Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when NKSH files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsNational Bankshares extends consulting agreement with former CEO Denardo through June 2027
Filed July 1, 2026 · Period ending July 1, 2026 · ~1 min read
Key Changes
-
low
Extended consulting agreement with former CEO and current Chairman F. Brad Denardo for one year through June 30, 2027, at $6,000/month ($72,000 annually) for advisory services.
Item 5.02 verify on EDGAR → -
low
Agreement includes customary noncompetition covenants during the consulting period to protect company interests.
Item 5.02 verify on EDGAR →
Summary
National Bankshares extended its consulting arrangement with F. Brad Denardo, the company's former President and CEO who now serves as Chairman of the Board. The one-year extension runs through June 30, 2027, continuing a relationship that began in March 2025 when Mr. Denardo transitioned from his executive role.
He will receive $6,000 per month to provide consulting and advisory services to the company and its wholly-owned banking subsidiary, The National Bank of Blacksburg. This is a routine governance matter with no material impact on operations or strategy.
The modest annual cost of $72,000 preserves access to institutional knowledge from a long-tenured executive while maintaining noncompetition protections during the consulting period. For a community bank, such arrangements are common during leadership transitions to ensure continuity.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Under the terms of the Consulting Agreement, Mr. Denardo is subject to customary noncompetition covenants during the Consulting Period.
The consulting agreement includes noncompetition provisions that restrict Mr. Denardo from competing with the company during the one-year consulting period. This protects the company's interests while maintaining access to Mr. Denardo's expertise and institutional knowledge.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 6, 2026 · How we verify