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ANCB > SEC Filings for ANCB > Form 8-K on 17-Oct-2013All Recent SEC Filings

Show all filings for ANCHOR BANCORP

Form 8-K for ANCHOR BANCORP


17-Oct-2013

Submission of Matters to a Vote of Security Holders


Item 5.07 Submission of Matters to a Vote of Security Holders

(a) Anchor Bancorp's ("Company") 2013 Annual Meeting Shareholders ("Annual Meeting") was held on October 16, 2013.

(b) There were a total of 2,550,000 shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 2,418,248 shares of common stock were represented in person or by proxy, therefore a quorum was present.

The results of the vote for the proposals presented at the Annual Meeting were as follows:

Proposal 1. Election of Directors. Shareholders elected the following nominees to the Board of Directors for a three-year term by the following vote:

                                                                    BROKER
                                                                     NON-
                           FOR                    WITHHELD           VOTES
                              Percentage               Percentage
                                  of                       of
                   No. of       shares      No. of       shares     No. of
                    votes      present       Votes      present      votes

William K. Foster 1,259,104 74.9 421,597 25.1 737,547 Reid A. Bates 1,257,904 74.8 422,797 25.2 737,547

Based on the votes set forth above, William K. Foster and Reid A. Bates were each duly elected to serve as directors of the Company for a term of three years expiring at the annual meeting of shareholders in 2016 and until their successors have been duly elected and qualified.

The terms of Directors Robert D. Ruecker, Jerald L. Shaw, Douglas A. Kay, George W. Donovan and Terri L. Degner continued.

Proposal 2. Advisory (Non-Binding) Vote on Compensation of Named Executive Officers: Shareholders approved an advisory (non-binding) vote on the compensation of the Company's named executive officers as follows:

                                        Number
                                       of Votes  Percentage
                      For              1,333,228    82.0
                      Against            292,073    18.0
                      Abstain             55,400     -
                      Broker non-votes  737,547      -

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         1,358,992    83.6
                      Two Years           34,990     2.2
                      Three Years        231,414    14.2
                      Abstain             55,305     -
                      Broker non-votes   737,547     -


In light of the voting results with respect to this proposal, the Board of Directors determined to hold a shareholder advisory vote every year, to approve the compensation of the Company's named executive officers, commencing with its 2014 annual meeting of shareholders, and continuing thereafter until such time that the Board of Directors determines that a different frequency is in the best interest of the Company and its shareholders.

Proposal 4. Ratification of the Appointment of Independent Auditors. Shareholders ratified the appointment of Moss Adams LLP as the Company's independent auditor for the fiscal year ending June 30, 2014 by the following vote:

                                        Number
                                       of Votes  Percentage
                      For              2,389,047   100.0
                      Against               904      0
                      Abstain             28,297     -
                      Broker non-votes         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 June 30, 2014 was duly ratified by the shareholders.

(c) None.

(d) Not applicable.


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