PACIFIC MERCANTILE BANCORP (NASDAQ:PMBC) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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PACIFIC MERCANTILE BANCORP (NASDAQ:PMBC) 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
Pacific Mercantile Bancorp (the Company) held its annual meeting of
shareholders on May 17, 2017. The Company’s shareholders voted on
the proposals listed below, each of which was described in the
Company’s proxy statement for the meeting. On the record date for
the meeting, there were 23,172,809 shares of the Company’s common
stock entitled to vote at the meeting.
Voting Results
Proposal 1 Election of Directors
The following individuals were elected as directors to serve until
the 2018 annual meeting of shareholders and until their successors
are elected and qualified. There were no nominees other than those
listed below. The voting results were as follows:
Votes For
Votes Withheld
Broker Non-Votes
Romir Bosu
16,923,726
1,638,865
3,486,651
Edward J. Carpenter
16,870,663
1,691,928
3,486,651
Warren T. Finley
16,922,427
1,640,164
3,486,651
John D. Flemming
16,687,984
1,874,607
3,486,651
Michael P. Hoopis
16,893,907
1,668,684
3,486,651
Denis Kalscheur
16,923,726
1,638,865
3,486,651
David J. Munio
16,923,726
1,638,865
3,486,651
John Thomas, M.D.
16,891,608
1,670,983
3,486,651
Thomas M. Vertin
16,918,899
1,643,692
3,486,651
Stephen P. Yost
16,924,726
1,637,865
3,486,651
Proposal 2 Ratification of the Appointment of Independent
Registered Public Accountants
The shareholders voted to ratify the appointment of RSM US LLP as
the Company’s independent registered public accounting firm for
the 2017 fiscal year. The results of voting were as follows:
Votes For
Votes Against
Abstain
Non-Votes
22,014,617
31,025
3,600
Proposal 3 Advisory Vote on the Compensation of Our Named Executive
Officers
The shareholders voted to approve a non-binding advisory
resolution concerning the Company’s 2016 executive compensation
as described in the Company’s proxy statement for the meeting.
The results of voting were as follows:
Votes For
Votes Against
Abstain
Broker Non-Votes
16,755,912
1,251,773
554,906
3,486,651


About PACIFIC MERCANTILE BANCORP (NASDAQ:PMBC)

Pacific Mercantile Bancorp is the holding company for Pacific Mercantile Bank (the Bank). The Company’s business operations are conducted by the Bank. It operates through commercial banking segment. The Bank offers its customers different loan products, including commercial loans and credit lines, accounts receivable and inventory financing, Small Business Administration (SBA) guaranteed business loans, and owner-occupied commercial real estate loans. Its investments primarily include securities available for sale, which consist of residential mortgage backed securities issued by the United States agencies; residential collateralized mortgage obligations issued by non agencies; asset backed security and mutual funds. Its sources of funds include deposits, and borrowings and contractual obligations. Its deposits consist of noninterest bearing demand deposits, interest-bearing checking accounts, money market and savings deposits, and time deposits.

PACIFIC MERCANTILE BANCORP (NASDAQ:PMBC) Recent Trading Information

PACIFIC MERCANTILE BANCORP (NASDAQ:PMBC) closed its last trading session up +0.05 at 7.90 with 42,129 shares trading hands.