SIERRA BANCORP (NASDAQ:BSRR) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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SIERRA BANCORP (NASDAQ:BSRR) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07submission of matters to a vote of security holders

The Company’s annual meeting of shareholders was held on May 27, 2020, at which time shareholders voted in favor of item 1, election of directors, item 2, ratification of appointment of independent accountants, and item 3, advisory vote on executive compensation.  Proxies were solicited by the Company’s management to Regulation 14 under the Securities Exchange Act of 1934.

A total of 12,705,572 shares were represented and voting at the meeting, constituting 83.6% of the 15,190,038 issued and outstanding shares entitled to vote at the meeting.  There was no solicitation in opposition to Management’s nominees for directorship as listed in the proxy statement, and all of such nominees were elected to the vote of shareholders.  The vote on the election of the four nominees to serve as Class I directors for two-year terms was as follows:

There were 2,147,213 broker non-votes received with respect to this each nominee.

The terms of the following directors continued after the shareholders’ meeting:  Albert L. Berra, Vonn R. Christenson, Laurence S. Dutto, Kevin J. McPhaill, and Gordon T. Woods.

The appointment of Eide Bailly LLC as the Company’s independent registered public accounting firm for 2020 was ratified, with the number of shares cast as follows:

For:12,681,524

Against:23,623

Abstain:425

The number voting “for” constituted 99.8% of the total number of shares represented and voting at the meeting with respect to proposal 2.  There were no broker non-votes with respect to this item.

The advisory vote on executive compensation was approved, with the number of shares cast as follows:

For:9,376,849

Against:1,139,346

Abstain:42,164

The number voting “for” constituted 88.8% of the total number of shares represented and voting at the meeting with respect to proposal 3.  There were 2,147,213 broker non-votes received with respect to this item.

About SIERRA BANCORP (NASDAQ:BSRR)

Sierra Bancorp is a bank holding company for Bank of the Sierra (the Bank). The Bank is a state-chartered bank, which offers a range of retail and commercial banking services. The Bank’s products and services are related to the business of lending money and accepting deposits. The Bank operates approximately 30 branch offices, an online branch, a real estate industries group, an agricultural credit division, a Small Business Administration (SBA) lending unit and a loan production office. Its Internet branch provides the ability to open deposit accounts online; an online banking option with bill-pay and mobile banking capabilities, including mobile check deposit; a customer service center that is accessible by toll-free telephone during business hours, and an automated telephone banking system. It offers a range of other banking products and services, including remote deposit capture and automated payroll services for business customers.