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GLBZ > SEC Filings for GLBZ > Form 8-K on 10-May-2013All Recent SEC Filings

Show all filings for GLEN BURNIE BANCORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GLEN BURNIE BANCORP


10-May-2013

Submission of Matters to a Vote of Security Holders


Item 5.07. Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Stockholders of Glen Burnie Bancorp (the "Company") was held on May 9, 2013. The matters submitted to the stockholders for a vote were:
(i) the election of four directors; (ii) a non-binding resolution approving the compensation of the executive officers named in the proxy statement; (iii) a non-binding vote on the frequency of stockholder votes on the compensation of the executive officers named in the proxy statement; and (iv) the authorization to accept the recommendation of the Company's Audit Committee with respect to the selection of TGM Group LLC as the Company's independent auditing firm for the Company's fiscal year ending December 31, 2013. The nominees submitted for election as directors were Thomas Clocker, F. William Kuethe, Jr., William N. Scherer, Sr. and Karen B. Thorwarth.

(i) The following are the voting results (in number of shares) with respect to the election of directors:

Name For Withhold Broker Non Votes Thomas Clocker 1,839,176 79,842 295,704 F. William Kuethe, Jr. 1,798,210 120,809 295,703 William N. Scherer, Sr. 1,839,159 79,860 295,703 Karen B. Thorwarth 1,835,245 83,774 295,703

As a result, all of the nominees were elected to serve as directors for terms of three years each and until their successors are duly elected and qualified. Directors not up for re-election and continuing in office after the Meeting are:
Norman E. Harrison, Jr., Michael G. Livingston, Edward L. Maddox, John E. Demyan, Charles Lynch, Jr., F. W. Kuethe, III, and Mary Lou Wilcox.

(ii) The results of the vote on the non-binding resolution approving the compensation of the executive officers named in the proxy statement were as follows:

Broker
For Against Abstain Non-Votes
1,816,949 23,341 78,665 295,767

As a result, the resolution was approved.

(iii) The results of the non-binding vote on the frequency of stockholder votes on the compensation of the executive officers named in the proxy statement were as follows:

Broker One Year Two Years Three Years Abstain Non-Votes 562,384 47,605 1,255,919 53,047 296,767

As a result, the frequency of three years was approved. Consistent with the non-binding vote of the stockholders, the Company has determined to hold future advisory votes on executive compensation every three years.

(iv) The results of the vote on the proposal to authorize selection of an auditor were as follows:

Broker
For Against Abstain Non-Votes
2,190,750 10,272 13,639 61

As a result, the proposal was approved.

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