Severn Bancorp, Inc. (NASDAQ:SVBI) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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Severn Bancorp, Inc. (NASDAQ:SVBI) 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
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 7.10 with 483 shares trading hands.