---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-028054"
form_type: "8-K"
ticker: "NKSH"
cik: "0000796534"
company_name: "NATIONAL BANKSHARES INC"
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:53:59.985499+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# National Bankshares enters employment agreements with three executives

## Summary
- Base salaries set at $190,000 for COO Ramsey, $165,000 for CFO Jones, $190,600 for CCO Sanders.
- Initial two-year term with automatic one-year renewals unless notice given.
- Termination without cause or for good reason: Ramsey gets 24 months' salary/benefits; Jones and Sanders get 6 months.
- Change-in-control severance: Ramsey and Jones receive 2.99x bonus; Sanders receives 1.50x.
- Agreements include 12-month noncompete/nonsolicitation and clawback provisions.

## SEC filing metadata
- accession: 0001437749-23-028054
- form_type: 8-K
- ticker: NKSH
- cik: 0000796534
- company_name: NATIONAL BANKSHARES INC
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/796534/000143774923028054/0001437749-23-028054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/796534/000143774923028054/nksh20231011_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-028054
- JSON: https://secwatch.observer/filing/0001437749-23-028054.json
- Plain text: https://secwatch.observer/filing/0001437749-23-028054.txt

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