Meridian Corporation Announces Annual Meeting of Shareholders on May 21, 2024
Ticker: MRBK · Form: DEF 14A · Filed: Apr 4, 2024 · CIK: 1750735
| Field | Detail |
|---|---|
| Company | Meridian CORP (MRBK) |
| Form Type | DEF 14A |
| Filed Date | Apr 4, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: Meridian Corp, MRBK, DEF 14A, Annual Meeting, Proxy Statement
Related Tickers: MRBK
TL;DR
<b>Meridian Corporation is holding its annual shareholder meeting on May 21, 2024, to elect directors, vote on executive compensation, and ratify the independent auditor.</b>
AI Summary
Meridian Corp (MRBK) filed a Proxy Statement (DEF 14A) with the SEC on April 4, 2024. Meridian Corporation will hold its Annual Meeting of Shareholders on May 21, 2024, at 10:00 a.m. EST. Shareholders of record as of March 27, 2024, are eligible to vote. Key agenda items include the election of two Class A directors for a three-year term. A non-binding 'say-on-pay' proposal to approve executive compensation will be presented. The appointment of Crowe LLP as the independent auditor for fiscal year 2024 will be ratified.
Why It Matters
For investors and stakeholders tracking Meridian Corp, this filing contains several important signals. Shareholders have the opportunity to directly influence the company's governance by electing directors and approving executive compensation. The ratification of the independent auditor ensures continued oversight and financial transparency for the upcoming fiscal year.
Risk Assessment
Risk Level: low — Meridian Corp shows low risk based on this filing. The filing is a routine proxy statement with no immediate financial or operational concerns highlighted.
Analyst Insight
Review the proposed director nominees and executive compensation details to make informed voting decisions.
Key Numbers
- 2 — Directors to be elected (Election of two (2) 'Class A' directors)
- 3-year — Director term (to serve a three-year term expiring in 2027)
- 2024-05-21 — Annual Meeting Date (Annual Meeting of Shareholders To Be Held on May 21, 2024)
- 2024-03-27 — Record Date (shareholders of record at the close of business on March 27, 2024)
Key Players & Entities
- Meridian Corporation (company) — Registrant and Name of Registrant as Specified In Its Charter
- Crowe LLP (company) — Corporation's independent auditor
- Michael Curry (person) — Corporate Secretary
- May 21, 2024 (date) — Annual Meeting date
- March 27, 2024 (date) — Record Date for shareholders
- 2027 (date) — Director term expiration year
- December 31, 2024 (date) — Fiscal year end for auditor appointment
- 9 Old Lincoln Highway (location) — Corporate Headquarters address
FAQ
When did Meridian Corp file this DEF 14A?
Meridian Corp filed this Proxy Statement (DEF 14A) with the SEC on April 4, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Meridian Corp (MRBK).
Where can I read the original DEF 14A filing from Meridian Corp?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Meridian Corp.
What are the key takeaways from Meridian Corp's DEF 14A?
Meridian Corp filed this DEF 14A on April 4, 2024. Key takeaways: Meridian Corporation will hold its Annual Meeting of Shareholders on May 21, 2024, at 10:00 a.m. EST.. Shareholders of record as of March 27, 2024, are eligible to vote.. Key agenda items include the election of two Class A directors for a three-year term..
Is Meridian Corp a risky investment based on this filing?
Based on this DEF 14A, Meridian Corp presents a relatively low-risk profile. The filing is a routine proxy statement with no immediate financial or operational concerns highlighted.
What should investors do after reading Meridian Corp's DEF 14A?
Review the proposed director nominees and executive compensation details to make informed voting decisions. The overall sentiment from this filing is neutral.
Risk Factors
- Proxy Solicitation Compliance [low — regulatory]: The company must comply with SEC regulations for proxy statements and shareholder communications.
- Director Election Process [low — operational]: The election of directors is a critical governance process that requires shareholder participation and board oversight.
- Executive Compensation Approval [low — financial]: Shareholder approval of executive compensation ('say-on-pay') can impact employee morale and public perception.
- Independent Auditor Ratification [low — financial]: The ratification of the independent auditor is essential for financial reporting integrity and investor confidence.
Key Dates
- 2024-05-21: Annual Meeting of Shareholders — Shareholders will vote on directors, executive compensation, and auditor ratification.
- 2024-03-27: Record Date — Determines which shareholders are eligible to vote at the Annual Meeting.
- 2024-04-04: Filing Date — Date the definitive proxy statement was filed with the SEC.
Filing Stats: 4,715 words · 19 min read · ~16 pages · Grade level 15.9 · Accepted 2024-04-04 13:01:02
Filing Documents
- tm242723-3_def14a.htm (DEF 14A) — 617KB
- lg_meridiancorp-4c.jpg (GRAPHIC) — 13KB
- ic_tickmark-bw.jpg (GRAPHIC) — 3KB
- px_24meridianpxy1pg01-4c.jpg (GRAPHIC) — 392KB
- px_24meridianpxy1pg02-4c.jpg (GRAPHIC) — 240KB
- 0001104659-24-043523.txt ( ) — 1461KB
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 10 INFORMATION CONCERNING THE BOARD 12 Meetings of the Board and Its Committees 12 Director Related Party Transactions 13 Delinquent Section 16(a) Reports 13 Board and Committee Evaluations 13 Director Education and Board Development 13 Director Compensation 13 Risk Oversight 14 Audit Committee 18 INFORMATION CONCERNING EXECUTIVE COMPENSATION 20 Performance Highlights 20 2023 Performance Outcomes 20 2023 Key Compensation Decisions and Actions 20 General Information about Compensation and Our Basic Compensation Philosophy 21 The Role of Our Compensation Committee 21 Compensation Components and How They Are Set 21 Key Compensation Components 22 SUMMARY COMPENSATION TABLE 27 ALL OTHER COMPENSATION TABLE 28 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE 29 EXECUTIVE INCENTIVE, EMPLOYMENT AND CHANGE IN CONTROL AGREEMENTS 30 PROPOSAL 2—NON-BINDING SAY-ON-PAY PROPOSAL TO APPROVE THE COMPENSATION OF THE NAMED EXECUTIVE OFFICERS 31 PROPOSAL 3—PROPOSAL TO RATIFY THE APPOINTMENT OF CROWE LLP AS THE CORPORATION'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2024 32 OTHER MATTERS 33 MISCELLANEOUS 33 ADDITIONAL INFORMATION 33 i TABLE OF CONTENTS GENERAL INFORMATION Date, Time and Place of the Annual Meeting This Proxy Statement is being furnished to shareholders of Meridian Corporation (the "Corporation" or "Meridian") in connection with the solicitation by the Board of Directors, on behalf of the Corporation, of proxies to be used at the Corporation's Annual Meeting of Shareholders (the "Annual Meeting") to be held on May 21, 2024 at 10:00 a.m., and at any adjournments thereof. Shareholders Entitled to Vote at and Attend the Annual Meeting To be able to vote, you must have been a shareholder on March 27, 2024, the record date on which we determined shareholders