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ASBB > SEC Filings for ASBB > Form 8-K on 24-May-2013All Recent SEC Filings

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Form 8-K for ASB BANCORP INC


24-May-2013

Submission of Matters to a Vote of Security Holders, Other Events, Financial Stat


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

(a) The annual meeting of stockholders of ASB Bancorp, Inc. (the "Company") was held on May 23, 2013. As of the April 4, 2013 record date, there were 5,305,323 shares of common stock outstanding, all of which were entitled to vote. There were 4,895,951 shares present in person or by proxy.

(b) The final vote results for each of the matters submitted to a vote of stockholders at the annual meeting were as follows:

1. The stockholders elected the following individuals as directors of the Company, each to serve for a three-year term or until their respective successors have been elected and qualified, by the following vote:

                                             BROKER
                        FOR      WITHHELD   NON-VOTES
Suzanne S. DeFerie   3,564,713   151,375    1,179,863
Leslie D. Green      3,532,188   183,900    1,179,863
Wyatt S. Stevens     3,409,738   306,350    1,179,863

2. The stockholders ratified the appointment of Dixon Hughes Goodman LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013 by the following vote:

                                    BROKER
   FOR      AGAINST   ABSTAIN     NON-VOTES
4,809,976    9,950    76,025    Not applicable

3. The stockholders approved, on a non-binding advisory basis, the compensation of the Company's named executive officers by the following vote:

                                 BROKER
   FOR      AGAINST   ABSTAIN   NON-VOTES
3,491,614   134,445   90,029    1,179,863

4. The stockholders approved, on a non-binding advisory basis, the frequency of future shareholder "say on pay" advisory votes by the following vote:

             EVERY     EVERY               BROKER
  EVERY       TWO      THREE                NON-
  YEAR       YEARS     YEARS    ABSTAIN     VOTES
3,401,779   112,471   114,444   87,394    1,179,863

The Company has determined to include in its proxy materials the stockholder advisory vote on the compensation of its named executive officers on an annual basis.

(c) Not applicable.

(d) Not applicable.



Item 8.01 Other Events.

Beginning May 24, 2013, the Company will make available and distribute to analysts and prospective investors the slide presentation made at the Company's annual meeting on May 23, 2013. The presentation materials include information regarding the Company's operating and growth strategies and financial performance. The presentation materials will also be posted to the Company's website on May 24, 2013. The presentation materials are attached hereto as Exhibit 99.1.

On May 24, 2013, the Company issued a news release announcing that the Company's Board of Directors approved a stock repurchase program whereby the Company may repurchase up to 5%, or 265,266 shares, of its outstanding common stock. For further information, reference is made to the Company's news release dated May 24, 2013, a copy of which is attached to this Report as Exhibit 99.2 and is furnished herewith.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Number   Description

99.1     Presentation Materials

99.2     News Release Dated May 24, 2013

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