HILLS BANCORPORATION 8-K

What Happened
HILLS BANCORPORATION (HBIA) announced on May 18, 2026 (Form 8-K) that its Board of Directors approved an amendment to the Company’s Bylaws, effective May 12, 2026. The amendment adds a new Section 1 to Article VI addressing the issuance of paper stock certificates and establishes uncertificated book‑entry registration as the default form of share ownership. The Board also authorized a restatement of the Bylaws to incorporate the amendment. The amendment text is filed as Exhibit 3.1. The report was signed by Lisa A. Shileny, Director, President and CEO.

Key Details

• Board approval and effective date: May 12, 2026; Form 8-K filed May 18, 2026.
• Amendment: new Section 1 to Article VI concerning issuance of paper certificates.
• Default ownership form: uncertificated book‑entry registration (paper certificates remain permissible).
• Restatement: Board authorized restatement of the Bylaws to reflect the amendment; amendment text attached as Exhibit 3.1.

Why It Matters
This is a corporate governance update that standardizes how the company records share ownership, making electronic (book‑entry) registration the default while still allowing paper certificates. For investors, this typically simplifies share transfers and recordkeeping and aligns with common market practices; the filing does not disclose any financial impact or changes to capital structure or executive roles. Shareholders should note the change in bylaws for administrative and proxy‑related matters, but there are no operational or management changes reported in this filing.