New Peoples Bankshares CEO Asbury to step down Mar 31; Kiser to succeed; dividend $0.07, buyback up to 500k shares

NEW PEOPLES BANKSHARES INC

CEO C. Todd Asbury steps down effective March 31, 2024; James W. Kiser, Bank CEO, assumes Company CEO role.
Asbury becomes senior advisor through May 2025 and remains Board member until 2025 annual meeting.
Dividend of $0.07 per share declared, payable March 29, 2024 to shareholders of record March 15, 2024.
Board authorized continuation of share repurchase of up to 500,000 shares through March 31, 2025.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

C. Todd Asbury

President and Chief Executive Officer

NWPP · NEW PEOPLES BANKSHARES INC

Effective: 2024-03-31
Successor: James W. Kiser
Filed: February 28, 2024, 6:59 PM ET

C. Todd Asbury, the President and Chief Executive Officer of the Company, will step down from his current positions effective March 31, 2024.

Appointed

James W. Kiser

President and Chief Executive Officer

NWPP · NEW PEOPLES BANKSHARES INC

Effective: 2024-03-31
Filed: February 28, 2024, 6:59 PM ET

James W. Kiser, the President and Chief Executive Officer of the Bank, will assume those same duties with the Company on March 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

C. Todd Asbury departed as President and Chief Executive Officer at NEW PEOPLES BANKSHARES INC.

Action: step down
Role: President and Chief Executive Officer

Exact text from the filing

C. Todd Asbury, the President and Chief Executive Officer of the Company, will step down from his current positions effective March 31, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James W. Kiser was appointed as President and Chief Executive Officer at NEW PEOPLES BANKSHARES INC.

Action: assume
Role: President and Chief Executive Officer

Exact text from the filing

James W. Kiser, the President and Chief Executive Officer of the Bank, will assume those same duties with the Company on March 31, 2024.

View on SEC.gov

NEW PEOPLES BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0001903596-24-000096

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