Severn Bancorp, Inc. (NASDAQ:SVBI) Files An 8-K Submission of Matters to a Vote of Security HoldersITEM 5.07
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Severn Bancorp, Inc. (NASDAQ:SVBI) Files An 8-K Submission of Matters to a Vote of Security Holders
Severn Bancorp, Inc. (the Company) held its Annual Meeting of Shareholders on April 27, 2017, at which time it (a) elected three (3) individuals to serve a three-year term as director, and (b) ratified the appointment of BDO USA, LLP as the Companys independent auditor for the fiscal year ending December 31, 2017, and (c) confirmed the Companys executive compensation.
The names of the directors who were elected at the Annual Meeting of Shareholders for a three year term are as follows:
|
Nominee
|
Votes For
|
Votes Withheld
|
Broker Non-Votes
|
|
David S. Jones
|
6,445,759
|
147,787
|
2,282,307
|
|
John Lamon
|
6,576,550
|
16,996
|
2,282,307
|
|
Konrad Wayson
|
6,367,021
|
226,526
|
2,282,307
|
The names of the directors whose terms of office continued after the Annual Meeting of Shareholders are as follows:
Alan J. Hyatt
Raymond Crosby
James H. Johnson, Jr.
Eric Keitz
Albert Shields
Mary Kathleen Sulick
The shareholders of the Company ratified the appointment BDO USA, LLP as Bancorps independent auditor for the fiscal year ending December 31, 2017 as follows:
|
Votes For
|
Votes Against
|
Votes Abstain
|
|
|
Appointment of BDO, LLP as independent auditor
|
8,743,999
|
121,071
|
10,783
|
The Shareholders of the Company approved the Companys Executive Compensation Plan, referred to as Say on Pay.
|
Votes For
|
Votes Against
|
Votes
Abstain
|
Broker Non-
Votes
|
|
|
Approval of the Companys Executive Compensation Plan
|
6,206,412
|
127,249
|
259,885
|
2,282,307
|
About Severn Bancorp, Inc. (NASDAQ:SVBI)
Severn Bancorp, Inc. is a savings and loan holding company. The Company conducts business through its subsidiaries, Severn Savings Bank, FSB (the Bank) and SBI Mortgage Company (SBI). The Bank offers a range of deposit products and originates mortgages in its market of Anne Arundel County, Maryland and in other parts of Maryland, Delaware and Virginia. SBI is engaged in the origination of mortgages not suitable for the Bank. SBI owns subsidiary companies that purchase real estate for investment purposes. The Bank provides a range of personal and commercial banking services. Personal services include mortgage lending and various other lending services, as well as checking, savings, money market, time deposit and individual retirement accounts. Commercial services include commercial secured and unsecured lending services, as well as business Internet banking, corporate cash management services and deposit services. Severn Bancorp, Inc. (NASDAQ:SVBI) Recent Trading Information
Severn Bancorp, Inc. (NASDAQ:SVBI) closed its last trading session 00.00 at 7.20 with 483 shares trading hands.
Severn Bancorp, Inc. is a savings and loan holding company. The Company conducts business through its subsidiaries, Severn Savings Bank, FSB (the Bank) and SBI Mortgage Company (SBI). The Bank offers a range of deposit products and originates mortgages in its market of Anne Arundel County, Maryland and in other parts of Maryland, Delaware and Virginia. SBI is engaged in the origination of mortgages not suitable for the Bank. SBI owns subsidiary companies that purchase real estate for investment purposes. The Bank provides a range of personal and commercial banking services. Personal services include mortgage lending and various other lending services, as well as checking, savings, money market, time deposit and individual retirement accounts. Commercial services include commercial secured and unsecured lending services, as well as business Internet banking, corporate cash management services and deposit services. Severn Bancorp, Inc. (NASDAQ:SVBI) Recent Trading Information
Severn Bancorp, Inc. (NASDAQ:SVBI) closed its last trading session 00.00 at 7.20 with 483 shares trading hands.
