Carolina Trust BancShares, Inc. (NASDAQ:CART) Files An 8-K Submission of Matters to a Vote of Security Holders

Carolina Trust BancShares, Inc. (NASDAQ:CART) Files An 8-K Submission of Matters to a Vote of Security Holders

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Item 5.07 Submission of Matters to a Vote of Security Holders

On May 2, 2017, Carolina Trust BancShares, Inc. (the Company)
held its Annual Meeting of Shareholders (the Annual Meeting).
There were four proposals submitted to shareholders at the Annual
Meeting. In the case of Proposal 1, all of the nominees were
approved and elected to serve on the Companys Board of Directors.
The second proposal to ratify the bylaw provisions for staggered
terms of directors was not approved as a majority of the casted
votes were against the proposal. The by-laws will be amended by
the board of directors at its next meeting to change the director
term to 1 year. Proposals 3 and 4 were approved by shareholders.
Proposal 3 was an advisory vote on executive compensation, and
Proposal 4 was the ratification of the appointment of Dixon
Hughes Goodman as the independent registered public accounting
firm.

The proposals below are described in greater detail in the
Registrants definitive proxy statement for the Annual Meeting,
filed with the SEC on March31, 2017.

The voting results were as follows:

Proposal 1: Proposal to
elect seven members of the Board of Directors for the terms
indicated.

Directors Elected Term Shares Voted For Shares Withheld Shares Abstained Broker Non-Votes
Ralph N. Strayhorn III One-Year 2,308,675 45,789 1,203,762
Jim R. Watson One-Year 2,309,598 44,866 1,203,762
Johnathan L. Rhyne, Jr. Two-Year 2,306,121 48,343 1,203,762
Frederick P. Spach, Jr. Two-Year 2,311,680 42,784 1,203,762
Bryan Elliott Beal Three-Year 2,312,577 41,887 1,203,762
Scott C. Davis Three-Year 2,306,495 47,969 1,203,762
Jerry L. Ocheltree Three-Year 2,308,581 45,883 1,203,762

Proposal 2: Ratification of
bylaw provisions for staggered terms for directors.

Shares Voted For Shares Against Shares Abstained Broker Non-Votes
765,927 1,204,901 383,636

1,203,762

Proposal 3: Advisory vote on
executive compensation.

Shares Voted For Shares Against Shares Abstained Broker Non-Votes
2,242,501 87,648 24,315 1,203,762

Proposal 4: Ratification of
the appointment of Dixon Hughes Goodman LLP as the independent
registered public accounting firm for the year ending December
31, 2017.

Shares Voted For Shares Against Shares Abstained Broker Non-Votes
3,492,980 50,841 14,405


Carolina Trust BancShares, Inc. (NASDAQ:CART) Recent Trading Information

Carolina Trust BancShares, Inc. (NASDAQ:CART) closed its last trading session up +0.16 at 7.23 with 733 shares trading hands.

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