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COMMUNITY BANCORP VT

For the period ended May 14, 2024. Filed Apr 3, 2024.

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About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

May 14, 2024 · Filed Apr 3, 2024

CMTV$47.00+0.5%Stored close · as of Nov 6, 2026
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DEF 14A 1 ea0202380-def14a_community.htm DEFINITIVE PROXY STATEMENT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No. )

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material under §240.14a-12

Community Bancorp /VT

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11

April 3, 2024

Dear Fellow Shareholders:

Please join us for the Annual Meeting of the Shareholders of Community Bancorp., which will be held at 2:00 p.m. Eastern Time at The East Side Restaurant in Newport, Vermont on Tuesday, May 14, 2024. Light hors d’oeuvres will be served.

Accompanying this letter for your review are our proxy materials for the meeting and our Annual Report for 2023.

At the meeting, you will be asked to vote on the following items:

Election of five directors to a three-year term expiring in 2027; and

Ratification of BerryDunn as the Company’s external auditors for 2024.

Your participation in the voting is important. Please be sure to vote your proxy promptly so that your shares will be represented and can be voted at the meeting whether or not you are present in person. You may vote your shares via the internet, by telephone (toll free), or by requesting a proxy card and returning it by mail. You may withdraw your proxy and vote in person at the meeting if you choose to do so.

If you hold your shares through a broker, please note that under current brokerage industry rules you must furnish voting instructions to your broker in order for your shares to be voted in the election of directors (Proposal 1).

Thank you for your continued support of Community Bancorp. I look forward to seeing you at the annual meeting.

Sincerely,

Kathryn M. Austin

President & CEO

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

TO BE HELD ON MAY 14, 2024

The annual meeting of shareholders of Community Bancorp. will be held at The East Side Restaurant, 47 Landing Street, in Newport, Vermont, 05855 on Tuesday, May 14, 2024 at 2:00 p.m. Eastern Time, for the following purposes:

1.To elect five directors to the class whose term will expire at the 2027 annual meeting of shareholders; and
2.To ratify the selection of the independent registered public accounting firm of BerryDunn as the Company’s external auditor for the fiscal year ending December 31, 2024.

The close of business on March 20, 2024, has been fixed as the record date for determining holders of the Company’s common stock entitled to notice of, and to vote at, the annual meeting.

IMPORTANT NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS FOR THE 2024 ANNUAL SHAREHOLDERS MEETING

This proxy statement, the proxy card and our Annual Report to Shareholders for the year ended December 31, 2023 are available on the internet and may be accessed atwww.envisionreports.com/CMTV.

By Order of the Board of Directors,

Louise Bonvechio

Corporate Secretary

Derby, Vermont

April 3, 2024

PLEASE SUBMIT YOUR PROXY PROMPTLY BY FOLLOWING THE INSTRUCTIONS ON THE CARD TO VOTE YOUR SHARES VIA THE INTERNET, BY TELEPHONE (TOLL FREE), OR BY MAIL, WHETHER OR NOT YOU PLAN TO BE PRESENT AT THE MEETING. YOU MAY STILL VOTE IN PERSON IF YOU ATTEND THE MEETING AND CHOOSE TO REVOKE YOUR PROXY AND VOTE BY BALLOT. IT IS IMPORTANT THAT YOU VOTE YOUR SHARES BY SUBMITTING YOUR COMPLETED PROXY PROMPTLY.

PROXY STATEMENT INDEX

GENERAL INFORMATION ABOUT THE MEETING AND VOTING1
SHARE OWNERSHIP INFORMATION5
Delinquent Section 16(a) Reports6
PROPOSAL 1 - ELECTION OF DIRECTORS6
Continuing Director and Nominee Qualifications8
Directors’ Fees and Other Compensation11
Directors’ Deferred Compensation Plan11
Directors’ Retirement Plan12
Director Compensation Table12
Vote Required12
CORPORATE GOVERNANCE13
Director Independence13
Board Leadership Structure and Risk Oversight13
Board and Shareholder Meeting Attendance14
Board Committees14
Committee Assignments for 202416
Shareholder Communications with the Board17
Director Stock Ownership Guidelines17
Code of Conduct and Ethics17
Securities Hedging17
Insider Trading Policy17
Transactions with Related Persons and Certain Other Directorships17
AUDIT COMMITTEE REPORT18
EXECUTIVE OFFICERS19
Executive Officer Qualifications19
COMPENSATION COMMITTEE REPORT19
EXECUTIVE COMPENSATION20
Executive Compensation Program Objectives and Risk Management Considerations20
Summary Compensation Table21
Officer Incentive Plan22
Retirement Savings Plan23
Perquisites and Other Personal Benefits24
Health and Welfare Benefits24
Change in Control Agreements24
ADDITIONAL PAY VERSUS PERFORMANCE INFORMATION25
PROPOSAL 2 - RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS26
Pre-Approval Required for Services of Independent Auditors26
Fees Paid to Independent Auditors26
Vote Required27
SHAREHOLDER NOMINATIONS AND OTHER PROPOSALS27
Bylaw Requirements for Shareholder Nominations and Other Proposals27
Use of Discretionary Authority in Connection with Shareholder Nominations and Proposals28
Inclusion of Shareholder Proposals in Company Proxy Materials28
OTHER MATTERS28
VOTING QUESTIONS OR OTHER SHAREHOLDER ASSISTANCE28

PROXY STATEMENT

ANNUAL MEETING OF SHAREHOLDERS

May 14, 2024

This proxy statement is furnished to our shareholders in connection with the solicitation of proxies by the Board of Directors of Community Bancorp. (the**“Company,” “we,” “our”** or**“us”**) for use at the annual meeting of shareholders and at any postponements or adjournments of that meeting. The annual meeting will be held on Tuesday, May 14, 2024, at 2:00 p.m. Eastern Time at The East Side Restaurant, 47 Landing Street, in Newport, Vermont. This proxy statement and related proxy card are first being made available to our shareholders on or about April 3, 2024.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.