Carolina Trust BancShares, Inc. (NASDAQ:CART) 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
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.
