The board of ACNB Corp. is proposing to amend the company's articles of incorporation and bylaws regarding director classifications, the frequency of re-elections and the flexibility with which directors can be appointed between shareholder meetings.
Shareholders will vote on the proposals at the May 1 annual meeting.
The Gettysburg, Pa.-based company also disclosed a 2017 CEO pay ratio of 13 to 1. It paid President and CEO James Helt $489,022 in total compensation that year. The median employee's annual compensation was $37,073.
Helt, however, was not CEO for the full year. His predecessor, Thomas Ritter, retired in May 2017.
ACNB is the $1.60 billion-in-assets holding company of ACNB Bank.
