WAYNE SAVINGS BANCSHARES, INC. (NASDAQ:WAYN) Files An 8-K Submission of Matters to a Vote of Security Holders
Item5.07
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Submission of Matters to a Vote of Security Holders |
On May25, 2017, Wayne Savings Bancshares, Inc. (the Company) held
its 2017 Annual Meeting of Stockholders (the Annual Meeting). On
May30, 2017, the independent inspector of elections for the
Annual Meeting delivered its preliminary tabulation of voting
results for each of the matters submitted to a vote at the Annual
Meeting. These voting results are only preliminary and may be
subject to change based upon the results of a customary review
and challenge process, should such process occur. The Company
will file an amendment to this Current Report on Form 8-K to
disclose the final certified voting results of the Annual Meeting
within four business days of the date on which the independent
inspector of elections makes the final voting results available
to the Company and certifies thereto.
According to the independent inspector of elections preliminary
tabulation of voting, there were present in person or by proxy
2,421,404 shares of the Companys common stock, representing 87%
of the total outstanding shares entitled to vote. There were no
broker non-votes on any matter submitted to a vote at the Annual
Meeting.
Proposal 1: To elect two (2)directors to serve until the 2020
annual meeting of stockholders.
Under plurality voting, the two nominees who receive the most FOR
votes are elected as directors. According to the preliminary
tabulation of voting results, the Companys stockholders elected
the Board of Directors two nominees, Daniel R. Buehler and Debra
A. Marthey, as directors for three-year terms. The preliminary
tabulation of voting results for the election of directors as
provided by the independent inspector of elections is set forth
below.
Board of Directors Nominees:
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Nominee |
For | Withheld | Broker Non-Votes | |||
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Daniel R. Buehler |
2,329,195 | 92,209 | ||||
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Debra A. Marthey |
1,180,218 | 81,242 |
Opposition Nominee:
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Nominee |
For | Withheld | Broker Non-Votes | |||
|
Stephen S. Burchett |
1,143,968 | 15,976 |
Proposal 2: Advisory vote on executive compensation.
According to the preliminary tabulation of voting results, the
Companys stockholders also adopted the advisory, non-binding
resolution to approve the Companys executive compensation, as
described in the Companys proxy statement, by the votes indicated
below.
| For | Against | Abstain | BrokerNon-Votes | |||
| 1,350,561 | 1,010,701 | 60,142 |
Proposal 3: To ratify the appointment of BKD, LLP as the
Companys independent registered public accounting firm for the
year ending December31, 2017.
According to the preliminary tabulation of voting results, the
Companys stockholders also ratified the appointment of BKD, LLP
as independent registered public accounting firm for the year
ending December31, 2017.
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Number of Votes: |
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| For | Against | Abstain | BrokerNon-Votes | |||
| 2,342,389 | 33,235 | 45,780 |
About WAYNE SAVINGS BANCSHARES, INC. (NASDAQ:WAYN)
Wayne Savings Bancshares, Inc. is the unitary thrift holding company for Wayne Savings Community Bank (the Bank). The Bank is a community-oriented institution, which offers a range of consumer and business financial services. The Bank’s primary lending and deposit gathering area includes Wayne, Holmes, Ashland, Medina and Stark counties, where it operates over 10 offices. The Bank’s principal business activities consist of originating one- to four-family residential real estate loans, multi-family residential, commercial and non-residential real estate loans. The Bank also originates non-real estate, secured commercial loans, consumer loans and construction loans. The Bank also invests in mortgage-backed securities, obligations issued by state and political subdivisions, and a small position of private-label collateralized mortgage obligations and other liquid investments, such as United States Government securities, federal funds, and deposits in other financial institutions. WAYNE SAVINGS BANCSHARES, INC. (NASDAQ:WAYN) Recent Trading Information
WAYNE SAVINGS BANCSHARES, INC. (NASDAQ:WAYN) closed its last trading session down -0.50 at 16.91 with 760 shares trading hands.