Company: EMYB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001449794-25-000004
Chunk: 38

Company: Embassy Bancorp, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 38
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 unanimously recommends that you vote “ AGAINST ” the shareholder proposal. The Proponent has advised the Company that he is the beneficial owner of 13,000 shares of Company common stock, representing less than 0.2% of the Company’s outstanding shares. Information regarding Proponent’s name and address will be furnished upon receipt by the Corporate Secretary of an oral or written request for that information. The Proponent’s proposal contains assertions about the Company and other matters that the Company believes are incorrect. All statements contained in the shareholder proposal and supporting statement are the sole responsibility of the Proponent and the Company disclaims responsibility for the content of the proposal and the supporting statement. Our Board of Directors unanimously recommends that you vote “ AGAINST ” the following proposal. Stockholder Proposal RESOLVED that the shareholders of Embassy Bancorp, Inc (“EMYB”) hereby recommend that the Board of Directors take all necessary steps to promptly sell Embassy Bancorp, Inc. Supporting Statement The Stockholder believes Embassy's assets would be worth more to an acquirer than Embassy is likely to achieve on its own in the market. The bank's under performance is evidenced by its 0.61% Return on Assets. The Company's recent subpar returns have been caused by poor matching of asset/liability durations which an acquirer could easily rectify. Potential cost saves could also be achieved. For example, the costs of the corporate headquarters which is rented from Red Bird Associates, (owned by Embassy's officers and directors) could be reduced or eliminated. In 2023, the rental expense was $624,971. It should be noted that Northampton County has assessed the property at $2,204,600-several hundred thousand dollars less than the value of the 5 year lease. Shareholders are concerned that there is a potential conflict of interest that might interfere with the need for an immediate sale versus the desire of Red Bird whose interests would be to wait until the five year lease renews on March 1, 2027. EMYB stockholders would be best served if the company and its assets were sold as soon as possible for the best available price. Please vote FOR this proposal.

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Board of Directors Statement in Opposition The board of directors unanimously recommends a vote “ AGAINST ” the shareholder proposal for the following reasons:  A sale of the Company “as soon as possible” would not be in the best interests of the Company or its shareholders.  While the Company’s (and many other community banks’)