COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB) Files An 8-K Submission of Matters to a Vote of Security Holders
Item5.07.
|
Submission of Matters to a Vote of Security Holders. |
On May24, 2017, Columbia Banking System, Inc. (the Company) held
its 2017 Annual Meeting of Shareholders (the 2017 Annual
Meeting). There were 58,325,968 shares outstanding and entitled
to vote at the 2017 Annual Meeting; of those shares, 54,707,247
were present in person or by proxy. The following matters were
voted upon at the 2017 Annual Meeting:
| 1. |
The election of ten directors to serve on the Companys Board of Directors until the 2018 annual meeting or until their successors have been elected and have qualified; |
| 2. |
An advisory (non-binding) resolution to approve the compensation of the Companys named executive officers; |
| 3. |
An advisory (non-binding) resolution to approve the frequency of future advisory votes on executive compensation; and |
| 4. |
An advisory (non-binding) resolution to appoint Deloitte Touche LLP as the Companys independent registered public accounting firm for the fiscal year ending December31, 2017. |
The following is a summary of the voting results for the matters
voted upon by the shareholders.
1. Election of Directors
|
DirectorsName |
Votes For |
VotesAgainst |
Abstentions |
BrokerNon-Votes |
||||||||||||||||
|
David A. Dietzler |
50,974,690 | 40,444 | 22,139 | 3,669,974 | ||||||||||||||||
|
Craig D. Eerkes |
50,952,069 | 68,195 | 17,009 | 3,669,974 | ||||||||||||||||
|
Ford Elsaesser |
50,967,030 | 57,047 | 13,196 | 3,669,974 | ||||||||||||||||
|
Mark A. Finkelstein |
50,982,096 | 42,932 | 12,245 | 3,669,974 | ||||||||||||||||
|
John P. Folsom |
50,786,599 | 232,603 | 18,071 | 3,669,974 | ||||||||||||||||
|
Thomas M. Hulbert |
50,776,365 | 233,749 | 27,159 | 3,669,974 | ||||||||||||||||
|
Michelle M. Lantow |
50,928,661 | 95,620 | 12,992 | 3,669,974 | ||||||||||||||||
|
S. Mae Fujita Numata |
50,959,907 | 65,009 | 12,357 | 3,669,974 | ||||||||||||||||
|
Elizabeth W. Seaton |
50,952,423 | 72,713 | 12,137 | 3,669,974 | ||||||||||||||||
|
William T. Weyerhaeuser |
50,782,271 | 243,911 | 11,091 | 3,669,974 |
2. Advisory (non-binding) Approval of Executive
Compensation
|
Votes For |
Votes Against |
Abstentions |
Broker Non-Votes |
|||
|
50,671,669 |
323,262 | 42,342 | 3,669,974 |
3. Advisory (non-binding) Approval of Frequency of Future
Advisory Votes on Executive Compensation
|
1 Year |
2 Years |
3 Years |
Abstentions |
|||
|
42,003,687 |
250,501 | 8,755,824 | 22,265 |
4. Advisory (non-binding) Appointment of Independent
Registered Public Accounting Firm
|
Votes For |
Votes Against |
Abstentions |
Broker Non-Votes |
|||
|
54,202,553 |
479,346 | 25,348 |
Based on the Board of Directors recommendation in the proxy
statement for the 2017 Annual Meeting and the voting results with
respect to the advisory vote on the frequency of future advisory
votes on executive compensation, the Company has determined to
hold an advisory vote on executive compensation annually.
| Item8.01. | Other Events. |
On May25, 2017, the Company issued a press release announcing
that Columbia State Bank (the Bank), a wholly-owned subsidiary of
the Company, has entered into an agreement with the Federal
Deposit Insurance Corporation (the FDIC), dated as of May23,
2017, to terminate all existing loss share agreements by and
between the Bank and the FDIC. A copy of the press release is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
The following exhibits are being filed herewith:
|
ExhibitNo. |
Description |
|
| 99.1 |
Press release dated May 25, 2017 announcing early termination of all FDIC loss share agreements |
About COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB)
Columbia Banking System, Inc. is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc. The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho. The Company’s products and services include personal banking, business banking and wealth management. It offers its personal banking customers a range of account products, including noninterest and interest-bearing checking, savings, money market and certificate of deposit accounts. The Company offers its business banking customers with a range of checking, savings, interest bearing money market and certificate of deposit accounts. It provides individual and business retirement solutions, insurance solutions, wealth management and financial planning. COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB) Recent Trading Information
COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB) closed its last trading session down -0.39 at 38.09 with 197,281 shares trading hands.
