Lakeland Financial Corporation (NASDAQ:LKFN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k

7 years ago

Item 5.02

Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

Lakeland Financial Corporation 2017 Equity Incentive Plan

At the 2017 Annual Meeting of Shareholders (the “Annual
Meeting”) of Lakeland Financial Corporation (the “Company”)
held on April 11, 2017, the Company’s shareholders approved the
2017 Equity Incentive Plan (the (“2017 EIP”). The 2017 EIP was
adopted by the Company’s Board of Directors on January 10, 2017,
subject to shareholder approval at the Annual Meeting, to promote
the Company’s long term financial success, to attract, retain
and reward persons who can contribute to the Company’s success,
and to further align the participants’ interest with those of
the Company’s shareholders. The 2017 EIP will be administered by
the Compensation Committee of the Board of Directors, which will
select award recipients from the eligible participants, determine
the types of awards to be granted, and determine the applicable
terms, conditions, performance criteria, restrictions and other
provisions of such awards, including any vesting or accelerated
vesting requirements or conditions applicable to an award or
awards.

The 2017 EIP incorporates a broad variety of cash-based and
equity-based incentive compensation elements to provide the
Compensation Committee with significant flexibility to
appropriately address the requirements and limitations of
recently applicable legal, regulatory and financial accounting
standards in a manner mutually consistent with the purposes of
the 2017 EIP and shareholder interests.

Subject to permitted adjustments for certain corporate
transactions, the maximum number of shares that may be delivered
to participants, or their beneficiaries, under the 2017 EIP is
1,000,000 shares of the Company’s common stock.

The foregoing description of the 2017 EIP is qualified in its
entirety by the text of the 2017 EIP, which is filed as Exhibit
4.4 to the Company’s Registration Statement on Form S-8, filed
with the SEC on April 12, 2017, and which is incorporated herein
by reference.

Item 5.07 Submission of Matters to a Vote of Security Holders

On April 11, 2017, the Company’s annual meeting of stockholders
was held. At the meeting, the stockholders elected Blake W.
Augsburger, Robert E. Bartels, Jr., Daniel F. Evans, Jr., David
M. Findlay, Thomas A. Hiatt, Michael L. Kubacki, Emily E. Pichon,
Steven D. Ross, Brian J. Smith, Bradley J. Toothaker, Ronald D.
Truex and M. Scott Welch, each with terms expiring in 2018. The
Company’s stockholders also approved the 2017 Equity Incentive
Plan. Additionally, the Company’s shareholders ratified the
selection of Crowe Horwath LLP as the Company’s independent
registered public accounting firm for the year ended December 31,
2017, ratified the advisory vote on executive compensation and
ratified the frequency of the vote on executive compensation.

The final results of voting on each of the matters submitted to a
vote of security holders during the annual meeting are as
follows:

Election of Directors:
				Broker
	For	Against	Abstain	Non-votes
Blake W. Augsburger Robert E. Bartels, Jr. Daniel F. Evans, Jr. David M. Findlay Thomas A. Hiatt Michael L. Kubacki Emily E. Pichon Steven D. Ross Brian J. Smith Bradley J. Toothaker Ronald D. Truex M. Scott Welch	18,050,478 17,793,057 18,007,357 18,173,737 17,767,269 17,923,543 18,152,744 18,153,005 18,418,355 16,957,904 18,345,705 17,915,709	504,628 752,424 513,915 391,132 766,796 641,266 407,220 395,453 133,293 1,569,284 136,361 614,645	33,050 42,675 66,884 23,287 54,091 23,347 28,192 39,698 36,508 60,968 106,090 57,802	3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446 3,477,446

2017 Equity Incentive Plan:

For	Against	Abstain	Broker Non-votes
17,959,453	538,997	89,706	3,477,446

Ratification of Crowe Horwath LLP as Independent Registered
Public Accounting Firm:

For	Against	Abstain	Broker Non-votes
21,573,541	412,852	79,125

Approval of Advisory Proposal on Executive Compensation:

For	Against	Abstain	Broker Non-votes
18,004,370	387,278	196,508	3,477,446

Approval of Advisory Proposal on Frequency of Vote on Executive
Compensation:

1 Year	2 Year	3 Year	Abstain
15,979,636	38,502	2,471,101	98,917

About Lakeland Financial Corporation (NASDAQ:LKFN)
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services. It serves a range of industries, including commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare. The Bank’s activities cover all phases of commercial banking, including deposit products, commercial and consumer lending, retail and merchant credit card services, corporate treasury management services, and wealth advisory, trust and brokerage services. The Bank has over 50 offices in over 10 counties in Northern and Central Indiana. Lakeland Financial Corporation (NASDAQ:LKFN) Recent Trading Information
Lakeland Financial Corporation (NASDAQ:LKFN) closed its last trading session 00.00 at 42.83 with 80,590 shares trading hands.