UNION BANKSHARES INC 8-K

What Happened

• Union Bankshares, Inc. filed an 8‑K on May 21, 2026 reporting results of its annual shareholders meeting held May 20, 2026. Director Cornelius J. Van Dyke did not stand for re‑election and retired as director and Board Chair of Union Bankshares and Union Bank upon reaching the company’s mandatory retirement age.
• At the organizational board meeting on May 20, 2026, CEO David S. Silverman was named Board Chair; Timothy W. Sargent was named Vice Chair and Lead Independent Director. The board fixed the number of directors at ten and elected the following directors to one‑year terms: Dawn D. Bugbee; Steven P. Cote; Walter B. Frame III; Mary K. Parent; Nancy C. Putnam; Gregory D. Sargent; Timothy W. Sargent; David S. Silverman; Janet P. Spitler; and Jeffrey F. Weidley.

Key Details

• Record date: March 27, 2026 — Shares outstanding: 4,614,050. Shares represented at the meeting: 3,297,195.
• Broker non‑votes: 829,514 were recorded on the director elections.
• All ten nominees were elected; example vote totals include David S. Silverman (For: 2,408,750) and Jeffrey F. Weidley (For: 2,419,334).
• Shareholders ratified BDMP Assurance, LLP as external auditors for 2026 (For: 3,268,522; Against: 11,454; Abstained: 17,219).

Why It Matters

• Leadership change: the retirement of long‑time Chair Cornelius Van Dyke and elevation of CEO David Silverman to Chair consolidates executive and board leadership roles, while naming a lead independent director (Timothy Sargent) preserves a channel for independent board oversight.
• Corporate governance and continuity: the board slate was approved by shareholders and the auditor appointment was ratified, signaling shareholder support for current governance and external reporting arrangements. Investors should note the leadership structure and any future disclosures on strategy or succession that may follow.