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AKPB > SEC Filings for AKPB > Form 8-K on 28-Jun-2013All Recent SEC Filings

Show all filings for ALASKA PACIFIC BANCSHARES INC

Form 8-K for ALASKA PACIFIC BANCSHARES INC


28-Jun-2013

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


Item 5.07 Submission of Matters to a Vote of Security Holders

(a) The Annual Meeting of Stockholders ("Annual Meeting") of Alaska Pacific Bancshares, Inc. ("Company") was held on May 21, 2013.

(b) There were a total of 654,486 shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 471,198 shares of common stock were represented in person or by proxy, therefore a quorum was present. The following proposals were submitted by the Board of Directors to a vote of stockholders:

Proposal 1. Election of Directors. The following individual was elected as a director for the term indicated:

                                                   BROKER
                      FOR          WITHHELD      NON-VOTES

                  No. of votes   No. of votes   No. of votes
Three year term:

William A. Corbus   165,997         21,321        284,080
Maxwell S. Rule     159,208         28,110        284,080
Linda C. Thomas     157,208         30,110        284,080

Based on the votes set forth above, Mr. Corbus, Mr. Rule and Ms. Thomas were each duly elected to serve as directors of the Company for a term of three years expiring at the annual meeting of stockholders in 2016 and until their successors have been duly elected and qualified.

The terms of Directors Craig E. Dahl, Hugh N. Grant, Doug Andrew, and Scott C. Milner continued.

Proposal 2. Advisory approval of the compensation of the Company's named executive officers. This proposal received the following votes:

For Against Abstain Broker Non-Vote 158,146 17,617 11,555 284,080

Based on the votes set forth above, the compensation of the Company's named executive officers was approved by stockholders.

Proposal 3. Advisory (Non-Binding) Vote on Advisory Vote on Executive Compensation. Shareholders approved an advisory (non-binding) vote on executive compensation every year, as follows:

                   Number
                  of Votes  Percentage
One Year           77,156     41.28
Two Years          33,063     17.69
Three Years        75,193     40.23
Abstain             1,906      0.80
Broker non-votes  284,080       0

The Board of Directors is reviewing the voting results and will make a determination as to the frequency of holding a shareholder advisory vote, which will be reported in an amendment to this Form 8-K.


Proposal 4. Ratification of the appointment of Moss Adams LLP as the Company's independent auditors for the year ending December 31, 2013. This proposal received the following votes:

For Against Abstain Broker Non-Vote 438,040 45 33,313 0

Based on the votes set forth above, the appointment of Moss Adams LLP as the Company's independent auditors to serve for the year ending December 31, 2013 was duly ratified by the stockholders.

For additional information regarding the Annual Meeting, see the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference.

(c) None.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is being filed herewith and this list shall constitute the exhibit index:

99.1 Press Release of Alaska Pacific Bancshares, Inc. dated June 27, 2013.


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