UNION BANKSHARES CORPORATION (NASDAQ:UBSH) Files An 8-K Submission of Matters to a Vote of Security Holders

ME Staff 8-k
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UNION BANKSHARES CORPORATION (NASDAQ:UBSH) 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.

Union Bankshares Corporation (the “Company”) held its annual
meeting of shareholders on May 2, 2017 (the “Annual Meeting”).
At the Annual Meeting, the Company’s shareholders: (i) elected
each of the persons listed below under Proposal 1 to serve as a
director of the Company in Class III for a term that will
continue until the designated date (Proposal 1); (ii) elected the
person listed below under Proposal 2 to serve as a director of
the Company in Class II for a term that will continue until the
designated date (Proposal 2); (iii) ratified the appointment of
Ernst Young LLP as the Company’s independent registered public
accounting firm for 2017 (Proposal 3); (iv) approved, on an
advisory (non-binding) basis, the Company’s executive
compensation disclosed in the Company’s 2017 Proxy Statement
(Proposal 4); and (v) voted, on an advisory (non-binding) basis,
for a frequency of one year for future advisory votes on the
Company’s executive compensation (Proposal 5).
The Company’s independent inspectors of election reported the
vote of the shareholders as follows:
Proposal 1: To elect six Class III directors to serve until the
2020 annual meeting of shareholders or the director’s mandatory
retirement date, whichever date is earlier:
Nominees:
Votes For
Votes Withheld
Broker Non-votes
G. William Beale
29,553,860
1,081,733
6,458,718
Gregory L. Fisher
30,303,283
332,310
6,458,718
Patrick J. McCann
30,203,745
431,847
6,458,718
Alan W. Myers
30,307,940
327,652
6,458,718
Linda V. Schreiner
30,321,553
314,039
6,458,718
Raymond D. Smoot, Jr.
30,282,790
352,802
6,458,718
Proposal 2: To elect one Class II director to serve until the
2019 annual meeting of shareholders:
Nominee:
Votes For
Votes Withheld
Broker Non-votes
John C. Asbury
30,336,062
299,418
6,458,718
Proposal 3: To ratify the appointment of Ernst Young LLP as the
Company’s independent registered public accounting firm for the
year ending December 31, 2017:
Votes For
Votes Against
Abstain
Broker Non-votes
36,946,571
96,037
51,839
Proposal 4: To approve, on an advisory (non-binding) basis, the
Company’s executive compensation as disclosed in the Company’s
2017 Proxy Statement:
Votes For
Votes Against
Abstain
Broker Non-votes
29,171,940
1,032,315
431,474
6,458,718
Proposal 5: To vote, on an advisory (non-binding) basis, on the
frequency of future advisory votes on the Company’s executive
compensation:
1 Year
2 Years
3 Years
Abstain
Broker Non-votes
23,048,242
382,592
6,757,295
447,350
6,458,718
In light of the shareholder vote on Proposal 5, and consistent
with the recommendation of the Company’s Board of Directors with
respect to Proposal 5, the Company will include an advisory
shareholder vote on the Company’s executive compensation in its
proxy materials once every year until the next required vote on
the frequency of shareholder votes on the Company’s executive
compensation.

Item 8.01 Other Events.
On May 2, 2017, the Company issued a press release announcing the
declaration of a quarterly dividend payable on May 26, 2017 to
shareholders of record as of May 12, 2017. A copy of the Companys
press release is attached as Exhibit 99.1 hereto and is hereby
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit No.
Description
99.1
Union Bankshares Corporation press release dated May
2, 2017.


About UNION BANKSHARES CORPORATION (NASDAQ:UBSH)

Union Bankshares Corporation, formerly Union First Market Bankshares Corporation, is a financial holding company and a bank holding company. The Company offers financial services through its community bank subsidiary, Union Bank & Trust and three non-bank financial services affiliates. The Company’s non-bank financial services affiliates are Union Mortgage Group, Inc. (UMG), Union Investment Services, Inc. and Union Insurance Group, LLC. The Company operates through two segments: its traditional full service community banking business and its mortgage banking business. The community bank segment includes one subsidiary bank, which provides loan, deposit, investment and trust services to retail and commercial customers throughout its over 131 retail locations in Virginia. The mortgage segment includes UMG, which provides a range of mortgage loan products in Virginia, North Carolina, South Carolina, Maryland, and the Washington D.C. metro area.

UNION BANKSHARES CORPORATION (NASDAQ:UBSH) Recent Trading Information

UNION BANKSHARES CORPORATION (NASDAQ:UBSH) closed its last trading session up +0.35 at 34.61 with 114,958 shares trading hands.