The First Bancshares, Inc. (OTCMKTS:FBSI) 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. |
On May 25, 2017 the Company held its annual meeting of
shareholders (Annual Shareholders Meeting) in Hattiesburg,
Mississippi. As of March 31, 2017, the record date for the Annual
Shareholders Meeting, there were 9,144,412 shares of common stock
outstanding and entitled to vote, of which 6,277,818 shares, or
68.65%, were voted in person or by proxy at the Annual
Shareholders Meeting. The Companys shareholders voted on the
following four proposals, casting their votes as set forth below:
Proposal 1. Election of Directors
Each of the individuals listed below was elected at the Annual
Shareholders Meeting to serve a three year term on the Companys
Board of Directors expiring in 2020, as indicated below.
| Nominees | Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||
| Class I | ||||||||
| Ted E. Parker | 5,243,909 | 25,138 | 1,785 | 1,006,986 | ||||
| J. Douglas Seidenburg | 5,243,809 | 25,238 | 1,785 | 1,006,986 | ||||
| Rodney D. Bennett, Ed.D | 5,238,209 | 30,838 | 1,785 | 1,006,986 |
The individual listed below was elected at the Annual
Shareholders Meeting to serve a one year term on the Companys
Board of Directors expiring in 2018, as indicated below.
| Nominee | Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||
| Class II | ||||||||
| Thomas E. Mitchell | 5,243,709 | 25,338 | 1,785 | 1,006,986 |
Proposal 2. Ratification of Appointment of T.E. Lott
Company as Independent Registered Public Accounting
Firm
Proposal 2 was a proposal to ratify the appointment of T.E. Lott
Company as the Company’s independent registered public
accounting firm to audit the books of the Company and its
subsidiaries for 2017. This proposal was approved.
| Votes For | Votes Against | Abstentions | Broker Non-Votes | |||
| 6,271,724 | 4,300 | 1,794 |
Proposal 3. Advisory Vote on Executive
Compensation
Proposal 3 was an advisory vote on compensation of named
executive officers as disclosed in the proxy materials for the
Annual Shareholders Meeting. This advisory vote was approved.
| Votes For | Votes Against | Abstentions | Broker Non-Votes | |||
| 5,145,702 | 8,086 | 117,044 | 1,006,986 |
Proposal 4. Advisory Vote on Frequency of Advisory
Vote on Executive Compensation
Proposal 4 was an advisory vote on the frequency of future
advisory votes on the compensation of our named executive
officers. This advisory vote was approved for 1 year.
| 1 Year | 2 Years | 3 Years | Abstentions | Broker Non-Votes | ||||
| 4,864,217 | 7,706 | 182,667 | 216,242 | 1,006,986 |
In accordance with the results of the vote on Proposal 4, the
Company, based on the recommendation of its board of directors
and the vote of its stockholders, determined to implement an
annual advisory vote on the compensation of the Companys named
executive officers until the next required vote on the frequency
of stockholder votes on the compensation of the Companys named
executive officers. The Company is required to hold a vote on
frequency every six years so the next vote on frequency will be
held in 2023.
About The First Bancshares, Inc. (OTCMKTS:FBSI)
First Bancshares, Inc. is a holding company of First Home Savings Bank (the Bank). The Bank is primarily engaged in providing a range of banking and mortgage services to individual and corporate customers in southern Missouri. The Bank offers its services in various categories, such as online banking, personal banking and business banking. The Bank’s FirstNet provides access for various banking needs. FirstNet is a free service, including free online BillPay, which is accessible from home or office. Its personal banking services include personal checking accounts, personal savings and money market accounts, personal certificate of deposits and individual retirement accounts, and deposit rates. Its business banking services include business checking accounts, and business savings and money market accounts. The Bank has seven branch facilities in Marshfield, Ava, Kissee Mills, Gainesville, Sparta, Crane and Springfield, which are located in Missouri. The First Bancshares, Inc. (OTCMKTS:FBSI) Recent Trading Information
The First Bancshares, Inc. (OTCMKTS:FBSI) closed its last trading session 00.00 at 12.00 with 189 shares trading hands.