National Bankshares, Inc. (NASDAQ:NKSH) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07, Submission of Matters to a Vote of Security Holders” of the Original 8-K to provide information regarding the Board of Directors’ determination.No other changes are being made to the Original 8-K.
ITEM 5.07SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
As reported in the Original 8-K, a majority of the shares voted at the Annual Meeting on a non-binding advisory vote on the frequency of future non-binding advisory votes to approve the compensation of named executive officers voted for the Company to hold the votes on an annual basis.In light of this result and after discussion by the Board of Directors, the Board determined at its meeting on September 13, 2017 that the Company will hold annual non-binding advisory votes to approve the compensation of named executive officers until the next required non-binding advisory vote on the frequency of future non-binding advisory votes on executive compensation.
About National Bankshares, Inc. (NASDAQ:NKSH)
National Bankshares, Inc. (NBI) is a financial holding company. The Company conducts its operations through its community bank subsidiary, the National Bank of Blacksburg (NBB or the Bank). NBB offers a range of retail and commercial banking services to individuals, businesses, non-profits and local governments. NBB, which does business as National Bank, focuses lending on small and mid-sized businesses and individuals. NBB’s loan types include commercial and agricultural, commercial real estate, construction for commercial and residential properties, residential real estate, home equity and various consumer loan products. The Company’s investment portfolio includes corporate bonds. NBI’s primary source of funds is deposits. Deposit products offered by the Bank include interest-bearing and non-interest bearing demand deposit accounts, money market deposit accounts, savings accounts, certificates of deposit and individual retirement accounts.