Item 8.01: Other Events On December 18, 2013 , the Board of Directors of Union Bankshares, Inc. , (the "Company") approved the issuance of incentive stock options under the Company's 2008 Incentive Stock Option Plan, to the following executive officers of the Company: Number of Shares Subject to Name and Title(s) with the Company and Its Subsidiary (Union Bank) Option David S. Silverman , President & Chief Executive Officer, the Company and Union Bank 3,000 Marsha A. Mongeon , Vice President, Treasurer & Chief Financial Officer, the Company Senior Vice President & Treasurer, Union Bank 1,500 Jeffrey G. Coslett , Vice President, the Company Senior Vice President, Union Bank 1,500 The exercise price of all such options is $22.00 which represents the closing price of the Company's common stock on the date of the grant. All options are subject to a one-year vesting period before they become exercisable and expire 7 years after the date of the grant.
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