SANDY SPRING BANCORP, INC. (NASDAQ:SASR) 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 |
| (a) |
The annual meeting of the shareholders of Sandy Spring Bancorp, Inc. (the Company) was held on May 3, 2017. |
| (b) |
The matters considered and voted on by the shareholders at the annual meeting and the vote of the shareholders were as follows: |
1.The shareholders elected the following individuals as
directors, each for a three-year term, by the following vote:
| Name |
Shares Voted For |
Votes Withheld | ||
| Mark E. Friis | 17,127,607 | 176,787 | ||
| Pamela A. Little | 17,113,860 | 187,534 | ||
| James J. Maiwurm | 17,109,403 | 191,991 | ||
| Craig A. Ruppert | 17,103,631 | 197,763 |
There were 3,164,846 broker non-votes in the election of
directors.
2.The shareholders voted in favor of the non-binding resolution
to approve the compensation of the named executive officers by
the following vote:
| Shares Voted For | Shares Voted Against | Abstentions | ||
| 16,491,226 | 540,866 | 269,302 |
There were 3,164,846 broker non-votes on the proposal.
3.The shareholders voted in favor of a 1 year frequency of the
shareholder approval of compensation for the named executive
officers by the following vote:
| One Year | Two Years | Three Years | Abstentions | |||
| 13,694,088 | 50,822 | 3,427,896 | 128,588 |
In line with the Companys current practice and these voting
results, the Company has determined to continue to hold future
advisory votes on executive compensation on an annual basis until
the Company considers the results of the next shareholder
advisory vote regarding the frequency of the advisory vote on
executive compensation.
4.The shareholders ratified the appointment of Ernst Young LLP as
the Companys independent registered public accounting firm for
the fiscal year ending December 31, 2017 by the following vote:
| Shares Voted For | Shares Voted Against | Abstentions | ||
| 20,234,911 | 140,125 | 91,204 |
There were no broker non-votes on the proposal.
About SANDY SPRING BANCORP, INC. (NASDAQ:SASR)
Sandy Spring Bancorp, Inc. is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking, Insurance and Investment Management. Its Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses. The Insurance segment operates through Sandy Spring Insurance Corporation, a subsidiary of the Bank, and offers annuities as an alternative to traditional deposit accounts. The Investment Management segment operates through West Financial Services, Inc., a subsidiary of the Bank, which provides investment management and financial planning services. Its product portfolio includes loan and lease products, deposit activities, treasury activities and borrowing activities. The Bank operates over 45 community offices located in Central Maryland, Northern Virginia, and Washington D.C. SANDY SPRING BANCORP, INC. (NASDAQ:SASR) Recent Trading Information
SANDY SPRING BANCORP, INC. (NASDAQ:SASR) closed its last trading session 00.00 at 43.58 with 51,601 shares trading hands.
