Union Bankshares Files 8-K with Bylaw, Financial Updates

TL;DR

UNION BANKSHARES INC filed an 8-K on 11/20/24 for bylaw changes and financials.

AI Summary

Union Bankshares Inc. filed an 8-K on November 20, 2024, reporting changes to its Articles of Incorporation or Bylaws and filing financial statements and exhibits. The company, incorporated in Vermont with its fiscal year ending December 31, is headquartered in Morrisville, VT.

Why It Matters

This filing indicates routine corporate governance updates and the submission of financial information, which is important for investors to stay informed about the company's operational and legal status.

Risk Assessment

Risk Level: low — The filing pertains to standard corporate reporting and does not indicate any immediate financial distress or significant strategic shifts.

Key Numbers

• 12/31 — Fiscal Year End (Indicates the end of the company's financial reporting year.)

Key Players & Entities

• UNION BANKSHARES INC (company) — Registrant
• November 20, 2024 (date) — Date of earliest event reported
• Vermont (location) — State of incorporation
• Morrisville, VT (location) — Principal executive offices location
• 03-0283552 (identifier) — IRS Employer Identification Number

FAQ

Key Financial Figures

• $2.00 — ction 12(b) of the Act: Common Stock, $2.00 par value UNB Nasdaq Stock Market (Tit

Filing Documents

• unb-20241120.htm (8-K) — 29KB
• exhibit31bylaws2024.htm (EX-3.1) — 202KB
• 0000706863-24-000075.txt ( ) — 377KB
• unb-20241120.xsd (EX-101.SCH) — 2KB
• unb-20241120_lab.xml (EX-101.LAB) — 20KB
• unb-20241120_pre.xml (EX-101.PRE) — 11KB
• unb-20241120_htm.xml (XML) — 2KB

03. Amendments to Articles of Association and Bylaws; Change in Fiscal Year

Item 5.03. Amendments to Articles of Association and Bylaws; Change in Fiscal Year On November 20, 2024, the Board of Directors (the " Board ") of Union Bankshares, Inc. (the " Company ") adopted an amendment to Article III, Section 3.2 of the Company's Bylaws providing for a twenty (20) year limitation on service as a director, which will operate independently from the existing age qualification. As revised, Article III, Section 3.2 reads in its entirety as follows: Section 3.2. Age, Tenure and Other Qualifications. No individual may be elected, re-elected or appointed to a term of office as a Director following the first to occur of (i) his or her seventy-second (72 nd ) birthday (" Age Qualification "), or (ii) the twentieth (20 th ) anniversary of his or her first election or appointment to the Board of Directors of the Bank's parent company, Union Bankshares, Inc. (" Tenure Qualification "). Notwithstanding the foregoing, (i) any Director who reaches the age of 72 or who reaches the twentieth anniversary of his or her tenure on the Board of Union Bankshares, Inc., in either case, during his or her term of office on the Board may continue to serve until the expiration of such term at the next annual meeting of shareholders; and (ii) within sixty (60) days following the initial adoption of the foregoing Tenure Qualification, in its discretion the Board of Directors may by resolution except one or more of the incumbent Directors from the Tenure Qualification with respect to their future service (if any) on the Board of Directors, on such basis as the Board deems advisable. In addition to the Age Qualification and the Tenure Qualification, the Board may adopt such other qualifications to serve as a Director as they deem advisable, provided, however , that Directors need not be residents of the State of Vermont. The amendment took effect on November 20, 2024, immediately upon adoption by the Board. Also on November 20, 2024 pursuant to its limited exemption

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit 3.1 Amended and Restated Bylaws of Union Bankshares, Inc. (amended and restated through November 20, 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. November 21, 2024 /s/ David S. Silverman David S. Silverman Chief Executive Officer November 21, 2024 /s/ Karyn J. Hale Karyn J. Hale Chief Financial Officer EXHIBIT INDEX 3.1 Amended and Restated Bylaws of Union Bankshares, Inc. (amended and restated through November 20, 2024) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

View Full Filing

View this 8-K filing on SEC EDGAR