---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-027837"
form_type: "8-K"
ticker: "MNSB"
cik: "0001693577"
company_name: "MainStreet Bancshares, Inc."
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T15:07:57.760527+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MainStreet Bancshares amends bylaws, enters executive agreements, and declares preferred dividend

## Summary
- Indemnification agreements approved for CEO Jeff W. Dick, CFO Thomas J. Chmelik, and President Abdul Hersiburane
- Employment agreement with President Abdul Hersiburane provides $330,772 base salary through Dec 31, 2024, with severance up to 299% of salary after change of control
- Bylaws amended to adopt universal proxy rules and tighten shareholder nomination requirements
- Quarterly cash dividend of $0.47 per depositary share (MNSBP) declared, payable Dec 30, 2022
- 2023 Annual Meeting scheduled for May 17, 2023, to be held virtually

## SEC filing metadata
- accession: 0001437749-22-027837
- form_type: 8-K
- ticker: MNSB
- cik: 0001693577
- company_name: MainStreet Bancshares, Inc.
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 5.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1693577/000143774922027837/0001437749-22-027837-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1693577/000143774922027837/main20221116_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-027837
- JSON: https://secwatch.observer/filing/0001437749-22-027837.json
- Plain text: https://secwatch.observer/filing/0001437749-22-027837.txt

## Key facts
- Governance Changes
  MainStreet Bancshares, Inc.: Amended and restated bylaws to update shareholder nomination and proposal procedures, including compliance with SEC Rule 14a-19 universal proxy rules, disclosure requirements, and other governance clarifications (effective 2022-11-16).
  - Change: bylaw amendment
  - Effective: 2022-11-16
  source text: On November 16, 2022, the Board of Directors of the Company approved and adopted amended and restated bylaws (the “Amended and Restated Bylaws”) which became effective the same day.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1693577/000143774922027837/0001437749-22-027837-index.htm

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