CU Bancorp (NASDAQ:CUNB) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders
On August24, 2017, CU Bancorp, a California corporation (the “Company”) held a special meeting of shareholders (the “Special Meeting”). At the Special Meeting, 12,727,817 shares of Company common stock, or approximately 71% of the eligible voting common shares, were represented in person or by proxy and voted on the following proposals, all of which were approved. As of the record date for the Special Meeting, 17,807,931 outstanding shares of Company common stock were eligible to vote.
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1.Merger Proposal.To approve the principal terms of the Agreement and Plan of Merger, dated as of April5, 2017 (the “Agreement and Plan of Merger”), by and between PacWest Bancorp and the Company (the “merger proposal”). |
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SharesVotedFor |
SharesVotedAgainst |
SharesAbstained |
BrokerNon-Votes |
| 12,262,065 | 306,018 | 159,734 | — |
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Completion of the merger remains subject to the satisfaction or waiver of the closing conditions set forth in the Agreement and Plan of Merger. |
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2.Adjournment Proposal.To approve one or more adjournments of the Special Meeting, if necessary or appropriate, including adjournments to permit further solicitation of proxies if there are insufficient votes at the time of the Special Meeting to approve the merger proposal. |
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SharesVotedFor |
SharesVotedAgainst |
SharesAbstained |
BrokerNon- Votes |
| 11,592,396 | 893,947 | 241,474 | — |
About CU Bancorp (NASDAQ:CUNB)
CU Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its bank subsidiary, California United Bank (the Bank). It operates in commercial business banking segment. The Bank is a commercial bank offering a range of banking products and services designed for small and medium-sized businesses, non-profit organizations, business owners and entrepreneurs, and the professional community, including attorneys, certified public accountants, financial advisors and healthcare providers, and investors. Its deposit products include demand, money market and certificates of deposit, and loan products include commercial, real estate construction, commercial real estate, Small Business Administration (SBA) and personal loans. It also provides cash management services, online banking, commercial credit cards and other primarily business-oriented products. It conducts lending and deposit operations through over 10 branch offices.