Middlefield Banc Corp. (NASDAQ:MBCN) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07
Middlefield Banc Corp. (the “Company”) held its Annual Meeting of Shareholders (the “Meeting”) on May16, 2018 in Aurora, Ohio. Three proposals were voted upon at the Meeting, which were (1)the election of four (4)persons to serve as directors of the Company for a three-year term expiring at the 2021 Annual Meeting; (2)approving a non-binding advisory vote regarding the compensation of the Company’s named executive officers as disclosed in its proxy statement; and (3)the ratification of the selection of S. R. Snodgrass, A.C. as the independent registered public accountants for the fiscal year ending December31, 2018. The proposals are described in detail in the Proxy Statement mailed to shareholders on or about April4, 2018.
The results of the proposals appear below:
Proposal 1. Election of Directors for a three-year term:
| Votes | Broker | ||
|
Nominee |
Votes For | Withheld | Non-Votes |
|
Thomas W. Bevan |
1,801,778 | 118,875 | 618,140 |
|
James R. Heslop, II |
1,847,231 | 73,422 | 618,140 |
|
Clayton W. Rose, III |
1,855,169 | 65,484 | 618,140 |
|
Robert W. Toth |
1,835,122 | 85,530 | 618,140 |
Proposal 2. Non-binding advisory vote approving the compensation of the Company’s executive officers as disclosed in the proxy statement:
| Broker | |||
| For | Against | Abstentions | Non-Votes |
| 1,825,210 | 63,079 | 32,363 | 618,140 |
Proposal 3. Ratification of the selection of S. R. Snodgrass, A. C. as independent registered public accountants.
| Broker | |||
| For | Against | Abstentions | Non-Votes |
| 2,471,806 | 51,323 | 15,663 |
About Middlefield Banc Corp. (NASDAQ:MBCN)
Middlefield Banc Corp. is a bank holding company. The Company’s subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc. MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities and travelers’ checks. MBC offers online banking and bill payment services to individuals, and online cash management services to business customers through its Website at www.middlefieldbank.com. EMORECO engages in the resolution and disposition of troubled assets in central Ohio. MBC’s loan products include operational and working capital loans, loans to finance capital purchases, term business loans, residential construction loans, selected guaranteed or subsidized loan programs for small businesses, and consumer installment loans.
