Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 12

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 12
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 the 401(k) Plan. |

In addition, as of March 26, 2025, 721,283 shares, or 12.89% of the Company’s issued and outstanding common stock were held in fiduciary or custodial capacity by the Company’s affiliated trust and investment management company, Community Financial Services Group, LLC ( “CFSG”) for various beneficial owners, including 462,749 shares, or 8.27%, held on behalf of the 401(k) Plan Trustees and participants. Participants in the Company stock fund under the 401(k) Plan, including the Company’s executive officers, have the right to vote their proportionate share of the stock held in the fund. The 401(k) Plan Trustees do not generally vote shares of the Company’s common stock unless instructions are received from the participants. Similarly, CFSG does not vote shares of the Company’s common stock held in fiduciary capacity unless voting instructions are received from the beneficial owner. Except as set forth above, the Company is not aware of any individual, group, corporation or other entity owning beneficially more than 5% of the Company’s outstanding common stock, its only class of voting securities. The Company has no other authorized class of voting securities. The Company has outstanding 15 shares of Series A preferred stock, which are nonvoting except in very limited circumstances affecting the rights of the holders of such shares. In 2021, the Board of Directors adopted stock ownership guidelines for directors. See “CORPORATE GOVERNANCE—Stock Ownership Guidelines for Directors.” Delinquent Section 16(a) Reports Section 16(a) of the Securities Exchange Act of 1934, (the “ Exchange Act”) requires the Company’s executive officers and directors to timely file electronically with the SEC reports of their ownership of the Company’s equity securities and changes in such ownership. The Company has reviewed the Section 16 reports filed electronically by the directors and executive officers, or written representations from them that no Form 5 reports were required to be filed for 2024. Based solely on such review and except as otherwise disclosed in the next sentence, the Company believes that all Section 16 filing requirements applicable to its executive officers and directors for 2024 were timely complied with. During 2024, one Form 4 report for Director Moore, relating to Company common stock beneficially owned 8 by his partner and one Form 4 report for Director Laforce relating to purchases of Company common stock by him were not filed timely within two