Union Bankshares names Jeffery Weidley as next President and CEO; Silverman to retire July 2026

UNION BANKSHARES INC

Weidley to join as President on May 4, 2026; will become CEO after Silverman's retirement on July 3, 2026.
Silverman, 65, to retire after 39 years; will remain on board and stand for re-election at 2026 annual meeting.
Weidley, 42, previously EVP-Chief Deposit Officer at MVB Bank; also held senior roles at Sandy Spring Bank.
Employment Agreement: $500k base salary, sign-on of 3,000 RSUs (3-yr vesting), $25k relocation, and split-dollar life insurance $700k.
Change of Control Agreement provides 200% base salary plus bonus severance; no tax gross-up.

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