KENNETH D. GIBBONS - Corporate Board Profile

UNION BANKSHARES INC

Filing Date	Source Excerpt
2001-04-12	Kenneth D. Gibbons, 54(1)(2) 1989 President, Chief Executive Officer and Director - Union Bankshares, Inc. and Union Bank Morrisville, VT Directors of the Company (including directors who are employees of Union Bank or Citizens) receive an annual retainer of $5,690 for service on the Company's Board of Directors, but do not receive any per meeting or committee meeting fees. Each non-employee Director of the Company also receives fees for his service as a director of Union Bank or Citizens. Non-employee directors of Union Bank receive an annual retainer of $4,390 and a per meeting fee of $434, but do not receive any additional fees for attendance at committee meetings. Mr. Gibbons and Ms. Borck are not separately compensated for their service as directors of Union Bank, but each receives an annual payment of $7,500 from the Company for service on the Board of Citizens. The following table shows annual compensation for services rendered in all capacities to the Company and its subsidiaries during each of the preceding three years, paid to each executive officer of the Company whose total salary and bonus in 2000 exceeded $100,000: Kenneth D. Gibbons, 2000 $145,000 $32,753 0 $18,431 The total for Mr. Gibbons includes Union Bankshares directors' fees (2000-$5,690; 1999-$5,472; and 1998-$5,262); and matching employer contributions under the Company's 401(k) plan (2000-$5,241; 1999-$4,866; and 1998-$4,759). Mr. Gibbons also has the use of a bank-owned automobile, which is not reflected in the table. Mr. Gibbons also received $7,500 from the Company in 2000 for services on Citizens' Board.
2002-04-16	Kenneth D. Gibbons, 55 (1)(2) 1989 President, Chief Executive Officer and Director, Union Bankshares, Inc. and Union Bank During 2001, non-employee directors of Citizens received a per meeting fee of $435 but did not receive an annual retainer or any additional fees for attendance at committee meetings. Mr. Rowe is not separately compensated for his services as a director of Citizens. Beginning in 2002 Mr. Gibbons and Ms. Borck, who are employees of Union Bank but not Citizens, will receive per meeting directors fees for their service on the Board of Citizens at the same rate paid to non-employee directors. In January 2001, President and CEO Kenneth Gibbons met with the Board of Directors of Union Bank for his annual performance review. (The Company's Compensation Committee was formed later in the year.) At that time Mr. Gibbons' salary was increased from $145,000 to $162,650, representing an increase of approximately 12%, including a 7% increase in base salary for all employees as a result of a change in the discretionary bonus plan. Additionally, in July Mr. Gibbons was awarded a discretionary cash bonus of 1% of the net income earned by Union Bank in the first six months of 2001 ($19,560). Consistent with the Union Bank Board's practice in prior years, this discretionary 1% bonus was paid only to Mr. Gibbons in light of his unique role as President and CEO of the Company and Union Bank. Mr. Gibbons also participates in the Union Bank-wide discretionary cash bonus program in which all employees receive a percentage of their base salary as determined by the Board of Directors of Union Bank. For 2001 this amounted to 3% paid in November to employees of Union Bank, including Mr. Gibbons and other senior executives. This percentage was significantly less than the percentage paid in prior years to Mr. Gibbons and other eligible employees, reflecting the across-the-board, one-time 7% increase in base salaries for all employees. The Committee also awarded Mr. Gibbons an option under the Company's Incentive Stock Option Plan to purchase 2,000 shares of Company stock at $19 a share. That award represented approximately two-thirds of the total of 3,000 options awarded under the Plan in 2001 to the three executive officer participants. The following table shows annual compensation for services rendered in all capacities to the Company and its subsidiaries during each of the preceding three years, paid to each executive officer of the Company whose total salary and bonus in 2001 exceeded $100,000: Summary Compensation Table Long Term Compensation Annual Compensation --------------------- Name and Securities ----------------------------- Underlying All Other Principal Position Year Salary Bonus Options/SARs (1) Compensation (2)(3) ------------------ ---- ------ ----- --------------------- ------------------- Kenneth D. Gibbons, 2001 $162,650 $24,374 2,000 shs. $18,706 Directors of the Company (including directors who are employees of Union Bank or Citizens) receive an annual retainer of $5,946 for service on the Company's Board of Directors, but do not receive any per meeting or committee meeting fees.
2003-04-18	Kenneth D. Gibbons, 56 (1)(2) 1989 President and Chief Executive Officer Union Bankshares, Inc. and Union Bank Morrisville, VT
2004-04-19	Kenneth D. Gibbons, 57 1989 President and Chief Executive Officer- Union Bankshares, Inc. and Union Bank Morrisville, VT Directors of the Company, including Mr. Gibbons and Ms. Borck, who are employees of Union Bank, receive an annual retainer of $6,432 for service on the Company's Board of Directors, but do not receive any per meeting fees. During 2003, Mr. Gibbons and Ms. Borck were not separately compensated for their service as directors of Union Bank. However, both of them did receive fees for serving as directors of the Company's former subsidiary, Citizens Savings Bank and Trust Company ("Citizens") prior to its merger with Union Bank in May, 2003. All director fees paid to Mr. Gibbons and Ms. Borck are disclosed in the summary compensation table and footnotes set forth elsewhere in this proxy statement under the caption "EXECUTIVE COMPENSATION - Summary Compensation Table." The independent directors who serve on the Compensation and Audit Committees of the Company are paid annual retainers for their service on the respective committees. Committee members are paid $1,000 annually while the Chairs are paid $1,500 annually. ... Mr. Gibbons' and Ms. Borck's totals include directors fees, as follows: Union Bankshares - for each of Mr. Gibbons and Ms. Borck, 2003-$6,432; 2002-$6,184; and 2001-$5,946. Citizens - Mr. Gibbons, 2003-$1,470; 2002-$11,755; and 2001-$7,500. Ms. Borck, 2003-$4,898; 2002-$11,755; and 2001-$7,500. Mr. Gibbons also has use of a bank- owned automobile, which is not reflected in the table.
2005-04-18	Kenneth D. Gibbons, 58 1989 President and Chief Executive Officer-Union Bankshares, Inc. and Union Bank
2006-04-14	Kenneth D. Gibbons, 59 1989 President and Chief Executive Officer, Union Bankshares, Inc. and Union Bank During 2005, Mr. Gibbons and Ms. Borck, who are full-time employees of the Bank, served as directors of both the Company and Union Bank, and received the annual retainer fee for serving on the Company's Board. Mr. Gibbons and Ms. Borck were not separately compensated for their service as directors of Union Bank nor, in the case of Ms. Borck, for her service as a member of the Bank's Trust Committee. All Company director fees paid to Mr. Gibbons and Ms. Borck are disclosed in the summary compensation table and footnotes contained elsewhere in this proxy statement under the caption "EXECUTIVE COMPENSATION--Summary Compensation Table."
2007-04-13	Kenneth D. Gibbons, 60, President and Chief Executive Officer- Union Bankshares, Inc. and Union Bank Morrisville, VT
2008-04-18	Kenneth D. Gibbons, 61, President and Chief Executive Officer-Union Bankshares, Inc. and Union Bank. 2007 Summary Compensation Table shows total compensation of $300,741.
2009-04-17	During 2008, Mr. Gibbons, who is a full-time employee of the Bank, served as a director of both the Company and Union Bank, and received the annual retainer fee for serving on the Companys Board. Mr. Gibbons was not separately compensated for his service as a director of Union Bank. All Company director fees paid to Mr. Gibbons are disclosed in the Summary Compensation Table and footnotes contained elsewhere in this proxy statement under the caption EXECUTIVE COMPENSATION2008 Summary Compensation Table.
2010-04-14	Kenneth D. Gibbons has been President and CEO of the Company and Union since 1991. He joined the Companys Board in 1989. During 2009, Mr. Gibbons, who is a full-time employee of the Bank, served as a Director of both the Company and Union Bank, and received the annual retainer fee for serving on the Companys Board. All Company director fees paid to Mr. Gibbons are disclosed in the Summary Compensation Table. 2009 Summary Compensation Table shows total compensation of $263,063.
2011-04-15	Kenneth Gibbons has served as CEO and, prior to April 1, 2011, also as President, of both the Company and Union since 1991. ... Ken joined the Company's Board in 1989, and serves on Union's Pension Committee and all three of Union's local Advisory Boards.
2012-04-13	Ken, who will step down as CEO at the 2012 annual meeting, has served as Chairman of the Board since the 2011 annual meeting. ... Ken joined the Company's Board in 1989, and serves on Union's Pension Committee. ... Mr. Gibbons was not separately compensated for his service as a Director or Chairman of Union, as a member of Union's Advisory Boards or as a member of a Union committee. All Company director fees paid to Mr. Gibbons are disclosed in the Summary Compensation Table.
2013-04-12	Kenneth Gibbons has served as Chairman of the Board since 2011. He serves on Union's Pension Committee. Director fees earned by Mr. Gibbons during 2012 are disclosed in the 2012 Summary Compensation table. 2012 Summary Compensation Table shows total compensation of $190,846.
2014-04-15	Ken joined the Company's Board in 1989, and serves on Union's Pension Committee. ... Mr. Gibbons also received an additional retainer of $1,545 for his service as Chairman of the Company’s Board throughout 2013. ... The following table lists the annual compensation paid to or earned during 2013 by the Company's nonemployee directors for service on the Boards of the Company and the Bank: ... Kenneth D. Gibbons $36,340 total compensation.
2015-04-07	Kenneth Gibbons has served as Chairman of the Board since the 2011 annual meeting and served as President of both the Company and Union from 1991 until April 1, 2011 and as CEO of the Company and Union until his retirement at the 2012 annual meeting. Ken's banking career began in 1965 in Massachusetts and he has worked in all areas of banking during the intervening years. In 1975, he moved to Vermont and joined Union in 1984 as Vice President of Commercial Lending. Ken has served on many committees of the VBA and is a past VBA Chair. He has also been actively involved with the American Bankers Association and is a former member of the board of directors of the Independent Community Bankers of America (ICBA). Ken has been very active in numerous civic organizations and currently serves on the board of the Vermont Educational and Health Buildings Finance Agency, the Lamoille Region Chamber of Commerce, and Sterling College, and on the finance committee of Copley Hospital. Ken's expertise in the community banking field and his leadership and strategic planning skills and his long tenure with the Company add valuable depth and strength to the Board. Ken joined the Company's Board in 1989, and serves on Union's Pension Committee.
2016-04-07	Kenneth Gibbons has served as Chairman of the Board since the 2011 annual meeting and served as President of both the Company and Union from 1991 until April 1, 2011 and as CEO of the Company and Union from until his retirement at the 2012 annual meeting. Ken's banking career began in 1965 in Massachusetts and he has worked in all areas of banking during the intervening years. In 1975, he moved to Vermont and joined Union in 1984 as Vice President of Commercial Lending. Ken has served on many committees of the Vermont Bankers Association (VBA) and is a past VBA Chair. He has also been actively involved with the American Bankers Association and is a former member of the board of directors of the Independent Community Bankers of America (ICBA). Ken has been very active in numerous civic organizations and currently serves on the board of the Vermont Educational and Health Buildings Finance Agency, the Lamoille Region Chamber of Commerce, and Sterling College, and on the finance committee of Copley Hospital. Ken's expertise in the community banking field and his leadership and strategic planning skills and his long tenure with the Company add valuable depth and strength to the Board. Ken joined the Company's Board in 1989, and serves on Union's Pension Committee.
2017-04-10	Kenneth Gibbons has served as Chairman of the Board since the 2011 annual meeting and served as President of both the Company and Union from 1991 until April 1, 2011 and as CEO of the Company and Union until his retirement at the 2012 annual meeting. Ken joined the Company's Board in 1989, and serves on Union's Pension Committee. 2016 Director Compensation Table: Kenneth D. Gibbons $40,225.
2018-04-09	Kenneth Gibbons has served as Chairman of the Board since the 2011 annual meeting and served as President of both the Company and Union from 1991 until April 1, 2011 and as CEO of the Company and Union until his retirement at the 2012 annual meeting. Ken's banking career began in 1965 in Massachusetts and he has worked in all areas of banking during the intervening years. In 1975, he moved to Vermont and joined Union in 1984 as Vice President of Commercial Lending. Ken has served on many committees of the Vermont Bankers Association (VBA) and is a past VBA Chair. He has also been actively involved with the American Bankers Association and is a former member of the Board of Directors of the Independent Community Bankers of America (ICBA). Ken has been very active in numerous civic organizations and currently serves on the boards of the VEHBFA, the finance committee of Copley Hospital, and is currently the Vice Chair of the Sterling College Board of Trustees. Ken's expertise in the community banking field and his leadership and strategic planning skills, as well as, his long tenure with the Company, add valuable depth and strength to the Board. Ken joined the Company's Board in 1989, and serves on Union's Pension Committee.