Salisbury Bancorp, Inc. (NASDAQ:SAL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
(b) Effective May 17, 2017, the term of Louise F. Brown, as a
director of Salisbury Bancorp, Inc. (the Company) and its
subsidiary, Salisbury Bank and Trust Company (the Bank) ended and
Mrs. Brown has decided not to be nominated or serve for another
term. Mrs. Brown, age 73, has served on the Board of Directors of
the Company since 1998 and the Bank since 1992. The Board thanked
Mrs. Brown for her many years of service and extended to Mrs.
Brown the continued best wishes of everyone associated with the
Company and the Bank.
The Company announced with great sadness that Rudolph P. Russo
passed away suddenly on April 6, 2017. Mr. Russo, age 87, had
served as a member of the Board of Directors of the Company and
the Bank since December 2014.
| Item 5.07. | Submission of Matters to a Vote of Security Holders |
The 2017 Annual Meeting of Shareholders (Annual Meeting) of
Salisbury Bancorp, Inc. (Salisbury), the holding company for
Salisbury Bank and Trust Company (the Bank) was held on
Wednesday, May 17, 2017. On the record date of March 20, 2017,
there were 2,770,236 shares issued, outstanding and eligible to
vote, of which 2,182,776 shares, or 78.79%, were represented at
the Annual Meeting either in person or by proxy.
The results of matters voted upon are presented below:
| 1. |
Four (4) directors were elected by the shareholders to serve as directors of Salisbury for a three-year term, who along with the eight (8) directors whose terms do not expire at this meeting, will constitute the full Board of Directors of Salisbury: |
| Term | Votes For | Votes Withheld | Broker Non-votes | |
| Charles M. Andola | 3 years | 1,500,474 | 9,536 | 672,766 |
| George E. Banta | 3 years | 1,489,430 | 20,580 | 672,766 |
| Richard J. Cantele, Jr. | 3 years | 1,496,400 | 13,610 | 672,766 |
| Nancy F. Humphreys | 3 years | 1,497,850 | 12,160 | 672,766 |
| 2. |
The ratification of the appointment of Baker Newman Noyes, P.A., LLC as the independent registered public accounting firm for Salisbury for the fiscal year ending December 31, 2017. |
| Votes For | Votes Against | Abstentions | Broker Non-votes |
| 2,149,409 | 16,862 | 16,505 | – |
| 3. |
The non-binding advisory vote on the compensation of the named executive officers. |
| Votes For | Votes Against | Abstentions | Broker Non-votes |
| 1,397,263 | 55,910 | 56,837 | 672,766 |
| 4. | The Salisbury Bancorp, Inc. 2017 Long Term Incentive Plan. |
| Votes For | Votes Against | Abstentions | Broker Non-votes |
| 1,394,454 | 67,077 | 48,479 | 672,766 |
About Salisbury Bancorp, Inc. (NASDAQ:SAL)
Salisbury Bancorp, Inc. is a bank holding company for Salisbury Bank and Trust Company (the Bank). The Bank is a Connecticut-chartered and Federal Deposit Insurance Corporation (the FDIC) insured commercial bank. The Bank provides commercial banking, consumer financing, retail banking and trust and wealth advisory services through a network of over 10 banking offices and approximately nine automated teller machines (ATMs). The Bank originates commercial loans, commercial real estate loans, residential and commercial construction loans, residential real estate loans collateralized by one- to four- family residences, home equity lines of credit, fixed rate loans and other consumer loans. The Bank’s securities portfolio include the United States Government and Agency securities, mortgage-backed securities, collateralized mortgage obligations and tax exempt municipal bonds. The Bank uses deposits, repayments and sales, and borrowings to fund lending, investing and general operations. Salisbury Bancorp, Inc. (NASDAQ:SAL) Recent Trading Information
Salisbury Bancorp, Inc. (NASDAQ:SAL) closed its last trading session 00.00 at 39.50 with 3,029 shares trading hands.
