First Citizens BancShares, Inc. (NASDAQ:FCNCA) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.Submission of Matters to a Vote of Security Holders.
As previously reported, at the Corporation’s annual meeting of shareholders held on April 25, 2017, shareholders approved a Say-on-Pay Proposal, and a majority of the votes cast by shareholders on a separate, non-binding “Say-on-Frequency Proposal” favored submitting a Say-on-Pay Proposal to a vote of shareholders each year as recommended by the Corporation’s Board of Directors. Based on the shareholders' preference, and to the recommendation of its Compensation, Nominations and Governance Committee, the Corporation's Board of Directors has approved submission of a Say-on-Pay Proposal for a vote of shareholders each year until the next required vote by shareholders on a Say-on-Frequency Proposal at the 2023 annual meeting.
About First Citizens BancShares, Inc. (NASDAQ:FCNCA)
First Citizens BancShares, Inc. is a holding company. The Company invests the liquidity generated from its funding sources in interest-earning assets, including loans and leases, investment securities and overnight investments. It also invests in bank premises, hardware, software, furniture and equipment used to conduct its commercial banking business. The Company provides treasury services products, cardholder and merchant services, wealth management services and various other products and services typically offered by commercial banks. The Company conducts its banking operations through its subsidiary, First-Citizens Bank & Trust Company (FCB), a state-chartered bank. FCB offers services, including taking of deposits, cashing of checks and providing for individual and commercial cash needs; checking and savings plans; commercial, business and consumer lending; a full-service trust department; wealth management services, and other activities incidental to commercial banking.
