SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 18, 2026
(Exact name of registrant as specified in its charter)
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Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Section 3.2 of the Bylaws of Union Bankshares, Inc. (the “Company”) provides, in pertinent part, that no individual may be elected, re-elected or appointed to the Board of Directors (the “Board”) after reaching his or her 72nd birthday. Accordingly, Board Chair Neil J. Van Dyke, age 72, will not stand for re-election to the Board at the Company’s 2026 annual meeting of shareholders. In view of the Board Chair’s upcoming retirement and, as previously reported, the pending transition in the Company’s executive management with the retirement of current President and Chief Executive Officer David Silverman in July and the hiring of Jeffrey Weidley to succeed him, on March 18, 2026 the Board decided that Mr. Silverman should assume the position of Board Chair following Mr. Van Dyke’s retirement. The Board has concluded that Mr. Silverman, with his deep knowledge of the Company’s banking business, operations and markets, is best suited to lead the Board at this time.
As Mr. Silverman would not be considered an independent director under Nasdaq listed company rules, the Board has designated Vice Chair Timothy Sargent to serve as the Lead Independent Director.
It is expected that Mr. Silverman’s appointment as Board Chair and Mr. Sargent’s appointment as Lead Independent Director will be formalized by the Board at its annual organizational meeting following the annual meeting of shareholders and will take effect at that time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Union Bankshares, Inc. | |||||
| March 24, 2026 | /s/ Karyn J. Hale | ||||
| Karyn J. Hale | |||||
| Chief Financial Officer | |||||
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