J. David Vaughan
About J. David Vaughan
J. David Vaughan, 57, is an independent director of Skyline Bankshares (SLBK) and has served on the Board since its inception in November 2015. He is the managing partner of My Home Furnishings, LLC (youth furniture distributor) and previously served as President of Vaughan Furniture, Inc. until retiring in 2024. He also holds community leadership roles including President of the Wytheville Community College Scholarship Foundation and President of Vaughan Restoration Group, and serves on the Board of the Vaughan Foundation. His background provides financial/managerial expertise and deep ties to core markets served by Skyline National Bank.
Past Roles
| Organization | Role | Tenure/Notes | Committees/Impact |
|---|---|---|---|
| Skyline Bankshares, Inc. | Director (Independent) | Director since November 2015 | Brings furniture industry, financial and managerial insight relevant to local economy and lending markets |
| Grayson Bankshares/Grayson National Bank | Director | 1999–2016 (prior to merger into SLBK’s bank) | Banking governance experience |
| Vaughan Furniture, Inc. | President | Served as President until retiring in 2024 | Led a major local furniture distributor; sector ties to SLBK markets |
| My Home Furnishings, LLC | Managing Partner | Current | Distribution operations leadership |
External Roles
| Organization | Role | Tenure/Notes |
|---|---|---|
| Wytheville Community College Scholarship Foundation | President | Current |
| Vaughan Restoration Group | President | Works with the City of Galax on redevelopment efforts |
| Vaughan Foundation | Director/Board member | Current |
| Vaughan Furniture Company, Inc. | Director | Listed in 2024 proxy (historical external role) |
| Big “V” Wholesale Company, Inc. | Director | Listed in 2024 proxy (historical external role) |
Board Governance
- Independence: The Board determined Vaughan is independent under Nasdaq standards (one of 12 of 15 independent directors in 2025; 11 of 13 in 2024). No transactions involving Vaughan were cited in independence considerations.
- Committee assignments: SLBK has Audit and Compensation Committees. Vaughan is not listed on either committee in 2023–2025 proxies:
- Audit Committee: Frank A. Stewart (Chair), A. Melissa Gentry (Vice Chair), T. Mauyer Gallimore, Theresa S. Lazo, John Michael Turman.
- Compensation Committee: Dr. J. Howard Conduff, Jr. (Chair), Bryan L. Edwards (Vice Chair), Jacky K. Anderson, Thomas M. Jackson, Jr., Frank A. Stewart.
- Nominating: No standing nominating committee; the full Board (predominantly independent) conducts nominations.
- Chair/CEO structure: Independent Chairman (Thomas M. Jackson, Jr.) separate from CEO (Blake M. Edwards, Jr.).
- Risk oversight: Board and committees oversee risk; Audit handles financial reporting/compliance; Compensation oversees compensation-related risk.
- Meeting cadence: Audit Committee met five times in 2024; Compensation Committee met three times in 2024.
- Audit Committee financial expert: None designated (talent pool constraints noted).
- Board size/elections: 15 directors nominated for one-year terms at the 2025 annual meeting.
- Other public directorships: The proxy states no director (including Vaughan) has served on a Section 12-registered public company board in the last five years.
Fixed Compensation
- Not disclosed in available proxy excerpts; director compensation tables were not retrievable from the document sections accessed. Will supplement upon availability.
Performance Compensation
- Not disclosed in available proxy excerpts for non-employee directors (no performance-metric-based director pay discussed in the accessible sections).
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company boards (last 5 years) | None disclosed for Vaughan; proxy indicates no director held Section 12-registered public company directorships in last five years. |
| Private/Non-profit boards | Vaughan Foundation (Director), Wytheville Community College Scholarship Foundation (President), Vaughan Restoration Group (President); historically also boards of Vaughan Furniture Company, Inc. and Big “V” Wholesale Company, Inc. |
| Potential interlocks | No interlocks or conflicted overlapping public directorships disclosed. |
Expertise & Qualifications
- Industry/operator: Decades in furniture distribution and manufacturing leadership (Vaughan Furniture; My Home Furnishings), a core regional industry in SLBK markets.
- Financial/managerial: Business leadership and operational oversight experience.
- Community engagement: Leadership in regional foundations and redevelopment initiatives, providing local market insight and relationships.
Equity Ownership
- Not disclosed in available proxy excerpts; beneficial ownership table not retrievable from accessible sections. Will supplement upon availability.
Governance Assessment
- Positives
- Independent director since SLBK’s inception; no related-party transactions involving Vaughan disclosed in independence review.
- Deep local industry knowledge and community leadership aligned with SLBK’s community banking footprint.
- Board leadership separation (independent Chair) and clear committee risk oversight structure.
- Watch items / potential red flags
- No designated Audit Committee financial expert (Board cites rural market constraints). For investors, this can be a governance quality watch item given banking sector complexity.
- No standing nominating committee; the full Board handles nominations, which can concentrate gatekeeping but is mitigated by majority independence.
- Committee membership: Vaughan is not on Audit or Compensation; limited visibility into committee-level engagement from disclosures.
- Director compensation and equity ownership details were not available in accessible sections; transparency on alignment/skin-in-the-game cannot be assessed here.
Conclusion: Vaughan appears to be a long-tenured, independent community/operator profile director with relevant local-industry expertise and civic ties, and no disclosed conflicts. Key governance watch items for investor confidence are the absence of an audit committee financial expert and the lack of a separate nominating committee. Additional disclosure on director compensation and individual equity ownership would further clarify alignment.