National Bankshares, Inc. (NASDAQ:NKSH) Files An 8-K Submission of Matters to a Vote of Security Holders
ITEM 5.07SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
On May 9, 2017, National Bankshares, Inc. held its 2017 Annual
Meeting of Stockholders (the Annual Meeting).A total of 6,957,974
shares of the Companys common stock were entitled to vote as of
March 15, 2017, the record date for the Annual Meeting.There were
6,147,514 shares, or 88.35%, present at the Annual Meeting in
person or by proxy which constituted a quorum, and the
stockholders voted on six proposals.
Proposal No. 1 Vote on Directors
The stockholders elected two Class 1 directors to serve a
one-year term expiring at the Companys 2018 Annual Meeting of
Stockholders.The results of the vote were as follows:
|
For |
Withheld |
Broker Non-Votes |
|
|
Michael E. Dye |
4,697,933 |
32,323 |
1,417,258 |
|
J. Lewis Webb, Jr. |
4,697,108 |
33,148 |
1,417,258 |
Proposal No. 2 Vote on Directors
The stockholders elected two Class 2 directors to serve a
two-year term expiring at the Companys 2019 Annual Meeting of
Stockholders.The results of the vote were as follows:
|
For |
Withheld |
Broker Non-Votes |
|
|
F. Brad Denardo |
4,600,105 |
130,151 |
1,417,258 |
|
Normal V. Fitzwater |
4,704,135 |
26,121 |
1,417,258 |
Proposal No. 3 Vote on Directors
The stockholders elected four Class 3 directors to serve a
three-year term expiring at the Companys 2020 Annual Meeting of
Stockholders.The results of the vote were as follows:
|
For |
Withheld |
Broker Non-Votes |
|
|
Charles E. Green, III |
4,701,123 |
29,133 |
1,417,258 |
|
Mildred R. Johnson |
4,693,022 |
37,234 |
1,417,258 |
|
William A. Peery |
4,693,839 |
36,417 |
1,417,258 |
|
James C. Thompson |
4,701,223 |
29,033 |
1,417,258 |
The terms of office of the following directors who did not stand
for re-election continued after the Annual Meeting:Lawrence J.
Ball, John E. Dooley, Jack M. Lewis, Mary M. Miller, James G.
Rakes and Glenn P. Reynolds.
Proposal No. 4 Advisory Vote to Approve Named Executive
Officer Compensation
The stockholders approved a non-binding advisory vote to approve
the compensation of the Companys named executive officers.The
results of the vote were as follows:
|
For |
Against |
Abstain |
Broker Non-Votes |
|
4,559,392 |
89,317 |
81,547 |
1,417,258 |
Proposal No. 5 Advisory Vote on Frequency of Stockholder Vote
to Approve Executive Compensation
The stockholders approved a non-binding advisory vote to approve
the compensation of the named executive officers every one, two
or three years.
|
1 year |
2 year |
3 year |
Abstain |
Broker Non-Votes |
|
4,145,004 |
123,760 |
364,611 |
96,879 |
1,417,260 |
Proposal No. 6 Ratification of Appointment of
Independent Public Accounting Firm
The stockholders voted to ratify the Companys Board of Directors
appointment of Yount, Hyde Barbour, P.C. to serve as its
independent registered public accounting firm for the fiscal year
ending December 31, 2017.The results of the vote were as follows:
|
For |
Against |
Abstain |
Broker Non-Votes |
|
6,117,299 |
9,393 |
20,822 |
About National Bankshares, Inc. (NASDAQ:NKSH)
National Bankshares, Inc. (NBI) is a financial holding company. The Company conducts its operations through its community bank subsidiary, the National Bank of Blacksburg (NBB or the Bank). NBB offers a range of retail and commercial banking services to individuals, businesses, non-profits and local governments. NBB, which does business as National Bank, focuses lending on small and mid-sized businesses and individuals. NBB’s loan types include commercial and agricultural, commercial real estate, construction for commercial and residential properties, residential real estate, home equity and various consumer loan products. The Company’s investment portfolio includes corporate bonds. NBI’s primary source of funds is deposits. Deposit products offered by the Bank include interest-bearing and non-interest bearing demand deposit accounts, money market deposit accounts, savings accounts, certificates of deposit and individual retirement accounts. National Bankshares, Inc. (NASDAQ:NKSH) Recent Trading Information
National Bankshares, Inc. (NASDAQ:NKSH) closed its last trading session down -0.10 at 40.40 with 5,599 shares trading hands.