secwatch.observer — SEC 8-K summary
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Issuer:     NEW PEOPLES BANKSHARES INC (NWPP)
CIK:        0001163389
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001903596-23-000164
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

New Peoples Bankshares adopts long-term cash incentive plan tied to EPS; initial awards to top executives
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- Plan provides cash awards based on quarterly EPS; up to 500,000 notional shares may be granted.
- Initial awards: CEO C. Todd Asbury (140,000 shares), EVP James W. Kiser (110,000), EVP Bryan T. Booher (100,000), plus 150,000 to other senior management.
- Awards vest 25% per year over four years; settled in cash upon separation, change of control, or 10-year anniversary.
- Plan effective Feb 27, 2023; administered by independent directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163389/000190359623000164/0001903596-23-000164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163389/000190359623000164/nwpp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001903596-23-000164

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