---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-276674"
form_type: "8-K"
ticker: null
cik: "0000836147"
company_name: "MIDDLEFIELD BANC CORP"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T04:21:57.519011+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Middlefield Banc appoints Ronald Zimmerly as CEO; James Heslop to retire Jan 1

## Summary
- Ronald L. Zimmerly, Jr. appointed CEO of Middlefield Banc Corp. and its bank subsidiary, effective Jan 1, 2024; he also continues as President.
- James R. Heslop, II retires as CEO and leaves board on Dec 31, 2023; receives 10,957 accelerated restricted shares, $199,100 lump sum, and $56,250 deferred comp credit.
- Board reduces size from 13 to 12 upon Heslop's resignation.
- Zimmerly's change-in-control severance multiplier increases from 2x to 2.5x due to his new role.

## SEC filing metadata
- accession: 0001193125-23-276674
- form_type: 8-K
- cik: 0000836147
- company_name: MIDDLEFIELD BANC CORP
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/836147/000119312523276674/0001193125-23-276674-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/836147/000119312523276674/d361813d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-276674
- JSON: https://secwatch.observer/filing/0001193125-23-276674.json
- Plain text: https://secwatch.observer/filing/0001193125-23-276674.txt

## Key facts
- Executive change
  Ronald L. Zimmerly, Jr. was appointed as Chief Executive Officer at MIDDLEFIELD BANC CORP.
  - Action: appoint
  - Role: Chief Executive Officer
  source text: On November 14, 2023, Middlefield Banc Corp. (the “Company”) announced that the Board of Directors of the Company will appoint Ronald L. Zimmerly, Jr. to serve as Chief Executive Officer of the Company and of The Middlefield Banking Company (the “Bank”), the wholly owned bank subsidiary of the Company, effective January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/836147/000119312523276674/0001193125-23-276674-index.htm
- Executive change
  James R. Heslop, II departed as Chief Executive Officer at MIDDLEFIELD BANC CORP.
  - Action: resign
  - Role: Chief Executive Officer
  source text: On November 13, 2023, James R. Heslop, II, Chief Executive Officer and director of the Company and the Bank, notified the Company’s Board that he will resign as Chief Executive Officer of the Company and the Bank effective January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/836147/000119312523276674/0001193125-23-276674-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.