SECURITY FEDERAL CORPORATION (OTCMKTS:SFDL) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k

8 years ago

SECURITY FEDERAL CORPORATION (OTCMKTS:SFDL) 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 Security Federal Corporation (“Company”) was held on April 20, 2017.

(b)

There were a total of 2,945,474 shares of the Company’s
common stock outstanding and entitled to vote at the
Annual Meeting. At the Annual Meeting, 2,126,101 shares
of common stock were represented in person or by proxy,
therefore a quorum was present. The following proposals
were submitted by the Board of Directors to a vote of
shareholders:

Proposal 1. Election of Directors. The following
individuals were elected as directors:

	FOR		WITHHELD		BROKER NON-VOTES
	No. of votes		No. of votes		No. of votes

Robert E. Alexander		2,112,406		13,695		—
William Clyburn		2,111,051		15,050		—
Frank M. Thomas, Jr.		2,071,873		54,228		—

Based on the votes set forth above, Messrs. Alexander, Clyburn
and Thomas were duly elected to serve as directors of the Company
for a three year term expiring at the annual meeting of
shareholders in 2020, each to serve until their respective
successors have been duly elected and qualified.

The terms of Directors Timothy W. Simmons, Harry O. Weeks, Jr.
Roy G. Lindburg, Gasper L. Toole, III, Thomas L. Moore, J. Chris
Verenes and Richard T. Harmon continued.

Proposal 2. Advisory approval of the compensation of the
Company’s named executive officers. This proposal received the
following votes:

For		Percentage of shares present		Against		Percentage of shares present		Abstain		Percentage of shares present		Broker Non- Vote
2,090,101		98.31%		14,200		0.67%		21,800		1.02%		—

Based on the votes set forth above, the compensation of the
Company’s named executive officers was approved by shareholders.

Proposal 3. An advisory (non-binding) vote on whether
future advisory votes on executive compensation should be held
every one, two or three years.

One Year		Percentage		Two Years		Percentage		Three Years		Percentage		Abstain		Percentage
1,980,670		93.16%		90,612		4.26%		53,469		2.52%		1,350		0.06%

About SECURITY FEDERAL CORPORATION (OTCMKTS:SFDL)
Security Federal Corporation is a bank holding company for Security Federal Bank (the Bank). Through its subsidiary, the Company offers financial services. The Bank is a South Carolina chartered commercial bank with approximately 10 branch offices in Aiken, Richland and Lexington counties, South Carolina and Columbia County and Georgia. The principal business of the Bank is accepting deposits from the public and originating commercial real estate loans, commercial business loans, consumer loans, as well as mortgage loans to buy or refinance one- to four-family residential real estate. It also originates construction loans on single-family residences, multi-family dwellings and projects, and commercial real estate, as well as loans for the acquisition, development and construction of residential subdivisions and commercial projects. It operates Security Federal Trust and Investments, as a division of the Bank that offers trust, financial planning and financial management services. SECURITY FEDERAL CORPORATION (OTCMKTS:SFDL) Recent Trading Information
SECURITY FEDERAL CORPORATION (OTCMKTS:SFDL) closed its last trading session 00.00 at 27.75 with 100 shares trading hands.