HILLS BANCORPORATION 8-K

What Happened Hills Bancorporation (OTCID: HBIA) announced that its Board approved a two-for-one (2-for-1) stock split of its common stock. Shareholders of record as of the close of business on June 1, 2026 will receive one additional share for each share held, with the additional shares distributed on June 8, 2026. Lisa A. Shileny, President and CEO, said the split reflects the Board’s confidence in the company’s continued strength and growth.

Key Details

• Record date: June 1, 2026; distribution date: June 8, 2026.
• Authorized common shares will increase from 20,000,000 to 40,000,000 (no par value).
• All newly issued shares will be book-entry only; no physical certificates. Computershare (transfer agent) will send statements showing increases.
• Outstanding equity awards (options and restricted stock) will be proportionally adjusted: number of shares doubled; option exercise prices halved.
• The Company will file Articles of Amendment with the Iowa Secretary of State to effect the split.

Why It Matters A 2-for-1 stock split increases the number of shares outstanding and lowers the per-share price, which can improve share liquidity and make the stock more accessible to smaller investors without changing shareholders’ proportional ownership or the company’s market capitalization. Investors do not need to take any action to receive the additional shares.