Union Bankshares, Inc. provided an overview of its Insider Trading Policy in the recent filing.
The Policy highlights the importance of complying with federal securities laws and maintaining confidentiality of material nonpublic information.
It defines the individuals covered by the Policy and the implications of insider trading for the Company and its insiders.
Material Information
The Policy emphasizes the significance of material information that could impact investment decisions and the responsibilities of insiders to keep such information confidential.
Prohibited Activities
The Policy prohibits trading in company securities based on nonpublic material information and outlines the risks and liabilities associated with insider trading.
Tipping Liability
Insiders are cautioned against providing material nonpublic information to outsiders, as it may lead to tipping liability even without financial benefits.
- Insider trading poses significant legal and ethical risks for both the Company and its insiders.
- Maintaining the confidentiality of material nonpublic information is crucial to avoid legal implications and ensure fair trading practices.
The Insider Trading Policy of Union Bankshares, Inc. underscores the importance of ethical conduct and compliance with securities laws to protect the interests of the Company and its stakeholders.