First Financial Northwest, Inc. (NASDAQ:FFNW) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 Submission of Matters to a Vote of Security Holders
(a) |
The Company's Annual Meeting was held on June 13, 2018. |
(b) |
There were a total of 10,779,424 shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 9,309,139shares of common stock were represented in person or by proxy; therefore a quorum was present. The following proposals were submitted by the Board of Directors to a vote of shareholders and the following are the results as certified by the independent Inspector of Election: |
Proposal 1. Election of Directors. Two persons were nominated for election each to serve for a three-year term. Directors are elected by a plurality of the votes cast, meaning that the nominees who receive the most "for" votes are elected as directors, subject to their qualification to serve as directors. Set forth below are results of the voting for the election of directors:
FOR |
WITHHELD |
BROKER NON-VOTES |
|||
No. of votes |
Percentage of shares present |
No. of votes |
Percentage of shares present |
No. of broker non-votes |
|
Richard P. Jacobson |
6,822,150 |
88.2 |
909,235 |
11.8 |
1,577,754 |
Daniel L. Stevens |
7,500,886 |
97.0 |
230,499 |
3.0 |
1,577,754 |
Based on the voting results set forth above, Richard P. Jacobson and Daniel L. Stevens were elected to serve as directors of the Company for a three-year term expiring at the annual meeting of shareholders in 2021; each to serve as a director of the Company until their respective successors have been duly elected and qualified.
The terms of Directors Gary F. Faull, Joann E. Lee, Kevin D. Padrick, Joseph W. Kiley III, Roger H. Molvar and Richard M. Riccobono continued.
Proposal 2. An advisory (non-binding) vote to approve the compensation of the Company's named executive officers, as described in the Company's proxy statement for the Annual Meeting. This proposal requires the affirmative vote of a majority of the votes cast at the Annual Meeting. Set forth below are results of the voting on this proposal:
For |
Percentage of shares present |
Against |
Percentage of shares present |
Abstain |
Percentage of shares present |
Broker Non-Vote |
7,107,186 |
91.9 |
393,304 |
5.1 |
230,895 |
3.0 |
1,577,754 |
Based on the voting results set forth above, the compensation of the Company's named executive officers was approved by the Company's shareholders.
Proposal 3. Ratification of the appointment of Moss Adams LLP as the Company's independent auditors for the year ending December 31, 2018. Set forth below are results of the voting on this proposal:
For |
Percentage of shares present |
Against |
Percentage of shares present |
Abstain |
Percentage of shares present |
Broker Non-Vote |
9,278,447 |
99.7 |
16,278 |
0.2 |
14,414 |
0.1 |
N/A |
Based on the voting results set forth above, the appointment of Moss Adams LLP as the Company's independent auditors to serve for the year ending December 31, 2018 was ratified by the Company's shareholders.
A copy of the Company's Annual Meeting Presentation that was provided at the Annual Meeting has been posted to the Company's website in the Investor Relations section at www.ffnwb.com andis being furnished as Exhibit 99.1 to this Form 8-K.
(c)None.
Item 7.01 Regulation FD Disclosure
The Company is furnishing presentation materials as Exhibit 99.1 to this report to Item 7.01 of Form 8-K. The Company presented these materials at its Annual Meeting addressing, among other things, the Company's business strategies. The foregoing description of information contained in the presentation is qualified by reference to such presentation materials attached as Exhibit 99.1. The Company is not undertaking to update this presentation or the information contained therein.
The information in this Item 7.01 of this report (including Exhibit 99.1) is being furnished to Item 7.01 of Form 8-K and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
This Item 7.01 of this report will not be deemed an admission as to the materiality of any information herein or contained in the presentation (including Exhibit 99.1).
Item 9.01 Financial Statements and Exhibits
(d)Exhibits
The following exhibits are being furnished herewith and this list shall constitute the exhibit index:
First Financial Northwest, Inc. Exhibit…To view the full exhibit click here
About First Financial Northwest, Inc. (NASDAQ:FFNW)
First Financial Northwest, Inc. (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington. The Bank’s business consists of attracting deposits from the public and utilizing these funds to originate one- to four-family residential, multifamily, commercial real estate, construction/land development, business and consumer loans. It focuses on its lending activities primarily on loans secured by commercial real estate, construction/land development, first mortgages on one- to four-family residences, multifamily and business lending. Its investment portfolio consisted principally of mortgage-backed securities, municipal bonds, the United States Government Agency obligations and corporate bonds.