NATIONAL BANKSHARES INC 8-K

What Happened
National Bankshares, Inc. (and its banking subsidiary, The National Bank of Blacksburg) filed an 8-K announcing a consulting agreement with F. Brad Denardo, who is Chairman of the Board and the former President and Chief Executive Officer. The Consulting Agreement is effective July 1, 2026 and runs through June 30, 2027, extending a prior consulting arrangement that began March 31, 2025.

Key Details

• Agreement parties: National Bankshares, The National Bank of Blacksburg, and F. Brad Denardo.
• Term: July 1, 2026 – June 30, 2027 (the Consulting Period); may be extended by agreement.
• Fee: $6,000 per month during the Consulting Period.
• Restrictions: Mr. Denardo is subject to customary noncompetition covenants during the Consulting Period.
• Filing note: A copy of the Consulting Agreement will be filed as an exhibit to the Company’s Form 10-Q for the quarter ended June 30, 2026.

Why It Matters
This filing confirms the company has secured ongoing advisory services from its former CEO and current chairman, which can support leadership continuity and institutional knowledge during the post-CEO transition. The cash cost is modest ($6,000/month), and noncompetition terms may limit Mr. Denardo’s ability to work with competitors while consulting. Investors should watch the upcoming Form 10-Q exhibit for the full agreement text and any additional terms.