Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 21

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 21
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 Moore               |         43,175 |
| Fredric Oeschger               |         43,175 |
| James G. Wheeler, Jr.          |         43,175 |

14

| (1) | Does not include (i) earnings on directors’ fees deferred under the Directors’ Deferred Compensation Plan because interest on those amounts is not accrued at a preferential (above market) rate; or (ii) certain expense reimbursements related to board service such as for mileage and expenses related to attendance at director educational conferences. |
| (2) | Retired from the board at the Annual Meeting on May 14, 2024.                                                                                                                                                                                                                                                                                                 |

Vote Required Election of a nominee for director will require the affirmative vote of a majority of the shares present at the Annual Meeting or represented by proxy at the meeting and entitled to vote. A vote to “WITHHOLD AUTHORITY” as to a nominee will have the same effect as a vote against such nominee. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FORPROPOSAL 1 TO ELECT INCUMBENT DIRECTORS LAFORCE, LAMBERTON, MARSH, MARTIN AND MOORE TO A THREE-YEAR TERM. CORPORATE GOVERNANCE Director Independence The primary responsibility of the Board of Directors is to provide objective, independent judgment in its management oversight function, and our Board’s composition, which is heavily weighted toward independent directors, reflects that principle. Although the Company’s common stock is not listed on NASDAQ, our Board uses the definition of independence contained in the NASDAQ listing standards in its annual evaluation of Board member independence. Under current NASDAQ standards, a director is considered independent if he or she is not an officer or employee of the Company or the Bank and does not have any other relationship which, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying out his or her responsibilities as a director. Under NASDAQ standards, a director of the Company is not considered independent if he or she:

| ● | has been employed in any capacity by the Company or the Bank during the past three years; |

| ● | has accepted, or has a close family member who accepted, any payments from the Company or the Bank in 
 excess of $120,000 in any consecutive twelve-month period during the last three years, except for     |

| ● | payments relating to ordinary loan or deposit relationships with the Bank |

| ● | compensation for Board service |

| ● | compensation paid to a close