Ohio Valley Banc Corp (OVBC) bank and ESOP report passive share ownership
Rhea-AI Filing Summary
Ohio Valley Banc Corp received an amended Schedule 13G filing reporting that affiliated entities, including Ohio Valley Bank Company and the Ohio Valley Banc Corp. Employees' Stock Ownership Plan and Trust, beneficially own a minority portion of the company’s common stock. The filing classifies the reporting entities as a bank and an employee benefit plan and states that the shares were acquired and are held in the ordinary course of business. It also certifies that the holdings are not intended to change or influence control of Ohio Valley Banc Corp.
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FAQ
Who are the reporting persons in the OVBC Schedule 13G/A?
The reporting persons are Ohio Valley Bank Company and the Ohio Valley Banc Corp. Employees' Stock Ownership Plan and Trust. Both are organized under Ohio law and report beneficial ownership of Ohio Valley Banc Corp common stock as affiliated institutional holders.
Is the OVBC Schedule 13G/A filing a passive ownership report?
Yes. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, which is consistent with a passive institutional beneficial ownership filing.
What class of securities is covered in OVBC's Schedule 13G/A?
The filing covers Ohio Valley Banc Corp Common Stock, identified by CUSIP 677719106. All reported beneficial ownership, voting power, and dispositive power relate specifically to this class of common equity securities.
How is voting and dispositive power described in the OVBC ownership filing?
The filing breaks out sole and shared voting and dispositive power over Ohio Valley Banc Corp common shares, indicating how many shares the reporting persons can vote or dispose of individually versus jointly, as required under SEC beneficial ownership rules.
What does Item 10 certification in OVBC's Schedule 13G/A mean?
Item 10 certifies that the reported securities were acquired and are held in the ordinary course of business, not to change or influence control, and not in connection with any control‑related transaction, other than activities tied to specific proxy nomination provisions.