Citizens Community Bancorp Inc.
07/31/2026 | Press release | Distributed by Public on 07/31/2026 06:46
Material Event (Form 8-K)
Item 8.01. Other Events.
Stockholder Nomination
As is typical following its earnings releases, Citizens Community Bancorp, Inc. (the "Company") participated in bank analyst and investor meetings on July 27, 2026. One such meeting was with Andrew Schornack and certain other persons identified in the Schedule 13D/A filed on July 29, 2026 (the "Reporting Persons"). At that meeting, the Reporting Persons asked for a seat on the Company's Board of Directors (the "Board"). Having just concluded its Annual Meeting of Stockholders on June 16, 2026, at which the Company's stockholders elected three Class II directors to terms ending in 2029, and because there are no vacancies on the Board, the Company indicated that the Reporting Persons' request would be taken under advisement and considered by the Board's Governance and Nomination Committee (the "Committee") at a forthcoming Committee meeting. Assuming the Committee determines to recommend the creation of a vacancy, the Committee would evaluate such nominee (once he or she has been identified by the Reporting Persons) in accordance with the Company's Corporate Governance Guidelines. There can be no assurance that the Committee will recommend, or that the Board will approve, the appointment of the Reporting Persons' nominee to the Board. Consistent with its fiduciary duties, the Board is committed to acting in the best interests of all Company stockholders and regularly evaluates opportunities to maximize value for all Company stockholders.
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