First Busey Corporation (NASDAQ:BUSE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 28, 2018, upon the recommendation of the Nominating & Corporate Governance Committee (the "Nominating Committee"), the Board of Directors (the"Board") of First Busey Corporation (the"Company" or "Busey") announced the nominations for directors for election at the Company's 2018 Annual Meeting of Stockholders (the "2018 Annual Meeting").
Over the past several years, the Board and the Nominating Committee have discussed and planned for director succession. Current directors E. Phillips Knox, V. B. Leister, Jr., Jon D. Stewart and Phyllis M. Wise expressed they will retire from the Board, effective at the conclusion of the 2018 Annual Meeting. Since they are retiring from the Board, they were not re-nominated for election. With more than 90 years of combined service to Busey, the Board thanks these directors for their significant contributions to the Busey organization. Subsequently, the Board has nominated, upon the recommendation of the Nominating Committee, two new individuals for election at the 2018 Annual Meeting, Frederic L. Kenney and Elisabeth M. Kimmel. Additionally, directors David J. Downey, August C. Meyer, Jr. and George T. Shapland have indicated, if elected at the 2018 Annual Meeting, that it is their current intention to retire from the Board effective at the conclusion of the 2019 Annual Meeting of Stockholders.
Mr. Kenney is the Associate General Counsel for Litigation for Archer Daniels Midland Company and has served on the board of directors of Busey Bank since 2007. Ms. Kimmel, an attorney, is Owner, President and Chief Executive Officer of Midwest Television, Inc. and a significant stockholder of the Company. In addition to these two individuals, the Board re-nominated the following sitting directors for election at the 2018 Annual Meeting: Joseph M. Ambrose, George Barr, Stanley J. Bradshaw, David J. Downey, Van A. Dukeman, Stephen V. King, Gregory B. Lykins, August C. Meyer, Jr., George T. Shapland and Thomas G. Sloan. Additional information about the nominees will be included in the Company's Proxy Statement for the 2018 Annual Meeting.
About First Busey Corporation (NASDAQ:BUSE)
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking operating segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, through its branch in Indianapolis, Indiana, and through its branch network in southwest Florida. The Remittance Processing segment provides for online bill payments, lockbox and walk-in payments. The Wealth Management segment provides a range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services, and farm and brokerage services.
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