UNION BANKSHARES INC (UNB) 8-K Current Report: February 26, 2026
Filed: February 26, 2026
Financials
State Commercial BanksUNION BANKSHARES INC (UNB) 8-K current report filed with SEC EDGAR on February 26, 2026. This page provides AI-powered analysis of reported events and material disclosures, including results of operations, corporate governance changes, agreements, and other triggering events as disclosed under Form 8-K item codes.
Reported 8-K Items1 item
- Item 5.02: Departure/Election of Directors or Officers
UNION BANKSHARES INC 8-K Feb 26, 2026 Event Analysis
Item 5.02 · Departure/Election of Directors or Officers
- • Jeffery F. Weidley (age 42) named CEO successor to David Silverman; joins as President May 4, 2026; assumes CEO title July 3, 2026
- • Base salary $500,000/year plus 3,000 RSUs vesting over ~3 years and $25,000 relocation payment
- • Termination without cause triggers 1.5x base salary + 1.5x STIPP target as lump-sum severance
- • Change-in-control payout set at 2x base salary + 2x short-term bonus + 24 months benefits continuation — no tax gross-up
- • Silverman (age 65, 39-year tenure) to remain on Board post-retirement; leadership continuity risk modest given structured 2-month overlap
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