NORTHEAST BANCORP (NASDAQ:NBN) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07.Submission of Matters to a Vote of Security Holders.
On November 16, 2018, Northeast Bancorp (the “Company” or “Northeast”) held its 2018 annual meeting of shareholders. At the annual meeting, the shareholders elected each of Matthew B. Botein and Cheryl Lynn Dorsey as a director for a term of three years and until their respective successors are duly elected and qualified. In addition, the shareholders (i) approved, on an advisory, non-binding basis, the compensation of Northeast’s named executive officers; and (ii) ratified the appointment of RSM US LLP as Northeast’s independent registered public accounting firm for the fiscal year ending June 30, 2019.
The voting results of each of the proposals submitted at the 2018 annual meeting of shareholders are set forth below:
1. To elect the two nominees named in the proxy statement as Class II directors, each to serve for a three-year term and until their respective successors are duly elected and qualified:
|
FOR |
WITHHELD |
BROKER NON-VOTES |
|
|
Matthew B. Botein |
5,910,008 | 330,447 | 1,204,840 |
|
Cheryl Lynn Dorsey |
6,007,074 | 233,381 | 1,204,840 |
2. To approve, on an advisory, non-binding basis, the compensation of Northeast’s named executive officers:
|
FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
| 5,801,723 | 235,771 | 202,961 | 1,204,840 |
3. To ratify the appointment of RSM US LLP as Northeast’s independent registered public accounting firm for the fiscal year ending June 30, 2019:
|
FOR |
AGAINST |
ABSTAIN |
BROKER NON-VOTES |
| 7,415,001 | 28,887 | 1,407 | — |
About NORTHEAST BANCORP (NASDAQ:NBN)
Northeast Bancorp is a bank holding company. The Company’s banking subsidiary is Northeast Bank (the Bank). The Company provides a range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its subsidiary. The Company conducts its loan-related activities through three primary channels: the Community Banking Division, the Loan Acquisition and Servicing Group (LASG), and the Small Business Administration (SBA) Division. It offers various loans, such as commercial and industrial loans, consumer loans, multi-family and other commercial real estate loans, and residential loans. It originates residential mortgage loans secured by one- to four-family properties throughout Maine, southern New Hampshire, and Massachusetts. Its deposit products consist of demand deposit, negotiable order of withdrawal (NOW), money market, savings and certificate of deposit accounts.