Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Martin F. Lightsey, a director of StellarOne Corporation, has notified the Board
of Directors that he will not stand for reelection in conjunction with the
company's 2009 Annual Meeting of Shareholders. Mr. Lightsey's decision to not
stand for reelection as a director was not due to any disagreement with the
company on any matters relating to its operations, policies or practices.
Item 8.01. Other Events
On February 3, 2009, StellarOne Corporation issued a press release announcing
that its Board of Directors approved a quarterly cash dividend in the amount of
$0.16 per share payable on February 27, 2009 to shareholders of record on
February 9, 2009. The payment represents an annual yield to shareholders of
approximately 4.7% based on StellarOne stock's recent trading price. The text of
the press release is included as Exhibit 99.1 to this report.
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