Corporate GovernanceMay 27, 2026, 04:06 PM
F&M Bank Corp. Amends 2020 Stock Incentive Plan
AI Summary
F&M Bank Corp. announced an amendment to its 2020 Stock Incentive Plan, approved by the Board of Directors on May 21, 2026. The changes include a new definition for "Retirement" as termination of employment after age 65 and five consecutive years of service. The amendment also grants the Compensation Committee discretionary authority to accelerate vesting of unvested awards upon a participant's Retirement and updates the clawback provision to ensure compliance with applicable laws and regulations.
Key Highlights
- Board approved amendment to 2020 Stock Incentive Plan on May 21, 2026.
- New "Retirement" definition added: age 65 with 5+ years of service.
- Compensation Committee gains discretionary authority to accelerate vesting upon participant's Retirement.
- Clawback provision updated to align with company policy, laws, regulations, or stock exchange requirements.
Price Impact
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