United States

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 21, 2020

First Capital, Inc.

(Exact Name of Registrant as Specified in its Charter)

220 Federal Drive N.W., Corydon, Indiana 47112

(Address of Principal Executive Offices) (Zip Code)

(812) 738-2198

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company       ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.         ¨

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(d) On September 21, 2020, the Board of Directors (the “Board”) of First Capital, Inc. (the “Company”), upon the recommendation of its Nominating Committee, increased the size of the Board from 12 to 13 members and appointed Michael C. Frederick to fill the vacancy so created, effective September 21, 2020. Mr. Frederick will serve on the Loan Committee of the Company’s Board.

Mr. Frederick has been affiliated with the bank since June 1990 and has served in his present position since 2018. Prior to that time, Mr. Frederick served as Executive Vice President since 2013 and Chief Financial Officer and Treasurer since 1997.

Mr. Frederick has (i) no arrangements or understandings with any other person pursuant to which he was appointed to as a director, and (ii) no family relationship with any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer.

Mr. Frederick has had no direct or indirect material interest in any transaction or series of similar transactions contemplated by Item 404(a) of Regulation S-K.

Mr. Frederick will receive the standard compensation, a portion of which will be pro-rated to reflect the actual time he will serve on the Company’s Board this year, paid by the Company to its employee directors.

Item 8.01 Other Events

On September 21, 2020, the Board also adopted a succession plan regarding the Chief Executive Officer and President positions. Pursuant to the succession plan, Michael C. Frederick will transition into the role of President of First Harrison Bank during 2022 and then into the role of Chief Executive Officer of First Harrison Bank during 2023. William Harrod will continue to serve in the role of Chief Executive Officer and President of the Company until his retirement.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.