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

ME Staff 8-k

6 years ago

Timberland Bancorp, Inc. (NASDAQ:TSBK) 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.

Timberland Bancorp, Inc. (“Company”), the holding company for Timberland Bank, held its Annual Meeting of Shareholders on Tuesday, January 22, 2019 in Hoquiam, Washington. The results of the vote for the four items presented at the meeting were as follows:

1.	Election of Directors:

Shareholders elected the following nominees to the Board of Directors for a three-year term ending 2022 by the following vote:

For	Against	Broker Non-Votes
Number of Votes	Percentage	Number of Votes	Percentage	Number of Votes	Percentage
Larry D. Goldberg	4,809,256	96.45	177,236	3.55	2,160,953	N/A
David A. Smith	4,792,627	96.11	193,865	3.89	2,160,953	N/A

Shareholders elected the following nominee to the Board of Directors for a one-year term ending 2020 by the following vote:

For

Against

Broker Non-Votes

Number

of Votes

Percentage

Number

of Votes

Percentage

Number

of Votes

Percentage

Daniel D. Yerrington

4,726,055

94.78

260,437

5.22

2,160,953

N/A

The following directors, who were not up for re-election at the Annual Meeting of Shareholders, will continue to serve as directors: Jon C. Parker, Michael R. Sand, Michael J. Stoney, Andrea M. Clinton, James A. Davis, and Kathy D. Leodler.

2.	Advisory (Non-Binding) Vote on Compensation of Named Executive Officers:

Shareholders approved an advisory (non-binding) vote on the compensation of the Company’s named executive officers as follows:

Number of Votes	Percentage
For	4,839,476	97.05
Against	114,773	2.30
Abstain	32,243	0.65
Broker non-votes	2,160,953	N/A

3.	Advisory (Non-Binding) Vote on Advisory Vote on Executive Compensation. Shareholders approved an advisory (non-binding) vote on executive compensation every year, as follows:

Number of Votes	Percentage
One Year	4,081,303	82.37
Two Years	178,764	3.61
Three Years	694,679	14.02
Broker non-votes	2,185,209	N/A

4.	Ratification of Appointment of Independent Auditor:

Shareholders ratified the appointment of Delap LLP as the Company’s independent auditor for the fiscal year ending September 30, 2019 by the following vote:

Number of Votes	Percentage
For	7,123,103	99.66
Against	15,703	0.22
Abstain	8,639	0.12

About Timberland Bancorp, Inc. (NASDAQ:TSBK)

Timberland Bancorp, Inc. is the holding company for Timberland Savings Bank, SSB (the Bank). The Bank is a community-oriented bank, which offers a range of savings products to its retail customers while concentrating its lending activities on real estate mortgage loans and commercial business loans. The Bank offers personal banking solutions, business solutions, lending solutions and additional services. The Bank’s principal lending activity consists of the origination of loans secured by first mortgages on owner-occupied, one- to four-family residences, or by commercial real estate and loans for the construction of one- to four-family residences. The Bank offers consumer loans and commercial business loans. The Bank originates both fixed-rate loans and adjustable-rate loans. The Bank also offers adjustable-rate mortgage loans. It originates three types of residential construction loans: custom construction loans, owner/builder construction loans and speculative construction loans.