secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0000706863-24-000075
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Union Bankshares board adopts 20-year director tenure limit; exempts two current directors
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- Board amended Bylaws to impose a 20-year tenure limit for directors, effective November 20, 2024.
- Directors David Silverman and Timothy Sargent exempted from the tenure limit via board resolution.
- Director Mary Parent and future directors will be subject to the new tenure limitation.
- Tenure limit operates independently from the existing age-72 qualification; current term allowed to expire.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000075/0000706863-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000075/unb-20241120.htm
  HTML page:      https://secwatch.observer/filing/0000706863-24-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer