Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 42

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 42
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 and “COMPENSATION COMMITTEE REPORT” in the 2025 Annual Meeting proxy statement of Community Bancorp., is hereby approved. Vote Required Approval of the nonbinding vote on the compensation of the Named Executive Officers will require that more votes be cast “FOR” than “AGAINST” the proposal. Although your vote is advisory and will not be binding on the Board of Directors or the Compensation Committee, the Board and Committee will take into account the outcome of the vote when considering future executive compensation arrangements. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FORPROPOSAL 2. PROPOSAL 3- ADVISORY VOTE ON FREQUENCY OF FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION Section 14A of the Exchange Act requires that our shareholders be given the opportunity at least every six years to vote on a non-binding, advisory basis, to express their preference as to how frequently we should seek future advisory votes on the compensation of our Named Executive Officers (a “say on frequency” vote). In voting on Proposal 3, shareholders may indicate whether they would prefer that we conduct future “say-on-pay” advisory votes every one, two, or three years. In 2013 and again in 2019, our shareholders approved a frequency of once every three years. As it did with previous say on frequency votes, our Board of Directors has again determined that an advisory vote on executive compensation that occurs once every three yearsis the most appropriate alternative for us, and therefore our Board recommends that you vote for a three-yearfrequency on Proposal 3. In determining to recommend that shareholders vote for a frequency of once every three years, the Board considered how an advisory vote at this frequency would provide our shareholders with sufficient time to evaluate the effectiveness of our overall compensation philosophy, policies and practices in the context of our long-term business results for the corresponding period, while avoiding over-emphasis on short-term variations in compensation and business results. An advisory vote occurring once every three years will also permit our shareholders to observe and evaluate the impact of any changes to our executive compensation policies and practices that may have occurred since the last advisory vote on executive compensation, including changes made in response to the outcome of a prior advisory vote on executive compensation. 28 This shareholder vote on the frequency of future advisory votes on executive compensation (“say-on frequency” vote) is advisory and not binding on the Board or the Company. Whether or not the shareholders follow the Board’s recommendation to approve a three year frequency, the Board may in