---
schema_version: "secwatch.filing_event.v1"
accession: "0001903596-24-000096"
form_type: "8-K"
ticker: "NWPP"
cik: "0001163389"
company_name: "NEW PEOPLES BANKSHARES INC"
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T08:13:31.741088+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001903596-24-000096
- form_type: 8-K
- ticker: NWPP
- cik: 0001163389
- company_name: NEW PEOPLES BANKSHARES INC
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163389/000190359624000096/0001903596-24-000096-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163389/000190359624000096/nwpp_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001903596-24-000096
- JSON: https://secwatch.observer/filing/0001903596-24-000096.json
- Plain text: https://secwatch.observer/filing/0001903596-24-000096.txt

## Key facts
- Executive change
  C. Todd Asbury departed as President and Chief Executive Officer at NEW PEOPLES BANKSHARES INC.
  - Action: step down
  - Role: President and Chief Executive Officer
  source text: C. Todd Asbury, the President and Chief Executive Officer of the Company, will step down from his current positions effective March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163389/000190359624000096/0001903596-24-000096-index.htm
- Executive change
  James W. Kiser was appointed as President and Chief Executive Officer at NEW PEOPLES BANKSHARES INC.
  - Action: assume
  - Role: President and Chief Executive Officer
  source text: James W. Kiser, the President and Chief Executive Officer of the Bank, will assume those same duties with the Company on March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163389/000190359624000096/0001903596-24-000096-index.htm

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