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PLMT > SEC Filings for PLMT > Form 8-K on 17-May-2013All Recent SEC Filings

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Form 8-K for PALMETTO BANCSHARES INC


17-May-2013

Submission of Matters to a Vote of Security Holders, Regulation FD Disclo


Item 5.07 Submission of Matters to a Vote of Security Holders

On May 16, 2013, Palmetto Bancshares, Inc. (the "Company") held its 2013 Annual Meeting of Shareholders (the "Annual Meeting"). Of the 12,762,452 shares outstanding and entitled to vote at the Annual Meeting, 11,574,997 were present in person or by proxy, and the following matters were voted upon and approved by the Company's shareholders at the Annual Meeting:

                                                                                           Broker Non-
                                  Proposal                   Votes For    Votes Withheld      Votes
1    The election as Directors of all nominees listed
     below, each to serve a term as follows:
                   Term Expiring at the 2016 Annual
                   Meeting
                     Lee S. Dixon                            11,070,360          143,214       361,423
                     Samuel L. Erwin                         11,082,896          130,678       361,423
                     James J. Lynch                          11,136,402           77,172       361,423

                                  Proposal                   Votes For    Votes Against     Abstained
     The ratification of the appointment of Elliott Davis
2    LLC as our independent registered public accounting
     firm for fiscal year 2013.                              11,402,141          119,815        53,041

                                                                                                         Broker Non-
                                  Proposal                   Votes For    Votes Against     Abstained       Votes

     The amendment of the 2011 Stock Incentive Plan to
3    increase the number of shares of common stock
     issuable under the plan by 200,000 shares.
                                                             10,870,619          342,930            25       361,423



Item 7.01. Regulation FD Disclosure

During the Annual Meeting, an informational update was presented by Samuel L. Erwin, Chief Executive Officer. A copy of the presentation is attached as Exhibit 99.1 and is incorporated herein by reference.

The information in Item 7.01 is being furnished, not filed. Accordingly, the information in this Item 7.01 will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933 unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company that
(i) the information in this report is material or complete or (ii) investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.

The information in Item 7.01 and Exhibit 99.1 of Item 9.01 contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," and "projects," as well as similar expressions. Forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Factors which could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements include, but are not limited to: (1) the strength of the United States economy in general and the strength of the local economies in which the Company conducts its operations which could result in, among other things, a deterioration in the credit quality or a


reduced demand for credit, including the resultant effect on our loan portfolio and allowance for loan losses and the rate of delinquencies and amounts of charge-offs, or adverse changes in asset quality in our loan portfolio, which may result in increased credit-related losses and expenses; (2) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) and the impact of such conditions on the Company, and the timing and amount of future capital raising activities by the Company, if any; and (3) actions taken by banking regulatory agencies related to the banking industry in general and the Company or the Bank specifically. The assumptions underlying the forward-looking statements could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our Company or any person that the future events, plans, or expectations contemplated by our Company will be achieved. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the U.S. Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov), including the "Risk Factors" included therein. All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf is expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect changes in circumstances or events that occur after the date the forward-looking statements are made.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Item Number Exhibit
99.1 Presentation delivered at Palmetto Bancshares, Inc.'s Annual Meeting of Shareholders on May 16, 2013


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