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: April 2,
2015
(Date of earliest event
reported)
VIRGINIA NATIONAL BANKSHARES
CORPORATION
(Exact name of registrant
as specified in its charter)
| Virginia | 000-55117 | 46-2331578 |
| (State or other jurisdiction of | (Commission | (I.R.S. Employer |
| incorporation) | File Number) | Identification No.) |
404 People
Place
Charlottesville, Virginia
22911
(Address of principal executive
offices) (Zip Code)
(434)
817-8621
(Registrant’s telephone
number, including area code)
Not
Applicable
(Former name or former
address, if changed since last report)
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 (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Virginia National Bankshares Corporation (the “Company”) and Ronald E. Baron mutually agreed to terminate Mr. Baron’s employment effective April 2, 2015. Mr. Baron served as Chief Financial Officer of the Company and its bank affiliates, Virginia National Bank and VNBTrust, N.A. The Company and Mr. Baron have entered into a salary continuation agreement and release, subject to Mr. Baron’s seven-day statutory revocation right, under which Mr. Baron will receive salary continuation payments for up to six months. The Company has commenced a search for a new Chief Financial Officer.
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.
| VIRGINIA NATIONAL BANKSHARES CORPORATION | |||
| Dated: | April 8, 2015 | By: /s/ | Glenn W. Rust |
| Glenn W. Rust | |||
| President and Chief Executive Officer | |||