BATON ROUGE, LA – Investar Holding (NASDAQ:) Corporation (NASDAQ:ISTR), a commercial banking institution, announced the appointment of Scott Ginn as a new member of its Board of Directors, effective immediately on Tuesday. The announcement follows a decision by the Board upon the recommendation of the Nominating and Governance Committee.
Ginn is set to serve on the Board until the 2025 Annual Meeting of Shareholders when a successor will be elected. The Board has also appointed him to the Audit Committee, recognizing him as an “audit committee financial expert” under the U.S. Securities and Exchange Commission rules. This designation indicates he possesses the necessary financial sophistication as per the NASDAQ Stock Market listing rules.
The company has confirmed that Ginn’s appointment is not the result of any arrangements or understandings with other persons. Furthermore, Ginn has no family relationships with any director or executive officer of the company, nor does he have any material interest in transactions that would require disclosure under Regulation S-K.
As a non-employee director, Ginn will receive compensation in line with the company’s standard arrangements for such positions, as detailed in the company’s proxy statement filed on April 2, 2024. This move is part of Investar Holding’s ongoing governance and oversight strengthening, ensuring the company adheres to regulatory standards and best practices.
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