<SEC-DOCUMENT>0001002105-19-000029.txt : 20190503
<SEC-HEADER>0001002105-19-000029.hdr.sgml : 20190503
<ACCEPTANCE-DATETIME>20190503075902
ACCESSION NUMBER:		0001002105-19-000029
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190502
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20190503
DATE AS OF CHANGE:		20190503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EAGLE FINANCIAL SERVICES INC
		CENTRAL INDEX KEY:			0000880641
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				541601306
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20146
		FILM NUMBER:		19794069

	BUSINESS ADDRESS:	
		STREET 1:		2 E MAIN ST
		CITY:			BERRYVILLE
		STATE:			VA
		ZIP:			22611
		BUSINESS PHONE:		540-955-2510

	MAIL ADDRESS:	
		STREET 1:		PO BOX 391
		CITY:			BERRYVILLE
		STATE:			VA
		ZIP:			22611
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>efsform8k050219.htm
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center;"><font style="font-size: 14pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WASHINGTON, D.C. 20549</font></div>
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    <div style="text-align: center;"><font style="font-size: 14pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FORM 8-K</font></div>
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    <div style="text-align: center;"><font style="font-size: 14pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CURRENT REPORT</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div><br>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Date of Report (Date of earliest event reported):&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight:
          bold;">May 1, 2019</font></font></div>
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    <div style="text-align: center;"><font style="font-size: 18pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">EAGLE FINANCIAL SERVICES, INC.</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Exact name of registrant as specified in its charter)</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Virginia</font></div>
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          <td style="width: 30.29%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">0-20146</font></div>
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          <td style="width: 33.67%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">54-1601306</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(State or other jurisdiction of incorporation)</font></div>
          </td>
          <td style="width: 30.29%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Commission File Number)</font></div>
          </td>
          <td style="width: 33.67%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(IRS Employer Identification No.)</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">2 East Main Street</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">P.O. Box 391</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Berryville, Virginia</font></div>
          </td>
          <td style="width: 49.99%; vertical-align: top;">
            <div>&#160;</div>
            <div>&#160;</div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">22611</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Address of principal executive offices)</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Zip Code)</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registrant's telephone number, including area code:<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight:
          bold;">&#160; (540) 955-2510</font></font></div>
    <div><br>
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    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">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:</font></div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
      </font></div>
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      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>Written communications pursuant to Rule 425 under the
        Securities Act (17 CFR 230.425)</div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>Soliciting material pursuant to Rule
          14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>Pre-commencement communications pursuant
          to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
      <div style="text-align: left; margin-bottom: 10pt;">
        <div style="text-align: left; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>Pre-commencement communications
          pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
      </div>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of
        this chapter) or Rule&#160;12b-2&#160;of the Securities Exchange of 1934&#160;(&#167;240.12b-2&#160;of this chapter).</font></div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Emerging growth company&#160;&#160;<font style="font-size: 10pt; font-family: 'Segoe UI Symbol';">&#9744;</font></font></div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">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&#160;13(a) of the Exchange Act.&#160;&#160;<font style="font-size: 10pt; font-family: 'Segoe UI Symbol';">&#9744;</font></font></div>
      <div><br>
      </div>
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    <div style="text-align: left; margin-top: 6pt; margin-bottom: 6pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Securities registered pursuant to Section 12(b) of the Act:</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Title of each class</font></div>
          </td>
          <td style="width: 25.16%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Trading Symbol(s)</font></div>
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          <td style="width: 36.32%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of each exchange on which registered</font></div>
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          <td colspan="3" style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">None</font></div>
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              <td style="width: 72pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item&#160;5.02</font></td>
              <td style="width: auto; vertical-align: top; text-align: left;">
                <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
                    Officers.</font></div>
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    <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On May 1, 2019, the Board of Directors of Eagle Financial Services, Inc. (the &#8220;Company&#8221;) appointed Brandon C. Lorey as
        President and Chief Executive Officer of the Company and its subsidiary bank, Bank of Clarke County (the &#8220;Bank&#8221;), effective July 8, 2019.&#160; Mr. Lorey is expected to begin working at the Company and the Bank in June 2019 to transition into his new
        role.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mr. Lorey, age 50, most recently served as Executive Vice President, Head of Consumer Banking of United Bank, a $7.3
        billion asset bank headquartered in Connecticut, since 2015.&#160; Previously, he served as Executive Vice President, Consumer Lending from April 2014 to June 2015, as Senior Vice President, Head of Consumer Lending from February 2013 to April 2014.&#160;
        Prior to joining United Bank and its predecessors, he served as Chief Credit and Lending Officer for H&amp;R Block Bank in Kansas City, Senior Vice President at Sovereign Bank in Pennsylvania and held various roles at Chevy Chase Bank, Federal
        Savings Bank in Maryland, including Vice President of risk, finance, operations and direct sales.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mr. Lorey will receive a base salary of $400,000 and will be eligible to receive cash and equity bonuses and
        performance-based compensation based on ranges and goals to be established by the Company.&#160; In addition, he will receive a $100,000 restricted stock award in each of the first two years of his employment.&#160; Mr. Lorey will be eligible for
        reimbursement of certain business expenses, including up to $100,000 of actual relocation expenses.&#160; The Company and Mr. Lorey expect to enter into an employment agreement that will set forth these terms and, among other terms, provide for a change
        of control benefit equal to<font style="background-color: #FFFFFF; font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> 299% of his annualized compensation </font>if he is terminated without cause or resigns for good reason within one
        year following a change in control of the Company.&#160; In addition, the Board of Directors anticipates naming Mr. Lorey as a director of the Company and the Bank in connection with his appointment.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">John R. Milleson, who had previously announced his retirement as President and Chief Executive Officer of the Company and
        the Bank, will continue to assist with Mr. Lorey&#8217;s transition until July 5, 2019, when he will officially retire from those roles.</font></div>
    <div><br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES</font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
    <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report
        to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Eagle Financial Services, Inc.</font></div>
          </td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.79%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Dated:&#160; May 3, 2019</font></div>
          </td>
          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By:</font></div>
          </td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Kathleen J. Chappell</font></div>
          </td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Kathleen J. Chappell</font></div>
          </td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Senior Vice President and CFO</font></div>
          </td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
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          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.79%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 25%; vertical-align: top;">&#160;</td>
        </tr>

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    </div>
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  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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