Virginia National Bankshares grants CFO change-in-control agreement with 2x severance

Filed May 15, 2026 · Period ending May 11, 2026 · ~1 min read

Key Changes

• medium

  CFO Cathy Liles received a change-in-control agreement guaranteeing two years employment post-acquisition and 2x salary plus bonus severance if terminated without cause within six months before or during that period.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• low

  Liles's base salary increased to $375,000 annually, though the prior salary level was not disclosed.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• low

  Severance benefits include a cutback provision to avoid golden parachute excise taxes under Section 4999.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →