MAGYAR BANCORP, INC. (NASDAQ:MGYR) 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
The 2019 Annual Meeting of Stockholders of Magyar Bancorp, Inc. (the “Company”) was held on February 13, 2019 (the “Annual Meeting”). The matters considered and voted on by the Company’s stockholders at the Annual Meeting and the vote of the stockholders was as follows:
Matter 1. The election of John S. Fitzgerald, Thomas Lankey and Joseph A. Yelencsics,as directors of the Company, each to serve a three-year term and until his successors are elected and qualified.
| Nominee | Shares Voted For | Shares Withheld | Broker Non-Votes |
| John S. Fitzgerald | 4,277,330 | 695,894 | 654,753 |
| Thomas Lankey | 4,276,735 | 696,489 | 654,753 |
| Joseph A. Yelencsics | 4,273,388 | 699,836 | 654,753 |
Matter 2. The advisory, non-binding resolution to approve the compensation paid to the Company’s named executive officers.
| For | Against | Abstain | Broker non-votes |
| 4,081,951 | 848,720 | 42,553 | 654,753 |
Matter 3. The resolution with respect to the frequency that stockholders will vote on the compensation paid to the Company’s named executive officers.
| One Year | Two Years | Three Years | Abstain |
Broker non-votes |
| 1,079,891 |
32,617 |
3,826,932 | 33,284 | 655,253 |
Matter 4. The ratification of the appointment of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2019.
| Shares Voted For | Shares Voted Against | Abstentions |
Broker non-votes |
| 5,559,858 | 16,963 | 51,156 | — |
| Item 9.01 | Financial Statements and Exhibits |
| (a) | Financial Statements of businesses acquired. Not Applicable. |
| (b) | Pro forma financial information. Not Applicable. |
| (c) | Shell Company Transactions. Not Applicable |
About MAGYAR BANCORP, INC. (NASDAQ:MGYR)
Magyar Bancorp, Inc. is a holding company of Magyar Bank (the Bank). The Bank’s principal business consists of attracting retail deposits from the public in the areas surrounding its main office in New Brunswick, New Jersey and its branch offices located in Middlesex and Somerset Counties, New Jersey. The Bank invests these deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, small business administration (SBA) loans, construction loans and investment securities. The Bank’s primary sources of funds are deposits, borrowings, and principal and interest payments on loans and securities. The Bank’s deposits include certificates of deposit, demand, savings, negotiable order of withdrawal (NOW) and money market accounts.
