DEFA14A: Rhinebeck Bancorp Corrects Director Term Information in Proxy Statement
Proxy Statement Errata Sheet
Rhinebeck Bancorp issues an errata sheet clarifying the term length for one of its director nominees in the proxy statement for the 2024 annual meeting.
Summary
- Rhinebeck Bancorp issued an errata sheet to its proxy statement for the 2024 annual meeting of stockholders.
- The correction concerns the term length for director nominee Frederick L. Battenfeld.
- The original proxy statement indicated all three nominated directors would be elected for a three-year term.
- However, Battenfeld has been nominated for a one-year term, consistent with the company's age limitation provision.
- Christopher W. Chestney and Shannon Martin LaFrance are nominated for three-year terms expiring in 2027.
- The Board of Directors unanimously recommends a vote FOR each of the nominees.
Sentiment
Score: 7
Explanation: The document is a neutral correction of information, indicating attention to detail and transparency, which is viewed positively.
Management Comments
- The Board of Directors unanimously recommends a vote FOR each of the nominees for director.
Industry Context
This announcement is a routine correction to a proxy statement, a common occurrence in corporate governance.
Stakeholder Impact
- Shareholders are provided with corrected information for informed voting decisions.
Key Dates
| Date | Description |
|---|---|
| April 15, 2024 | Approximate date the original proxy statement was mailed. |
| April 18, 2024 | Date of the errata sheet filing. |
| 2025 | Next annual meeting of stockholders, when Battenfeld's term expires if elected. |
| 2027 | Annual meeting of stockholders when Chestney and LaFrance's terms expire if elected. |
Keywords
Rhinebeck Bancorp, proxy statement, director election, annual meeting, corporate governance
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