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[8-K] Old Point Financial Corp Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Ralliant Corp (RAL) filed a Form 4 disclosing that director Ganesh Moorthy acquired 4,434 restricted stock units (RSUs) of common stock on 06/30/2025. The RSUs were granted at no cost (price $0) and are classified under transaction code “A� (grant, award or other acquisition).

The award will vest on the earlier of (i) the first anniversary of the grant date or (ii) immediately prior to Ralliant’s 2026 annual shareholders� meeting. Following the grant, Moorthy’s total beneficial ownership stands at 4,434 shares, held directly. No derivative securities were reported, and the filing was executed by attorney-in-fact Sarah Johnson on 07/02/2025.

The transaction represents a routine annual equity grant meant to align director incentives with shareholder interests and does not, by itself, signal a change in the company’s financial outlook.

Ralliant Corp (RAL) ha presentato un Modulo 4 che rivela che il direttore Ganesh Moorthy ha acquisito 4.434 unità azionarie ristrette (RSU) di azioni ordinarie il 30/06/2025. Le RSU sono state concesse senza alcun costo (prezzo $0) e sono classificate sotto il codice transazione “A� (concessione, premio o altra acquisizione).

Il premio maturerà al primo verificarsi tra (i) il primo anniversario della data di concessione oppure (ii) immediatamente prima dell’assemblea annuale degli azionisti di Ralliant del 2026. Dopo la concessione, la proprietà beneficiaria totale di Moorthy ammonta a 4.434 azioni, detenute direttamente. Non sono stati segnalati titoli derivati e la presentazione è stata effettuata dall’avvocato delegato Sarah Johnson il 02/07/2025.

La transazione rappresenta una concessione azionaria annuale di routine, finalizzata ad allineare gli incentivi del direttore con gli interessi degli azionisti e non indica, di per sé, un cambiamento nelle prospettive finanziarie della società.

Ralliant Corp (RAL) presentó un Formulario 4 revelando que el director Ganesh Moorthy adquirió 4,434 unidades de acciones restringidas (RSU) de acciones comunes el 30/06/2025. Las RSU fueron otorgadas sin costo alguno (precio $0) y están clasificadas bajo el código de transacción “A� (concesión, premio u otra adquisición).

El premio se consolidará al ocurrir lo primero entre (i) el primer aniversario de la fecha de concesión o (ii) inmediatamente antes de la junta anual de accionistas de Ralliant en 2026. Tras la concesión, la propiedad beneficiaria total de Moorthy es de 4,434 acciones, mantenidas directamente. No se reportaron valores derivados y la presentación fue realizada por la apoderada Sarah Johnson el 02/07/2025.

La transacción representa una concesión anual rutinaria de acciones destinada a alinear los incentivos del director con los intereses de los accionistas y no indica, por sí sola, un cambio en las perspectivas financieras de la empresa.

Ralliant Corp (RAL)은 이사 Ganesh Moorthy가 2025� 6� 30일에 보통� 제한 주식 단위(RSU) 4,434주를 취득했다� Form 4� 제출했습니다. RSU� 무상으로 부여되었으�(가� $0), 거래 코드 “A�(부�, 상금 또는 기타 취득)� 분류됩니�.

� 상금은 (i) 부여일로부� 1주년 또는 (ii) Ralliant� 2026� 연례 주주총회 직전 � 먼저 도래하는 시점� 권리가 확정됩니�. 부� � Moorthy� � 실질 소유 주식은 4,434�� 직접 보유 중입니다. 파생 증권은 보고되지 않았으며, 제출은 2025� 7� 2� 대리인 Sarah Johnson� 의해 이루어졌습니�.

이번 거래� 이사� 인센티브� 주주 이익� 일치시키� 위한 정기적인 연례 주식 부여로, 단독으로 회사� 재무 전망 변� 신호� 아닙니다.

Ralliant Corp (RAL) a déposé un formulaire 4 révélant que le directeur Ganesh Moorthy a acquis 4 434 unités d’actions restreintes (RSU) d’actions ordinaires le 30/06/2025. Les RSU ont été attribuées sans coût (prix de 0 $) et sont classées sous le code de transaction « A » (attribution, récompense ou autre acquisition).

La récompense sera acquise au premier des deux événements suivants : (i) le premier anniversaire de la date d’attribution ou (ii) immédiatement avant l’assemblée annuelle des actionnaires de Ralliant en 2026. Après cette attribution, la propriété bénéficiaire totale de Moorthy s’élève à 4 434 actions, détenues directement. Aucun titre dérivé n’a été déclaré, et le dépôt a été effectué par la mandataire Sarah Johnson le 02/07/2025.

Cette transaction représente une attribution annuelle de titres classique visant à aligner les incitations du directeur avec les intérêts des actionnaires et ne signale pas, en soi, un changement dans les perspectives financières de la société.

Ralliant Corp (RAL) reichte ein Formular 4 ein, das offenlegt, dass Direktor Ganesh Moorthy am 30.06.2025 4.434 Restricted Stock Units (RSUs) von Stammaktien erworben hat. Die RSUs wurden kostenlos gewährt (Preis $0) und sind unter dem Transaktionscode „A� (Gewährung, Auszeichnung oder sonstiger Erwerb) klassifiziert.

Die Zuteilung wird fällig am früheren Zeitpunkt von (i) dem ersten Jahrestag des Gewährungsdatums oder (ii) unmittelbar vor der jährlichen Hauptversammlung von Ralliant im Jahr 2026. Nach der Gewährung hält Moorthy insgesamt 4.434 Aktien direkt. Es wurden keine derivativen Wertpapiere gemeldet, und die Einreichung erfolgte am 02.07.2025 durch die Bevollmächtigte Sarah Johnson.

Die Transaktion stellt eine routinemäßige jährliche Aktienzuteilung dar, die darauf abzielt, die Anreize des Direktors mit den Interessen der Aktionäre in Einklang zu bringen, und signalisiert für sich genommen keine Änderung der finanziellen Aussichten des Unternehmens.

Positive
  • Director-shareholder alignment: Equity compensation incentivises board oversight and strategic alignment.
  • Clear vesting schedule: One-year or earlier vesting provides transparency and retains director through the next AGM.
Negative
  • Immaterial size: 4,434 shares is unlikely to influence ownership structure or signal insider confidence.
  • Minor dilution risk: Although minimal, any new share issuance marginally increases shares outstanding.

Insights

TL;DR: Routine RSU grant to director; aligns incentives, negligible financial impact, neutral for valuation.

The Form 4 shows a standard annual equity award�4,434 RSUs—to director Ganesh Moorthy. Because the shares vest within one year or prior to the 2026 AGM, they serve as short-term alignment rather than long-dated compensation. The zero-dollar grant price and small absolute share count indicate minimal cash outlay and negligible dilution. There is no indication of open-market buying or selling, nor any Rule 10b5-1 plan ticked. From a governance standpoint, the award is positive for alignment, yet the scale is too small to alter insider ownership structure meaningfully or to be considered a buy-signal. Overall investment impact is neutral.

Ralliant Corp (RAL) ha presentato un Modulo 4 che rivela che il direttore Ganesh Moorthy ha acquisito 4.434 unità azionarie ristrette (RSU) di azioni ordinarie il 30/06/2025. Le RSU sono state concesse senza alcun costo (prezzo $0) e sono classificate sotto il codice transazione “A� (concessione, premio o altra acquisizione).

Il premio maturerà al primo verificarsi tra (i) il primo anniversario della data di concessione oppure (ii) immediatamente prima dell’assemblea annuale degli azionisti di Ralliant del 2026. Dopo la concessione, la proprietà beneficiaria totale di Moorthy ammonta a 4.434 azioni, detenute direttamente. Non sono stati segnalati titoli derivati e la presentazione è stata effettuata dall’avvocato delegato Sarah Johnson il 02/07/2025.

La transazione rappresenta una concessione azionaria annuale di routine, finalizzata ad allineare gli incentivi del direttore con gli interessi degli azionisti e non indica, di per sé, un cambiamento nelle prospettive finanziarie della società.

Ralliant Corp (RAL) presentó un Formulario 4 revelando que el director Ganesh Moorthy adquirió 4,434 unidades de acciones restringidas (RSU) de acciones comunes el 30/06/2025. Las RSU fueron otorgadas sin costo alguno (precio $0) y están clasificadas bajo el código de transacción “A� (concesión, premio u otra adquisición).

El premio se consolidará al ocurrir lo primero entre (i) el primer aniversario de la fecha de concesión o (ii) inmediatamente antes de la junta anual de accionistas de Ralliant en 2026. Tras la concesión, la propiedad beneficiaria total de Moorthy es de 4,434 acciones, mantenidas directamente. No se reportaron valores derivados y la presentación fue realizada por la apoderada Sarah Johnson el 02/07/2025.

La transacción representa una concesión anual rutinaria de acciones destinada a alinear los incentivos del director con los intereses de los accionistas y no indica, por sí sola, un cambio en las perspectivas financieras de la empresa.

Ralliant Corp (RAL)은 이사 Ganesh Moorthy가 2025� 6� 30일에 보통� 제한 주식 단위(RSU) 4,434주를 취득했다� Form 4� 제출했습니다. RSU� 무상으로 부여되었으�(가� $0), 거래 코드 “A�(부�, 상금 또는 기타 취득)� 분류됩니�.

� 상금은 (i) 부여일로부� 1주년 또는 (ii) Ralliant� 2026� 연례 주주총회 직전 � 먼저 도래하는 시점� 권리가 확정됩니�. 부� � Moorthy� � 실질 소유 주식은 4,434�� 직접 보유 중입니다. 파생 증권은 보고되지 않았으며, 제출은 2025� 7� 2� 대리인 Sarah Johnson� 의해 이루어졌습니�.

이번 거래� 이사� 인센티브� 주주 이익� 일치시키� 위한 정기적인 연례 주식 부여로, 단독으로 회사� 재무 전망 변� 신호� 아닙니다.

Ralliant Corp (RAL) a déposé un formulaire 4 révélant que le directeur Ganesh Moorthy a acquis 4 434 unités d’actions restreintes (RSU) d’actions ordinaires le 30/06/2025. Les RSU ont été attribuées sans coût (prix de 0 $) et sont classées sous le code de transaction « A » (attribution, récompense ou autre acquisition).

La récompense sera acquise au premier des deux événements suivants : (i) le premier anniversaire de la date d’attribution ou (ii) immédiatement avant l’assemblée annuelle des actionnaires de Ralliant en 2026. Après cette attribution, la propriété bénéficiaire totale de Moorthy s’élève à 4 434 actions, détenues directement. Aucun titre dérivé n’a été déclaré, et le dépôt a été effectué par la mandataire Sarah Johnson le 02/07/2025.

Cette transaction représente une attribution annuelle de titres classique visant à aligner les incitations du directeur avec les intérêts des actionnaires et ne signale pas, en soi, un changement dans les perspectives financières de la société.

Ralliant Corp (RAL) reichte ein Formular 4 ein, das offenlegt, dass Direktor Ganesh Moorthy am 30.06.2025 4.434 Restricted Stock Units (RSUs) von Stammaktien erworben hat. Die RSUs wurden kostenlos gewährt (Preis $0) und sind unter dem Transaktionscode „A� (Gewährung, Auszeichnung oder sonstiger Erwerb) klassifiziert.

Die Zuteilung wird fällig am früheren Zeitpunkt von (i) dem ersten Jahrestag des Gewährungsdatums oder (ii) unmittelbar vor der jährlichen Hauptversammlung von Ralliant im Jahr 2026. Nach der Gewährung hält Moorthy insgesamt 4.434 Aktien direkt. Es wurden keine derivativen Wertpapiere gemeldet, und die Einreichung erfolgte am 02.07.2025 durch die Bevollmächtigte Sarah Johnson.

Die Transaktion stellt eine routinemäßige jährliche Aktienzuteilung dar, die darauf abzielt, die Anreize des Direktors mit den Interessen der Aktionäre in Einklang zu bringen, und signalisiert für sich genommen keine Änderung der finanziellen Aussichten des Unternehmens.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 2, 2025

 

OLD POINT FINANCIAL CORPORATION

 (Exact name of registrant as specified in its charter)

 

Virginia   000-12896   54-1265373
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

101 East Queen Street

Hampton, Virginia 23669

(Address of principal executive offices)  (Zip Code)

 

(757) 728-1200

(Registrant's telephone number, including area code)

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $5.00 par value OPOF The NASDAQ Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company   ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ¨

 

 

 

 

 

Item 5.07Submission of Matters to a Vote of Security Holders.

 

Old Point Financial Corporation (the “Company”) held a special meeting of shareholders (the “Special Meeting”) on July 2, 2025 at 10:00 a.m., Eastern Time, to consider and vote on proposals related to the proposed merger of each of the Company and The Old Point National Bank of Phoebus (“Old Point National Bank”) with and into TowneBank (the “Merger”), with TowneBank surviving the Merger. There were 5,105,029 shares of the Company’s common stock outstanding on the record date and entitled to vote at the Special Meeting, and 4,020,626 shares were represented in person or by proxy, which constituted a quorum to conduct business at the Special Meeting.

 

At the Special Meeting, the Company shareholders voted on four proposals, as described in the definitive proxy statement filed by the Company with the U.S. Securities and Exchange Commission on May 27, 2025, which included an offering circular of TowneBank with respect to shares of TowneBank common stock to be issued in connection with the Merger (the “proxy statement/offering circular”). The proxy statement/offering circular was first mailed to the Company’s shareholders on or about May 29, 2025.

 

The Company’s shareholders approved each of the proposals. The final voting results for each proposal were as follows:

 

Proposal 1 – The Merger Proposal

 

The Company’s shareholders approved the Agreement and Plan of Merger (the “Merger Agreement”), dated as of April 2, 2025, by and among TowneBank, the Company and Old Point National Bank, including the related plan of merger, pursuant to which the Company will merge with and into TowneBank, and immediately thereafter and contemporaneously therewith, Old Point National Bank will merge with and into TowneBank, with TowneBank surviving the Merger. The following is a tabulation of the voting results on Proposal 1:

 

  For       Against       Abstain       Broker Non-Vote  
  3,897,638       86,064       36,924       0  

 

Proposal 2 – The Amendment of the Company’s Articles of Incorporation Proposal

 

The Company’s shareholders approved an amendment to the Company’s articles of incorporation, in the form set forth in Annex B to the proxy statement/offering circular, to facilitate the merger of the Company with and into TowneBank. The following is a tabulation of the voting results on Proposal 2:

 

  For       Against       Abstain       Broker Non-Vote  
  3,918,767       87,014       14,845       0  

 

Proposal 3 – The Executive Compensation Proposal

 

The Company’s shareholders approved, in an advisory (non-binding) vote, the Merger-related compensation payments that will or may be paid to the named executive officers of the Company in connection with the Merger as disclosed in the proxy statement/offering circular. The following is a tabulation of the voting results on Proposal 3:

 

  For       Against       Abstain       Broker Non-Vote  
  3,403,490       525,182       91,954       0  

 

 

 

 

Proposal 4 – The Adjournment Proposal

 

The Company’s shareholders approved a proposal to adjourn or postpone the Special Meeting, if necessary or appropriate, to solicit additional proxies if, immediately prior to such adjournment or postponement, there are not sufficient votes to approve Proposal 1 or Proposal 2 or to ensure that any supplement or amendment to the proxy statement/offering circular is timely provided to holders of Old Point common stock. The adjournment of the Special Meeting was not necessary because the Company’s shareholders approved Proposal 1 and Proposal 2. The following is a tabulation of the voting results on Proposal 4:

 

For     Against     Abstain     Broker Non-Vote  
  3,910,126       101,353       9,147       0  

 

Item 7.01Regulation FD Disclosure.

 

On July 2, 2025, the Company issued a press release announcing the results of the Special Meeting held on July 2, 2025. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)       Exhibits.

 

Exhibit No.   Description
    
99.1  Press Release dated July 2, 2025
    
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  OLD POINT FINANCIAL CORPORATION
  (Registrant)
   
 
  By: /s/ Robert F. Shuford Jr.
  Name: Robert F. Shuford Jr.
  Title: Chairman of the Board, President & Chief Executive Officer
   
Date: July 2, 2025  

 

 

FAQ

How many Ralliant (RAL) shares did Ganesh Moorthy acquire?

Moorthy received 4,434 restricted stock units of common stock.

What was the transaction date reported in the Form 4 filing?

The RSU grant occurred on 06/30/2025.

When do the granted RSUs vest?

They vest on the earlier of one year from grant or immediately before the 2026 annual meeting.

What is Ganesh Moorthy’s total beneficial ownership after the grant?

He now beneficially owns 4,434 RAL shares, held directly.

Was any cash paid for the RSUs?

No. The RSUs were granted at $0 per share.

Does the filing indicate a Rule 10b5-1 trading plan?

The Rule 10b5-1 checkbox is not marked, so no such plan is reported.
Old Point Finl

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