CARDINAL FINANCIAL CORPORATION (NASDAQ:CFNL) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security
Holders.
Cardinal Financial Corporation (the Company or Cardinal) held its
Special Meeting of Shareholders on April7, 2017 (the Special
Meeting). At the Special Meeting, the shareholders of the Company
approved the Agreement and Plan of Reorganization, dated as of
August17, 2016, by and among United Bankshares,Inc., its
subsidiary UBV Holding Company, LLC and Cardinal, and the related
plan of merger, as each may be amended from time to time (the
Merger Agreement). Shareholders of the Company did not approve
the non-binding advisory vote proposal for certain compensation
that may become payable to Cardinals named executive officers in
connection with the merger. Lastly, shareholders of the Company
approved a proposal to adjourn, postpone or continue the special
meeting on one or more occasions, if necessary or appropriate, in
order to further solicit additional proxies, in the event that
there were not sufficient votes at the time of the special
meeting to approve the Merger Agreement.
The voting results for each proposal are as follows:
1. Proposal to approve the Agreement and Plan of Reorganization,
dated as of August17, 2016, by and among United Bankshares,Inc.,
its subsidiary UBV Holding Company, LLC and Cardinal Financial
Corporation, and the related plan of merger, as each may be
amended from time to time:
For |
|
Against |
|
Abstain |
|
Broker Non-Vote |
25,334,115 |
169,155 |
150,573 |
7,418,926 |
2. Proposal to approve, in a non-binding advisory vote, certain
compensation that may become payable to Cardinals named executive
officers in connection with the merger:
For |
|
Against |
|
Abstain |
|
Broker Non-Vote |
7,183,676 |
18,113,599 |
356,568 |
7,418,926 |
3. Proposal to approve the adjournment, postponement or
continuance of the special meeting on one or more occasions, if
necessary or appropriate, in order to further solicit additional
proxies, in the event that there are not sufficient votes at the
time of the special meeting to approve the Merger Agreement:
For |
|
Against |
|
Abstain |
|
Broker Non-Vote |
23,209,111 |
2,286,184 |
158,548 |
7,418,926 |
About CARDINAL FINANCIAL CORPORATION (NASDAQ:CFNL)
Cardinal Financial Corporation is a financial holding company. The Company owns Cardinal Bank (the Bank), a Virginia state-chartered community bank. The Bank operates in three business segments: commercial banking, mortgage banking and wealth management services. The commercial banking segment includes both commercial and consumer lending and provides customers such products as commercial loans, real estate loans, and other business financing and consumer loans. In addition, commercial banking segment provides customers with several choices of deposit products, including demand deposit accounts, savings accounts and certificates of deposit. The mortgage banking segment is engaged in the origination and acquisition of residential mortgages for sale into the secondary market. The wealth management services segment provides investment and financial advisory services to businesses and individuals, including financial planning, retirement/estate planning and investment management. CARDINAL FINANCIAL CORPORATION (NASDAQ:CFNL) Recent Trading Information
CARDINAL FINANCIAL CORPORATION (NASDAQ:CFNL) closed its last trading session down -0.10 at 28.72 with 154,737 shares trading hands.