HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07Submission of Matters to a Vote of Security Holders.

Highlands Bankshares, Inc. (the “Company”) held its Annual Meeting of Shareholders on May 15, 2018 (the “Annual Meeting”).At the Annual Meeting, the shareholders of the Company elected eight directors to serve for one-year terms, ratified the Company’s appointment of Brown, Edwards & Company, LLP as the Company’s independent auditors for 2018, approved the non-binding resolution to endorse the Company’s executive compensation program,and approved the Company’s 2018 Restricted Stock Plan.The voting results for each proposal are as follows:

1.To elect eight directors to serve for terms of one year each, expiring at the 2019 annual meeting of shareholders:

For

Withheld

Broker Non-Vote

E. Sutton Bacon

3,455,277

359,447

1,406,876

E. Craig Kendrick

3,497,642

317,081

1,406,876

Jon C. Lundberg

3,106,067

708,657

1,406,876

Charles D. Meade, III

3,488,071

326,652

1,406,876

Robert W. Moser, Jr.

3,484,708

330,016

1,406,876

Charles P. Olinger

3,497,242

317,481

1,406,876

Edward M. Rosinus

3,454,402

360,322

1,406,876

Timothy K. Schools

3,355,116

459,607

1,406,876

2. To ratify the appointment of Brown, Edwards & Company, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2018.

For

Against

Abstain

4,922,539

272,009

27,051

3.Advisory approval of the Company’s executive compensation (“Say on Pay”).

For

Against

Abstain

Broker Non-Vote

3,167,078

143,770

503,876

1,406,876

4.To approve the 2018 Restricted Stock Plan.

For

Against

Abstain

Broker Non-Vote

2,717,971

420,975

675,777

1,406,876


About HIGHLANDS BANKSHARES, INC. (OTCMKTS:HLND)

Highlands Bankshares, Inc. is a bank holding company. The Company conducts its business operations through its bank subsidiary, Highlands Union Bank (the Bank). The Bank operates a commercial banking business, which offers general retail and commercial banking services to individuals, businesses and local government unit customers. The Bank’s products and services include accepting deposits in the form of checking accounts, money market deposit accounts, interest-bearing demand deposit accounts, savings accounts and time deposits; making residential one- to four-family loans, owner occupied and non-owner occupied commercial real estate loans, second mortgages and equity lines, consumer loans, commercial and industrial loans, credit cards and agricultural loans; offering letters of credit; providing other consumer financial services, such as automatic funds transfer, collections, safe deposit, travelers checks and savings bond sales, and providing other miscellaneous services.