F&M Bank Corp Director Retires; Board Increases Stock Plan Shares

What Happened
F&M Bank Corp (FMBM) filed an 8-K on September 28, 2026 disclosing that director Michael W. Pugh retired effective September 24, 2026 upon reaching the mandatory retirement age in the company's bylaws. On the same date, the Board approved amendments increasing the share pools for the company's equity incentive plans.

Key Details

• Michael W. Pugh retired from the Board of Directors effective September 24, 2026.
• The F&M Bank Corp 2020 Stock Incentive Plan was amended to raise the available shares for awards from 200,000 to 500,000.
• The 2023 Directors Stock Incentive Plan was amended to raise the available shares for awards from 25,000 to 100,000.
• The plan amendment texts are filed as Exhibits 10.1 and 10.2 to the 8-K.

Why It Matters
These changes are material for shareholders because increasing the number of shares available under the company’s stock incentive plans creates capacity for future equity awards to employees and directors, which can affect share dilution and executive/director compensation over time. The filing also confirms a director transition (retirement under the bylaws); the 8-K does not report any officer resignations or new executive appointments. Investors tracking board composition or potential dilution from equity grants should note these updates.