First Seacoast Bancorp Announces 2024 Annual Meeting Details

TL;DR

<b>First Seacoast Bancorp will hold its 2024 Annual Meeting on May 30, 2024, to elect directors, approve an equity plan, and ratify auditors.</b>

AI Summary

First Seacoast Bancorp, Inc. (FSEA) filed a Proxy Statement (DEF 14A) with the SEC on April 22, 2024. Annual meeting scheduled for May 30, 2024, at 10:30 a.m. local time. Key agenda items include election of three directors, approval of the 2024 Equity Incentive Plan, and ratification of independent auditors. Stockholders of record as of April 2, 2024, are eligible to vote. Proxy voting is encouraged via mail, internet, or telephone. Wolf & Company, P.C. is proposed as the independent registered public accounting firm for fiscal year 2024.

Why It Matters

For investors and stakeholders tracking First Seacoast Bancorp, Inc., this filing contains several important signals. The meeting will address the election of directors and the approval of a new equity incentive plan, which could impact future executive compensation and shareholder dilution. Ratification of the independent auditor is a standard governance procedure, but any changes or concerns could signal underlying financial reporting issues.

Risk Assessment

Risk Level: low — First Seacoast Bancorp, Inc. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting with standard agenda items, indicating no immediate significant risks.

Analyst Insight

Stockholders should review the proposed equity incentive plan and director nominees before voting to ensure alignment with their investment objectives.

Key Numbers

• May 30, 2024 — Annual Meeting Date (Date of the annual meeting of stockholders.)
• 10:30 a.m. — Annual Meeting Time (Time of the annual meeting of stockholders.)
• April 2, 2024 — Record Date (Date to determine eligibility for voting.)
• 2024 — Fiscal Year End (Fiscal year for which Wolf & Company, P.C. is proposed as auditor.)

Key Players & Entities

• First Seacoast Bancorp, Inc. (company) — Registrant and filer of the proxy statement.
• First Seacoast Bank (company) — Subsidiary of First Seacoast Bancorp, Inc.
• James R. Brannen (person) — President and Chief Executive Officer of First Seacoast Bancorp, Inc.
• Michael J. Bolduc (person) — Corporate Secretary of First Seacoast Bancorp, Inc.
• Wolf & Company, P.C. (company) — Proposed independent registered public accounting firm.
• 2024 Equity Incentive Plan (other) — Plan to be approved by stockholders.

FAQ

Risk Factors

• Compliance with SEC Regulations [low — regulatory]: The company must comply with all regulations set forth by the Securities and Exchange Commission regarding proxy solicitations and annual meetings.
• Stockholder Participation [low — operational]: Ensuring sufficient stockholder participation and representation at the annual meeting is crucial for valid decision-making.

Industry Context

First Seacoast Bancorp, Inc. operates as a savings institution, a sector subject to specific regulatory oversight and market dynamics.

Regulatory Implications

As a federally chartered savings institution, First Seacoast Bancorp is subject to regulations from bodies like the Office of the Comptroller of the Currency (OCC) and the Federal Reserve.

What Investors Should Do

1. Review the biographies and qualifications of the director nominees.
2. Understand the terms and potential impact of the proposed 2024 Equity Incentive Plan.
3. Confirm the voting instructions and deadlines for proxy submission.

Key Dates

• 2024-05-30: Annual Meeting of Stockholders — Key date for voting on corporate matters and electing directors.
• 2024-04-02: Record Date — Determines which stockholders are eligible to vote at the annual meeting.
• 2024-04-22: Filing Date — Date the definitive proxy statement was filed with the SEC.

Year-Over-Year Comparison

This is a definitive proxy statement (DEF 14A) for the 2024 annual meeting, following standard SEC filing procedures.

Key Financial Figures

• $15,225 — consulting services were approximately $15,225. Nominating and Governance Committee

Filing Documents

• d702902ddef14a.htm (DEF 14A) — 362KB
• g702902g01a01.jpg (GRAPHIC) — 43KB
• g702902g01x01.jpg (GRAPHIC) — 327KB
• g702902g02a01.jpg (GRAPHIC) — 169KB
• g702902g02b02.jpg (GRAPHIC) — 50KB
• g702902g03c34.jpg (GRAPHIC) — 48KB
• 0001193125-24-104508.txt (&nbsp;) — 1242KB

From the Filing

DEF 14A 1 d702902ddef14a.htm DEF 14A DEF 14A SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 First Seacoast Bancorp, Inc. (Name of Registrant as Specified In Its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. April 22, 2024 Dear Fellow Stockholder: The annual meeting of stockholders of First Seacoast Bancorp, Inc., the holding company for First Seacoast Bank, will be held at First Seacoast Banks main office, located at 633 Central Avenue, Dover, New Hampshire, on Thursday, May 30, 2024, at 10:30 a.m., local time. It is important that your shares are represented at this meeting, regardless of the number of shares you own. To ensure your shares are represented, we urge you to vote promptly by completing and mailing the enclosed proxy card or by voting via the Internet or by telephone. Internet and telephone voting instructions appear on the enclosed proxy card. Sincerely, James R. Brannen President and Chief Executive Officer FIRST SEACOAST BANCORP, INC. 633 Central Avenue Dover, New Hampshire 03820 (603) 742-4680 NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS DATE AND TIME Thursday, May 30, 2024 10:30 a.m., local time PLACE First Seacoast Banks Main Office 633 Central Avenue Dover, New Hampshire ITEMS OF BUSINESS (1) To elect three directors to serve for a term of three years; (2) To approve the First Seacoast Bancorp, Inc. 2024 Equity Incentive Plan; (3) To ratify the appointment of Wolf & Company, P.C. to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2024; and (4) To transact any other business that may properly come before the meeting and any adjournment or postponement of the meeting. (Note: The Board of Directors is not aware of any other business to come before the meeting.) RECORD DATE To be eligible to vote, you must have been a stockholder as of the close of business on April 2, 2024. PROXY VOTING It is important that your shares be represented and voted at the meeting. You can vote your shares by completing the accompanying proxy card and returning it in the enclosed self-addressed envelope or by voting via the Internet or by telephone. Voting instructions are printed on the proxy card. You may revoke a proxy at any time before its exercise at the meeting by following the instructions in the accompanying proxy statement. BY ORDER OF THE BOARD OF DIRECTORS Michael J. Bolduc Corporate Secretary Dover, New Hampshire April 22, 2024 FIRST SEACOAST BANCORP, INC. PROXY STATEMENT FOR 2024 ANNUAL MEETING OF STOCKHOLDERS GENERAL INFORMATION First Seacoast Bancorp, Inc. is the holding company for First Seacoast Bank. In this proxy statement, we may also refer to First Seacoast Bancorp, Inc. as the Company, we, our or us and to First Seacoast Bank as the Bank. We are providing this proxy statement to you in connection with the solicitation of proxies by our Board of Directors for the 2024 annual meeting of stockholders and for any adjournment or postponement of the annual meeting. We will hold the annual meeting at First Seacoast Banks main office, located at 633 Central Avenue, Dover, New Hampshire, on Thursday, May 30, 2024 at 10:30 a.m., local time. We intend to mail this proxy statement and a proxy card to stockholders of record beginning on or about April 22, 2024. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON MAY 30, 2024 This proxy statement is available at www.proxydocs.com/FSEA . Also available at this website address is our Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, which includes our audited consolidated financial statements for the fiscal year ended December 31, 2023. INFORMATION ABOUT VOTING Who May Vote at the Meeting You are entitled to vote your shares of Company common stock if our records show that you held your shares as of the close of business on April 2, 2024. As of the close of business on April 2, 2024, a total of 5,077,164 shares of common stock were outstanding and entitled to be voted. Each share of common stock has one vote. Our Articles of Incorporation provides that record holders of our common stock who beneficially own, either directly or indirectly, more than 10% of our outstan

View Full Filing

View this DEF 14A filing on SEC EDGAR