SHORE BANCSHARES, INC. (NASDAQ:SHBI) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
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Submission of Matters to a Vote of Security Holders. |
At the Annual Meeting of Stockholders of Shore Bancshares, Inc.
(the Company) held on April 26, 2017 (the Annual Meeting), the
Companys stockholders voted on: (i) the election of four director
nominees (Proposal 1), (ii) the ratification of the appointment
of the Companys independent registered public accounting firm for
fiscal year 2017 (Proposal 2), (iii) the adoption of a
non-binding advisory resolution approving the compensation of the
Companys named executive officers (Proposal 3); and (iv) the
adoption of a non-binding advisory resolution approving the
frequency of future advisory votes on the compensation of the
Companys named executive officers (Proposal 4). These matters
were submitted to a vote through the solicitation of proxies.
Each of the proposals is described in further detail in the
Companys Definitive Proxy Statement. Other than the four
proposals addressed below and described in the Companys
Definitive Proxy Statement, no other proposal was submitted at
the Annual Meeting for stockholder action. Each of the four
proposals that were voted on at the Annual Meeting were approved
by the Companys stockholders. The results of the votes are set
forth below:
Proposal 1 – To elect four Class II directors to serve for a
three-year term ending at the 2020 Annual Meeting of
Stockholders.
| Class II Directors | ||||
| For | Withheld | Abstain | Broker Non-Votes | |
| Blenda W. Armistead | 7,540,961 | 1,057,905 | 6,040 | 1,772,680 |
| David W. Moore | 7,344,299 | 1,160,430 | 100,177 | 1,772,680 |
| David A. Fike | 7,540,493 | 1,048,215 | 16,198 | 1,772,680 |
| Clyde V. Kelly, III | 7,458,661 | 1,046,289 | 99,956 | 1,772,680 |
Proposal 2 – To ratify the appointment of Dixon Hughes Goodman,
LLP as the Companys independent registered public accounting firm
for fiscal year 2017.
| For | Against | Abstain | Broker Non-Votes |
| 10,332,756 | 31,333 | 13,497 | – |
Proposal 3 – To adopt a non-binding advisory resolution approving
the compensation of the Companys named executive officers.
| For | Against | Abstain | Broker Non-Votes |
| 5,429,492 | 3,149,803 | 25,611 | 1,772,680 |
Proposal 4 To adopt a non-binding advisory resolution approving
the frequency of future advisory votes on the compensation of the
Companys named executive officers.
| 3 years | 2 years | 1 year | Abstain | Broker Non-Votes |
| 1,181,520 | 140,153 | 7,145,147 | 138,086 | 1,772,680 |
About SHORE BANCSHARES, INC. (NASDAQ:SHBI)
Shore Bancshares, Inc. is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware. The Company is engaged in the banking business through CNB, a Maryland commercial bank with trust powers and The Talbot Bank of Easton, a Maryland commercial bank (the Banks). Its Insurance Products and Services segment provides a range of insurance products and services to businesses and consumers in the Company’s market areas. The Banks provide a range of commercial and consumer banking products and services to individuals, businesses, and other organizations in Kent County, Queen Anne’s County, Caroline County, Talbot County and Dorchester County in Maryland and in Kent County, Delaware. SHORE BANCSHARES, INC. (NASDAQ:SHBI) Recent Trading Information
SHORE BANCSHARES, INC. (NASDAQ:SHBI) closed its last trading session down -0.07 at 17.00 with 59,836 shares trading hands.
