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UBCP > SEC Filings for UBCP > Form 8-K on 13-Dec-2013All Recent SEC Filings

Show all filings for UNITED BANCORP INC /OH/



Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective December 13, 2013, the Board of Directors of United Bancorp, Inc. appointed Gary W. Glessner to fill an open seat existing on the Boards of both United Bancorp, Inc. and its wholly-owned commercial bank subsidiary, The Citizens Savings Bank. Mr. Glessner, age 46, is the owner and managing member of Glessner & Associates, PLLC, which is a Certified Public Accounting firm in the Wheeling, West Virginia area that primarily focuses on financial statement and tax return preparation. Mr. Glessner has a degree in accounting from Wheeling College and obtained his CPA license in 1991. In addition, he also holds insurance licenses for life, health, annuity, property & casualty, as well as NASD Series 6 and 63 licensure as a registered representative with HD Vest Financial Services. It is intended that Mr. Glessner will begin to immediately serve on the Audit Committee of the Company's Board of Directors.

Mr. Glessner will receive the standard fees for serving on the Boards of Directors of both the Company and the Bank. Each member of the Board of Directors of the Company receives an annual retainer fee of $7,500 and $914 for each meeting attended. Each member of the Board of Directors of the Bank receives an annual retainer fee of $5,000 and $688.00 for each meeting attended. For serving as a member of the Audit Committee of the Company's Board of Directors, Mr. Glessner will receive an additional $316 per meeting attended (other than those held in connection with a full meeting of the Board of Directors). Mr. Glessner will also have an opportunity to participate in the Director Deferred Compensation Plan available to members of both the Company's and the Bank's Boards of Directors.

In addition, the Company, through the Bank, generally engages in the lending of money to Directors and their related interests. All such loans (i) are made in the ordinary course of business, (ii) are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons, and (iii) do not involve more than a normal risk of collectability or present other unfavorable features.

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