New Peoples Bankshares, Inc. (OTCMKTS:NWPP) 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
New Peoples Bankshares, Inc. (the Company) held its 2017 Annual
Shareholders Meeting (the Annual Meeting) on May 16, 2017. A
total of 23,355,457 shares of the Companys Common Stock were
entitled to vote as of March 22, 2017, the record date for the
Annual Meeting. There were 15,671,087 shares present at the
Annual Meeting in person or by proxy, and the shareholders voted
on three proposals.
Proposal 1: Election of Directors
The shareholders elected three directors to serve three-year
terms expiring in 2020. The three directors elected to serve the
three-year terms were John D. Cox, Charles H. Gent, Jr., and
Eugene S. Hearl. The results of the vote were as follows:
| Nominees | Votes FOR | Votes Withheld | Broker Non-Votes | Uncast Votes | ||||
| John D. Cox | 14,092,192 | 87,987 | 1,485,188 | 5,720 | ||||
| Charles H. Gent, Jr. | 14,100,053 | 85,846 | 1,485,188 | – | ||||
| Eugene S. Hearl | 14,057,358 | 128,541 | 1,485,188 | – |
Proposal 2: Advisory Vote to Approve Named Executive
Officer Compensation
The shareholders approved a non-binding advisory resolution to
approve the compensation of the Companys named executive
officers. The results of the vote follow:
| Votes FOR | Votes AGAINST | Votes ABSTAIN | Broker Non-Votes | Uncast Votes | ||||
| 13,821,696 | 168,279 | 190,204 | 1,485,188 | 5,720 | ||||
Proposal 3: Ratification of the Appointment of
Independent Registered Public Accounting Firm
The shareholders voted to ratify the Companys Audit Committee of
the Board of Directors appointment of Elliott Davis Decosimo, LLC
to serve as its independent registered public accounting firm for
the year ending December 31, 2017. The results of the vote
follow:
| Votes FOR | Votes AGAINST | Votes ABSTAIN | Uncast Votes | |||
| 15,549,855 | 40,852 | 74,660 | 5,720 | |||
| Item 8.01 | Other Events |
On May 16, 2017, members of management of the Company made a
presentation at the Annual Meeting. A copy of the presentation is
attached to this report as Exhibit 99.1 and is being furnished to
the Securities and Exchange Commission and shall not be deemed
filed for any purpose.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | The following exhibit is included with this report: |
| Exhibit No. | Exhibit Description | |
| 99.1 |
Presentation of the Company delivered at the 2017 Annual Shareholders Meeting |
About New Peoples Bankshares, Inc. (OTCMKTS:NWPP)
New Peoples Bankshares, Inc. is a Virginia bank holding company. The Company’s business is conducted primarily through New Peoples Bank, Inc. (the Bank), a Virginia banking corporation. The Bank has a division doing business as New Peoples Financial Services, which offers investment services through its broker dealer relationship with LPL Financial Services, Inc. NPB Insurance Services, Inc. is a subsidiary of the Bank and offers insurance services only. The Bank offers a range of short-to-medium term commercial, one- to four-family residential mortgages and personal loans. Its investment services include fixed income products, variable annuities, mutual funds, indexed certificates of deposit, individual retirement accounts, employee group benefit plans, college savings plans, financial planning, managed money accounts and estate planning. Its deposit products include demand deposit, interest-bearing demand deposit, savings deposit, and money market deposit accounts. New Peoples Bankshares, Inc. (OTCMKTS:NWPP) Recent Trading Information
New Peoples Bankshares, Inc. (OTCMKTS:NWPP) closed its last trading session 00.00 at 1.65 with 300 shares trading hands.
