BayCom Corp Elects New Directors, Amends Executive Contracts

TL;DR

BayCom adds two directors, rejigs exec pay. Board shakeup incoming.

AI Summary

BayCom Corp announced on June 18, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David L. Johnson and Michael J. McShane, to its board. Additionally, the company entered into new employment agreements with certain executive officers, including an amended employment agreement with its CEO, Daniel P. Myers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and management stability.

Key Players & Entities

• BayCom Corp (company) — Registrant
• David L. Johnson (person) — Newly elected director
• Michael J. McShane (person) — Newly elected director
• Daniel P. Myers (person) — CEO of BayCom Corp
• June 18, 2024 (date) — Date of earliest event reported

FAQ

Filing Documents

• bcml-20240618x8k.htm (8-K) — 83KB
• 0001730984-24-000051.txt ( ) — 203KB
• bcml-20240618.xsd (EX-101.SCH) — 3KB
• bcml-20240618_lab.xml (EX-101.LAB) — 16KB
• bcml-20240618_pre.xml (EX-101.PRE) — 10KB
• bcml-20240618x8k_htm.xml (XML) — 5KB

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. The Company held its 2024 Annual Meeting on June 18, 2024. Holders of record of the Company's common stock at the close of business on April 19, 2024, were entitled to vote at the 2024 Annual Meeting. The final voting results of each proposal are set forth below. Proposal I – Election of Directors The Company's shareholders approved the election of James S. Camp, Harpreet S. Chaudhary, Keary L. Colwell, George J. Guarini, Lloyd W. Kendall, Jr., Janet L. King, Robert G. Laverne, MD and Syvia L. Magid as directors of the Company for a one year term to expire in the year 2025. For Withheld Broker Non-Vote James S. Camp 6,898,044 425,428 668,076 Harpreet S. Chaudhary 6,389,991 933,481 668,076 Keary L. Colwell 7,018,895 304,577 668,076 George J. Guarini 7,251,916 71,566 668,076 Lloyd W. Kendall, Jr. 6,246,677 1,076,795 668,076 Janet L. King 7,221,336 102,136 668,076 Robert G. Laverne, MD 6,271,845 1,051,627 668,076 Syvia L. Magid 6,411,530 912,208 667,810 Proposal II – Advisory (non-binding) vote on executive compensation The Company's shareholders approved the advisory (non-binding) vote on executive compensation. Number of Votes For 6,983,763 Against 328,490 Abstain 11,494 2 Proposal III – Advisory (non-binding) vote as to whether future advisory votes on executive compensation should be held every one year, every two years or every three years The Company's shareholders approved every One Year for the frequency of future advisory (non-binding) votes on executive compensation. Number of Votes One Year 5,084,454 Two Years 8,919 Three Years 1,704,738 Abstain 525,637 The Company's board of directors has determined, in light of the results of the vote on this item, that the Company will hold an advisory vote on executive compensation every year until the next required vote on the frequency of

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. BAYCOM CORP Date: June 21, 2024 By: /s/Keary L. Colwell Keary L. Colwell, Senior Executive Vice President, Chief Financial Officer and Secretary ( Principal Financial and Accounting Officer ) 4

View Full Filing

View this 8-K filing on SEC EDGAR