LIVE OAK BANCSHARES, INC. (NASDAQ:LOB) 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 2018 Annual Meeting of Shareholders (the "Annual Meeting") of Live Oak Bancshares, Inc. (the "Company") was held on May 15, 2018. On March16, 2018, the record date for the Annual Meeting, 35,323,543 shares of the Company’s voting common stock were issued and outstanding, of which 33,984,277 were present for purposes of establishing a quorum.
(b)Shareholders voted on the following matters at the Annual Meeting:
|
(1) |
Shareholders elected William H. Cameron, Diane B. Glossman, Glen F. Hoffsis, Howard K. Landis III, James S. Mahan III, Miltom E. Petty, Jerald L. Pullins, Neil L. Underwood and William L. Williams III to the Board of Directors for terms of one year; |
|
(2) |
Shareholders approved an amendment of the Company’s Amended and Restated 2015 Omnibus Stock Incentive Plan to increase the number of shares of voting common stock issuable under such plan; |
|
(3) |
Shareholders ratified Dixon Hughes Goodman LLP as the Company’s independent auditors for 2018; and |
|
(4) |
Shareholders approved a proposal to adjourn the Annual Meeting to a later date or dates, if necessary, to permit further solicitation of proxies in the event there are not sufficient votes at the time of the Annual Meeting to approve the matters to be considered by shareholders at the Annual Meeting. |
A copy of the amendment of the Company's 2015 Omnibus Stock Incentive Plan, as approved by the shareholders at the Annual Meeting, is filed as Exhibit 10.1 hereto.
Set forth below are the number of votes cast for or against each such matter as well as the number of abstentions and broker non-votes with respect to each such matter.
|
Item |
For |
Against |
Withheld/ Abstain |
Broker Non-Votes |
|
Election of Directors |
||||
|
William H. Cameron |
26,403,210 |
385,474 |
7,195,593 |
|
|
Diane B. Glossman |
26,506,654 |
282,030 |
7,195,593 |
|
|
Glen F. Hoffsis |
26,492,663 |
296,021 |
7,195,593 |
|
|
Howard K. Landis III |
26,246,667 |
542,017 |
7,195,593 |
|
|
James S. Mahan III |
26,760,708 |
27,976 |
7,195,593 |
|
|
Miltom E. Petty |
26,704,918 |
83,766 |
7,195,593 |
|
|
Jerald L. Pullins |
26,496,335 |
292,349 |
7,195,593 |
|
|
Neil L. Underwood |
26,739,555 |
49,129 |
7,195,593 |
|
|
William L. Williams III |
26,766,595 |
22,089 |
7,195,593 |
|
|
Amendment of 2015 Omnibus Stock Incentive Plan |
25,017,286 |
1,541,803 |
229,595 |
7,195,593 |
|
Ratification of the Selection of Dixon Hughes Goodman LLP as Independent Auditors of the Company for 2018 |
33,750,213 |
227,888 |
6,176 |
|
|
Proposal to Adjourn the Annual Meeting to a Later Date or Dates, If Necessary |
27,138,826 |
6,657,995 |
187,456 |
|
Item 5.07. |
Financial Statements and Exhibits. |
Live Oak Bancshares, Inc. ExhibitEX-10.1 2 ex101-sipamendment.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AMENDMENT OF THE LIVE OAK BANCSHARES,…To view the full exhibit click here
About LIVE OAK BANCSHARES, INC. (NASDAQ:LOB)
Live Oak Bancshares, Inc. is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals. It offers commercial and industrial loans, construction and development loans, and owner occupied commercial real estate loans for agriculture, death care management, healthcare, independent pharmacies, registered investment advisors and veterinary industry, among others. The Company also offers commercial land loans for agriculture. It owns Live Oak Grove, LLC, which provides company employees and business visitors an on-site restaurant location, and Government Loan Solutions, Inc., a management and technology consulting company, among others.
