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SPBC > SEC Filings for SPBC > Form 8-K on 21-May-2013All Recent SEC Filings

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Form 8-K for SP BANCORP, INC.


21-May-2013

Submission of Matters to a Vote of Security Holders


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

On May 16, 2013, SP Bancorp, Inc. (the "Company") held its 2013 Annual Meeting of Stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders considered and voted upon the matters outlined in the Company's Definitive Proxy Statement on Schedule 14A (the "Proxy Statement") filed with the Securities and Exchange Commission on April 5, 2013. As of March 28, 2013, the record date for the Annual Meeting (the "Record Date"), 1,668,750 shares of the Company's common stock were entitled to vote at the Annual Meeting (including 30,000 shares of restricted stock that remain subject to vesting). Stockholders representing 1,483,403 shares of the Company's common stock, or approximately 88.9% of the shares of common stock issued and outstanding as of the Record Date, were present in person or by proxy at the Annual Meeting, which constituted a quorum for purposes of the Annual Meeting. A description of each matter voted upon at the Annual Meeting is set forth below:

1. The stockholders elected three Class III directors, each to serve for a three-year term and until their respective successors have been qualified and elected or their earlier death, retirement, resignation or removal. The final tabulation of votes on this matter was as follows:

Nominee              Votes Cast For Votes Withheld Votes Abstained Broker Non-Votes
Christopher C. Cozby   1,098,245          0            13,255          371,903
David C. Rader         1,095,349          0            16,151          371,903
Paul M. Zmigrosky      1,083,544          0            27,956          371,903

2. The stockholders ratified the appointment of Crowe Horwath LLP to serve as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013. The final tabulation of votes on this matter was as follows:

Votes Cast For Votes Cast Against Votes Abstained Broker Non-Votes 1,477,573 800 5,030 0

3. The stockholders approved, on an advisory basis, the compensation paid to the Company's named executive officers as disclosed in the Company's Proxy Statement. The final tabulation of votes on this matter was as follows:

Votes Cast For Votes Cast Against Votes Abstained Broker Non-Votes 1,081,553 22,239 7,708 371,903

4. The stockholders voted, on an advisory basis, and approved a one-year frequency for which the Company should hold future advisory votes on named executive officer compensation. The final tabulation of votes on this matter was as follows:

1 Year 2 Years 3 Years Votes Abstained Broker Non-Votes 549,404 53,654 498,927 9,515 371,903

In light of these results, the Company expects to publicly disclose within 150 days of the Annual Meeting, by an amendment to this Current Report on Form 8-K, its determination as to the frequency with which future advisory votes on named executive officer compensation will be held.


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