Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SBCF > SEC Filings for SBCF > Form 8-K on 28-May-2013All Recent SEC Filings

Show all filings for SEACOAST BANKING CORP OF FLORIDA | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SEACOAST BANKING CORP OF FLORIDA


28-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 23, 2013, Seacoast Banking Corporation of Florida (the "Company) held its Annual Meeting. Of the 94,857,215 shares of Common Stock outstanding as of the record date for the Annual Meeting, 88,251,626 shares were present at the meeting in person or by proxy. The final results of each of the proposals voted on by the Company's shareholders are described below:

Proposal 1 - Elect Directors: To re-elect four Class II directors. The vote for each director is as set forth below.

                                                 Number of Shares
            Nominee           Votes For        Votes Withheld       Broker Non-Votes
     John H. Crane             65,978,324          4,422,665            17,850,637
     Roger O. Goldman          68,582,426          1,818,563            17,850,637
     Dennis S. Hudson, Jr.     65,641,675          4,759,314            17,850,637
     Thomas E. Rossin          65,621,025          4,779,964            17,850,637

The four nominees were each re-elected by a plurality of the votes cast, and each will continue to serve as Class II directors with a term expiring at the Company's 2016 Annual Meeting.

Proposal 2 - Approval and Adoption of the Seacoast 2013 Incentive Plan: To consider and act upon a proposal to approve and adopt the Seacoast 2013 Incentive Plan, reserving for issuance 6,500,000 shares of Common Stock for such purpose

Number of Shares Votes For Votes Against Abstentions Broker Non-Votes 66,103,780 2,864,681 1,432,528 17,850,637

The vote required to approve this proposal was the affirmative vote of a majority of the votes cast on the proposal. Accordingly, this proposal was approved.

Proposal 3 - Ratification of Appointment of Independent Auditor: To ratify the appointment of KPMG LLP as independent auditor for the Company for the fiscal year ending December 31, 2013.

                                    Number of Shares
                    Votes For        Votes Against       Abstentions
                     87,373,183          369,160            509,283

The vote required to approve this proposal was the affirmative vote of a majority of the votes cast on the proposal. Accordingly, this proposal was approved.

Proposal 4 - Reverse Stock Split Extension:To extend the time frame from May 23, 2013 to May 22, 2014 in which our Board of Directors is permitted to (i) effect a reverse stock split of our Common Stock at one of two reverse split ratios, 1-for-5 or 1-for-10, as determined by the Board of Directors in its sole discretion, and (ii) reduce the number of authorized shares of our Common Stock by the reverse stock split ratio determined by the Board of Directors.

                                    Number of Shares
                    Votes For        Votes Against       Abstentions
                     82,561,961         4,998,440           691,225

The vote required to approve this proposal was the affirmative vote of a majority of the votes cast on the proposal. Accordingly, this proposal was approved. The Board of Directors has not made a determination as to whether it will affect a reverse stock split or the ratio or timing of any reverse stock split.

Proposal 5 - Advisory (Non-binding) Vote on Compensation of Named Executive Officers: To allow shareholders to endorse or not endorse, on a non-binding basis, the compensation of the Company's named executive officers as disclosed in the proxy statement:

Number of Shares Votes For Votes Against Abstentions Broker Non-Votes 66,299,293 2,456,060 1,645,636 17,850,637

The vote required to approve this non-binding advisory resolution was the affirmative vote of a majority of the votes cast on the proposal. Accordingly, this proposal was approved.

Proposal 6 - Advisory (Non-binding) Vote on Frequency of Holding Future Advisory Votes on Executive Compensation. To allow shareholders to vote on whether future votes on executive compensation such as the one in Proposal 5 should occur every year, every two years, or every three years.

Number of Shares One Year Two Years Three Years Absentions Broker Non-Votes 54,089,431 1,074,395 13,034,749 2,202,414 17,850,637

The option of every "1 year" received the highest number of votes cast and therefor was deemed the frequency for the advisory vote on executive compensation selected by shareholders.

The Company's Board of Directors (the "Board") will take into account the outcome of the vote on the frequency of holding future advisory votes on executive compensation, and disclose its decision in an amendment to this Current Report on Form 8-K or on the Company's next Quarterly Report on Form 10-Q. The Board may decide that it is in the best interest of our shareholders to hold an advisory vote on executive compensation less frequently than the option approved by our shareholders.

  Add SBCF to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SBCF - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.