United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 23, 2017
UNION BANKSHARES CORPORATION
(Exact name of registrant as specified in its charter)
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Virginia | 0-20293 | 54-1598552 |
(State or other jurisdiction | (Commission | (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
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1051 East Cary Street
Suite 1200
Richmond, Virginia 23219
(Address of principal executive offices, including Zip Code)
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Registrant’s telephone number, including area code: (804) 633-5031
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ¨ |
Item 8.01 Other Events.
On October 23, 2017, Union Bank & Trust (the “Bank”), the wholly-owned banking subsidiary of Union Bankshares Corporation (the “Company”), announced that Executive Vice President and Chief Retail Officer Elizabeth M. Bentley has decided to leave the Bank effective December 31, 2017. John Stallings, President of the Bank, will lead a national search for Ms. Bentley’s replacement.
In connection with Ms. Bentley’s coming departure, the Company and the Bank entered into a Severance Agreement and Release of Claims, dated October 24, 2017, with Ms. Bentley, outlining the terms of her severance compensation and release of claims that will apply following her departure (the “Severance Agreement”). The Severance Agreement is filed as Exhibit 10.32 hereto and incorporated herein by reference.
A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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| UNION BANKSHARES CORPORATION | |
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Date: October 24, 2017 | By: | /s/ Robert M. Gorman | |
| | Robert M. Gorman | |
| | Executive Vice President and | |
| | Chief Financial Officer | |