CHEMUNG FINANCIAL CORPORATION (NASDAQ:CHMG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02
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Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers |
On December 21, 2016, the Board of Directors of Chemung Financial
Corporation (the Corporation) appointed Anders M. Tomson,
President and Chief Executive Officer of the Corporation and its
banking subsidiary, Chemung Canal Trust Company (the Bank). The
transition had been previously announced in the Corporations Form
8-K, filed with the Securities and Exchange Commission on May 13,
2016. Tomson replaces Ronald M. Bentley who retired as Chief
Executive Officer. Mr. Bentley will continue to serve as a
director of the Corporation and the Bank.
In addition, on December 21, 2016, the Board of Directors of the
Bank approved continuing Mr. Bentleys employment as a part-time
employee for calendar year 2017 to serve as an advisor to the
Corporation. Mr. Bentley will receive an annual salary of
$50,000, a company owned vehicle and reimbursement for other
reasonable business expenses. Mr. Bentley will not be entitled to
participate in any benefit plans except certain health plan
benefits.
The press release for the appointment of Mr. Tomson is furnished
as Exhibit 99.1 to this report.
| ITEM 5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year |
On December 21, 2016, the Board of Directors of Chemung Financial
Corporation approved an amendment to Article III, Section 3 of
the Amended and Restated Bylaws of Chemung Financial Corporation
increasing the number of board members from twelve (12) to
thirteen (13).
| ITEM 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits | |
| Exhibit No. | ||
| 3.1 |
Amended and Restated Bylaws of Chemung Financial Corporation, as amended to December 21, 2016. |
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| 99.1 |
Press Release of Chemung Financial Corporation dated December 22, 2016. |
About CHEMUNG FINANCIAL CORPORATION (NASDAQ:CHMG)