Company: COFS
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012677
Chunk: 21

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 21
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 on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons unaffiliated with the director, and (c) does not involve more than a normal risk of collectability or present other unfavorable features. Incentive-Based Compensation Recoupment Policy ChoiceOne adopted an incentive-based compensation recoupment policy as required by SEC Rule 10D-1 under the Act and the corresponding NASDAQ listing rules. Under the policy, in the event that ChoiceOne is required to prepare an accounting restatement to its financial statements due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, the policy requires the Company to recover erroneously awarded compensation that was awarded, earned, vested or paid based in whole or in part on the attainment of a financial reporting measure during the three completed fiscal years immediately preceding the date on which the Company was required to prepare an accounting restatement. The amount recoverable is the compensation paid or payable in excess of the amount that would have been paid or payable based on the restated financial results, computed without regard to any taxes paid. A copy of the Incentive-Based Compensation Recoupment Policy is available in the Investor Relations section of ChoiceOne's website at www.choiceone.bank. Insider Trading Policy Our insider trading policy prohibits any director, officer or employee of the Company and their immediate family members from trading securities while in the possession of material nonpublic information or from communicating (tipping) material nonpublic information to any other person. With respect to any director, Section 16 officer, and certain other designated employees (“Covered Persons”), the policy additionally requires such Covered Persons to obtain pre-clearance of all transactions in the Company’s securities and prohibits Covered Persons from trading during blackout periods. The policy also prohibits Covered Persons from engaging in short-term trading, short sales, options trading, trading on margin, or hedging our common stock. Board Meetings and Attendance During 2024, the ChoiceOne Board of Directors held 12 regular meetings and one special meeting. All directors attended at least 75% of the aggregate number of meetings of the Board of Directors and meetings of committees on which they served during the periods that they served. Annual Meeting Attendance ChoiceOne expects all of its directors to attend its annual meeting of shareholders. All directors attended the 2024 annual meeting. Communicating with the Board of Directors Shareholders and interested parties may communicate with members of ChoiceOne's Board of Directors by sending correspondence addressed to the board as a whole,