0000718413 2025-01-01 2025-12-31 0000718413 2023-01-01 2023-12-31 0000718413 2024-01-01 2024-12-31 0000718413 2025-12-31 2025-01-01 2025-12-31 iso4217:USD DEF 14A false 0000718413 Community Bancorp /VT true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inappropriate risk-taking with respect to incentive compensation is further discouraged under the terms of the Company’s compensation Clawback Policy, adopted by the Board of Directors in 2025. Under the policy, in the event of an accounting restatement resulting from material noncompliance by the Company with its financial reporting requirements under federal securities laws, incentive compensation paid to the Company’s executive officers during the three completed fiscal years preceding a restatement is subject to recoupment to the extent that it exceeded the amount that would have been received by the executive had such compensation been determined based on the amounts in the restated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-weight: bold;"><span id="a_032" style="display: inline-block;"></span>ADDITIONAL PAY VERSUS PERFORMANCE INFORMATION</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides certain information on “Pay versus Performance” for the Principal Executive Officer (PEO) and the Non-PEO Named Executive Officers (NEO) for the years presented:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tbody><tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Value of</span></td> <td style="white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Initial Fixed</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">$100 </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Investment</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Summary</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Average Summary</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Average Compensation</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Based on</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Compensation</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Compensation</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Compensation Table</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Actually Paid to</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Total</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Table Total </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Actually Paid</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Total for Non-PEO</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Non-PEO</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Shareholder</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Net Income</span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Year</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">For PEO (1)(2)</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">To PEO (1)(2)</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">NEOs (1)(2)</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">NEOs (1)(2)</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Return (3)</span></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">(in thousands)</span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2025</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$641,473</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$641,473</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$441,735</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$441,735</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$146</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$16,968</span></td> </tr> <tr style="vertical-align: top"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2024</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$597,130 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$597,130 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$402,884 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$402,884 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$99 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$12,764</td> </tr> <tr style="vertical-align: top"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2023</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$602,118 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$602,118 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$383,979 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$383,979 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$97 </span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$13,432 </span></td> </tr> <tr style="vertical-align: top"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> </tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"> <tbody><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(1)</td><td style="text-align: justify">Throughout 2024 and 2023, Kathryn Austin served as the Company’s PEO and the Company’s remaining NEOs consisted of Louise Bonvechio and Christopher Caldwell. Throughout 2025, Christopher Caldwell served as the Company’s PEO and the remaining NEO was Louise Bonvechio.</td></tr></tbody> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"> <tbody><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(2)</td><td style="text-align: justify">In accordance with the SEC’s calculation requirements, because the Company does not pay equity compensation, there is no difference between compensation amounts reported in columns (b) and (c), or columns (d) and (e).</td></tr></tbody> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"> <tbody><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(3)</td><td style="text-align: justify">Stock price information used in the calculation of the Total Shareholder Return (TSR) is obtained from the OTCIQ website for the Company’s Ticker Symbol, CMTV. The calculation of the TSR includes reinvested dividends.</td></tr></tbody> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In setting compensation for the PEO and the other two NEO’s, the Compensation Committee considers a variety of quantitative and qualitative factors and does not directly tie its decision making to changes in TSR or net income. <span style="background-color: aqua"><br/></span></p> 641473 641473 441735 441735 146 16968000 597130 597130 402884 402884 99 12764000 602118 602118 383979 383979 97 13432000 Throughout 2024 and 2023, Kathryn Austin served as the Company’s PEO and the Company’s remaining NEOs consisted of Louise Bonvechio and Christopher Caldwell. Throughout 2025, Christopher Caldwell served as the Company’s PEO and the remaining NEO was Louise Bonvechio. Kathryn Austin Kathryn Austin Christopher Caldwell Stock price information used in the calculation of the Total Shareholder Return (TSR) is obtained from the OTCIQ website for the Company’s Ticker Symbol, CMTV. The calculation of the TSR includes reinvested dividends. Throughout 2024 and 2023, Kathryn Austin served as the Company’s PEO and the Company’s remaining NEOs consisted of Louise Bonvechio and Christopher Caldwell. Throughout 2025, Christopher Caldwell served as the Company’s PEO and the remaining NEO was Louise Bonvechio. In accordance with the SEC’s calculation requirements, because the Company does not pay equity compensation, there is no difference between compensation amounts reported in columns (b) and (c), or columns (d) and (e). Stock price information used in the calculation of the Total Shareholder Return (TSR) is obtained from the OTCIQ website for the Company’s Ticker Symbol, CMTV. The calculation of the TSR includes reinvested dividends.