Current Report Filing (8-k)
16 July 2021 - 2:33AM
Edgar (US Regulatory)
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0001163389
2021-07-12
2021-07-12
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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): July 12, 2021
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NEW
PEOPLES BANKSHARES, INC.
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(Exact
name of registrant as specified in its charter)
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Virginia
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00-33411
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31-1804543
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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67 Commerce Drive
Honaker, Virginia
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24260
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (276) 873-7000
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Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant
to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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None
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 5.02
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Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On July 12, 2021,
New Peoples Bankshares, Inc. (the “Company”) appointed Christopher G. Speaks as Executive Vice President, Chief Financial
Officer and Treasurer of the Company and its wholly-owned subsidiary, New Peoples Bank (the “Bank”). Mr. Speaks’s appointment
will be effective August 16, 2021, following the Company’s filing of its Quarterly Report on Form 10-Q for the quarter ended June
30, 2021, at which time John J. Boczar will be transitioning to Chief Accounting Officer and Secretary of the Company.
Mr. Speaks, age 55,
served as the Chief Financial Officer of FNS Bancshares, Inc in Scottsboro, Alabama from January 2021 until it was acquired by BancorpSouth
Bank in April 2021. Prior to that, he served as Chief Financial Officer and senior level positions, including Executive Vice President,
for Tyndall Federal Credit Union from May 2016 until January 2020. Mr. Speaks is a graduate of Furman University, Greenville, South Carolina
with a Bachelor of Arts degree in Accounting and is a Certified Public Accountant, licensed in South Carolina. He has been in the financial
services industry for 23 years serving in various roles and was in public accounting for 10 years working primarily with community banks.
There is no family relationship between Mr. Speaks and any director or executive officer of the Company or Bank.
Mr. Speaks will receive
an initial base salary of $200,000 and will be entitled to participate in compensation programs for senior executives of the Company
and other employee benefit plans for which he is eligible, including automobile allowance, health and dental insurance, group life and
long term disability options, and the Company’s 401(k) plan.
Additional information
regarding Mr. Boczar is available in the Company's proxy statement for its 2021 annual meeting of shareholders, filed with the Securities
and Exchange Commission on April 8, 2021.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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NEW PEOPLES
BANKSHARES, INC.
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Date:
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July 15,
2021
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By:
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/s/
C. TODD ASBURY
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C. Todd Asbury
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President and Chief Executive Officer
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