote of Security Holders
Item 5.07: Submission of Matters to a Vote of Security Holders The Company held its annual meeting of shareholders on May 15, 2024. Of 4,519,388 shares outstanding on the record date of the meeting (March 22, 2024) and entitled to vote, 3,166,296 shares were represented in person or by proxy. The following two matters were voted on by the shareholders and approved at the meeting: 1. To fix the number of directors at nine for the ensuing year and to elect the following individuals as directors to serve a one year term: Nominees Votes For Votes Withheld Broker Non-votes Joel S. Bourassa 1,999,404 263,727 903,165 Dawn D. Bugbee 2,011,181 251,950 903,165 Mary K. Parent 2,004,032 259,099 903,165 Nancy C. Putnam 2,008,892 254,239 903,165 Gregory D. Sargent 1,999,388 263,743 903,165 Timothy W. Sargent 2,005,043 258,088 903,165 David S. Silverman 2,233,825 29,306 903,165 Janet P. Spitler 2,004,756 258,375 903,165 Cornelius J. Van Dyke 1,983,968 279,163 903,165 2. To approve the Union Bankshares, Inc. 2024 Equity Incentive Plan. The number of votes in favor was sufficient to approve the resolution. Votes For Votes Against Abstained Broker Non-votes 2,096,323 152,477 14,331 903,165 3. To ratify the appointment of the firm of Berry Dunn McNeil & Parker, LLC as the Company's external auditors for 2024. The number of votes in favor was sufficient to ratify the appointment. Votes For Votes Against Abstained 3,131,603 21,719 12,974
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits The following Exhibits, referred to in Item 5.02 of the Report, are filed herewith: Exhibit 10.1 Description of material terms of the Union Bankshares, Inc. 2024 Equity Incentive Plan approved by the shareholders of Union Bankshares, Inc. at the 2024 annual meeting held on May 15, 2024. Exhibit 10.2 Union Bankshares, Inc. 2024 Equity Incentive Plan approved by the shareholders of Union Bankshares, Inc. at the 2024 annual meeting held on May 15, 2024.
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. Union Bankshares, Inc. May 16, 2024 /s/ David S. Silverman David S. Silverman President and Chief Executive Officer May 16, 2024 /s/ Karyn J. Hale Karyn J. Hale Chief Financial Officer EXHIBIT INDEX 10.1 Description of material terms of the Union Bankshares, Inc. 2024 Equity Incentive Plan approved by the shareholders of Union Bankshares, Inc. at the 2024 annual meeting held on May 15, 2024. 10.2 Union Bankshares, Inc. 2024 Equity Incentive Plan approved by the shareholders of Union Bankshares, Inc. at the 2024 annual meeting held on May 15, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)