FRANKLIN FINANCIAL SERVICES CORPORATION (OTCMKTS:FRAF) 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.
Franklin Financial Services Corporation (the “Company”) held its annual meeting of shareholders on April 28, 2020. The Board of Directors submitted the following proposals to a vote of security holders and the results of the voting on each proposal are presented below.
Proposal 1 – Election of four Directors to Class B for a term of three years.
Directors Elliott, Henry, Kerlin and Rzomp were elected.
Proposal 2 – Advisory Vote on Compensation of Named Executive Officers (Say-On-Pay).
Proposal 3 – Amendment to the Articles of Incorporation
The proposal to amend the Articles of Incorporation was approved as the total votes cast “for” exceeded the required
minimum vote of more than 50% of all outstanding shares.
Proposal 4 – Ratification of the selection of Crowe LLP, as the independent registered public accounting firm for 2020.
The selection of Crowe LLP was ratified.
About FRANKLIN FINANCIAL SERVICES CORPORATION (OTCMKTS:FRAF)
Franklin Financial Services Corporation is a bank holding company. The Company conducts its business through its banking subsidiary, Farmers and Merchants Trust Company of Chambersburg (the Bank). The Bank is a Pennsylvania-chartered commercial bank and trust company. It operates over 20 community banking offices in Franklin, Cumberland, Fulton and Huntingdon counties in Pennsylvania. The Bank is engaged in general commercial, retail banking and trust services associated with community banks. The Bank offers a range of services, including accepting and maintaining checking, savings, and time deposit accounts, making loans and providing safe deposit facilities to businesses, individuals and governmental entities. The Company’s subsidiary, Franklin Future Fund Inc., is a non-bank investment company that makes venture capital investments within the Company’s primary market area.