Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 41

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 41
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 for the Company’s Ticker Symbol, CMTV. The calculation of the TSR includes reinvested dividends. |

In setting compensation for the PEO and the other
two NEO’s, the Compensation Committee considers a variety of quantitative and qualitative factors and does not directly tie its
decision making to changes in TSR or net income.

27 PROPOSAL 2 - ADVISORY VOTE ON EXECUTIVE COMPENSATION Section 14A of the Exchange Act requires that the Company provide our shareholders with the opportunity to vote periodically, on a non-binding, advisory basis, on whether to approve the compensation paid to our executive officers listed in the Summary Compensation Table (our “ Named Executive Officers”). This vote is sometimes referred to as a “say on pay” vote. At the 2019 Annual Meeting, the Company’s shareholders approved a resolution establishing a frequency of three years for future say on pay votes. Accordingly, we sought and received an advisory vote approving our executive compensation program at the 2022 Annual Meeting, and we are again requesting at this year’s Annual Meeting that the shareholders approve the compensation paid to our named executive officers. The compensation program for the Company’s Named Executive Officers is described elsewhere in this proxy statement under the captions “COMPENSATION COMMITTEE REPORT” and “EXECUTIVE COMPENSATION” in accordance with the compensation disclosure requirements of the SEC. Our executive compensation arrangements are developed and approved by the Compensation Committee of the Board, a majority of the members of which are non-employee directors and are considered independent under NASDAQ standards. The primary goal of our executive compensation program is to align the interests of the Company’s executives with those of the shareholders in order to achieve long-term growth in shareholder value. It is also designed to enable us to attract, hire and retain talented, high-performing and experienced executives. The Compensation Committee and Board periodically review our executive compensation arrangements to ensure that they continue to meet those objectives. This advisory say on pay vote gives our shareholders the opportunity to express their views on the compensation paid to our Named Executive Officers. The Board believes that our current compensation program appropriately compensates our Named Executive Officers for their significant contributions to the success of the Company and does so in a manner that does not encourage or reward inappropriate risk-taking. Accordingly, the Board asks that you approve the following resolution: Resolved, that the compensation paid to the Named Executive Officers of Community Bancorp. as disclosed pursuant to the compensation disclosure rules of the SEC, including the disclosures under the captions “EXECUTIVE COMPENSATION”