Ohio Valley Banc Corporation
12/17/2024 | Press release | Distributed by Public on 12/17/2024 15:00
Management Change/Compensation Form 8 K
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On December 11, 2024, Thomas E. Wiseman notified Ohio Valley Banc Corp. (the "Company") of his intention to retire from his position as an executive officer of the Company and The Ohio Valley Bank Company (the "Bank"), effective January 1, 2025. Mr. Wiseman will remain in the position of non-executive Chairman of the Board Directors of the Company (the "Board"), where he will serve at the discretion of the Board.
In his new role as non-executive Chairman, Mr. Wiseman will remain a non-voting member of the Audit and Enterprise Risk Committees of the Board of the Company. In addition, Mr. Wiseman will remain a voting member of the Executive Committee of the Company and the Bank.
Mr. Wiseman will receive annual compensation of $259,284 in cash for serving as the Chairman and as a non-executive employee, in addition to being eligible for all employee director compensation.