OHIO VALLEY BANC CORP. (NASDAQ:OVBC) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 of the Original Form 8-K to provide the Board of Directors' determination and to correct the date of the Original Form 8-K, which should have been May 10, 2017. No other changes are being made to the Original Form 8-K.
Item 5.07 Submission of Matters to a Vote of Security Holders.
As reported in the Original Form 8-K, the following were the results of the vote at the Annual Meeting on the frequency of advisory votes on executive compensation:
|
One Year |
2,720,947 |
|
Two Years |
151,416 |
|
Three Years |
142,510 |
|
Abstain |
263,636 |
|
Broker Non-votes |
628,994 |
In light of these voting results and the other factors considered by the directors in recommending to the shareholders a frequency of once every year, the Board of Directors determined at a meeting held on July 18, 2017, that the Company will hold an advisory vote on the compensation of the named executive officers every year until the next required advisory vote on the frequency of future non-binding advisory votes on executive compensation. Thus, the next advisory vote on executive compensation will occur at the annual meeting of the shareholders of the Company in 2018.
About OHIO VALLEY BANC CORP. (NASDAQ:OVBC)
Ohio Valley Banc Corp. is a financial holding company. The Company has a banking subsidiary, The Ohio Valley Bank Company (the Bank). The Company’s financial service operations are aggregated in two segments: banking and consumer finance. The Company also owns nonbank subsidiaries, which include Loan Central, Inc., which engages in lending; Ohio Valley Financial Services Agency, LLC, which is used to facilitate the receipt of commissions on insurances sold by the Bank and Loan Central, and OVBC Captive, Inc., a limited purpose property and casualty insurance company. The Company is engaged in certain non-banking activities, such as securities underwriting and dealing activities, insurance agency and underwriting activities, and merchant banking/equity investment activities. The Bank is a financial institution offering a range of commercial and consumer banking services within southeastern Ohio, as well as western West Virginia.