OceanFirst Financial Corp. Schedules Shareholder Vote for Merger
Ticker: OCFC · Form: 8-K · Filed: May 28, 2024 · CIK: 1004702
| Field | Detail |
|---|---|
| Company | Oceanfirst Financial CORP (OCFC) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger, acquisition, shareholder-vote
TL;DR
OCFC shareholders vote June 20 on merger with Capital Bancorp.
AI Summary
OceanFirst Financial Corp. announced on May 21, 2024, that it has scheduled a special meeting of its stockholders for June 20, 2024. The primary purpose of this meeting is to vote on the proposed merger with OceanFirst Bank, N.A. and the subsequent merger with Capital Bancorp, Inc. The company is seeking shareholder approval for these significant transactions.
Why It Matters
This filing indicates a crucial step towards the potential merger of OceanFirst Financial Corp. with Capital Bancorp, Inc., which could significantly alter the company's market position and operational landscape.
Risk Assessment
Risk Level: medium — Shareholder approval is required for the merger, and there's always a risk that the vote may not pass, or that regulatory hurdles could arise.
Key Players & Entities
- OceanFirst Financial Corp. (company) — Registrant
- OceanFirst Bank, N.A. (company) — Subsidiary bank involved in merger
- Capital Bancorp, Inc. (company) — Company to merge with
- June 20, 2024 (date) — Date of special shareholder meeting
- May 21, 2024 (date) — Date of earliest event reported
FAQ
What is the primary purpose of the special meeting of stockholders?
The primary purpose is to vote on the proposed merger with OceanFirst Bank, N.A. and the subsequent merger with Capital Bancorp, Inc.
When is the special meeting of stockholders scheduled to take place?
The special meeting is scheduled for June 20, 2024.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is May 21, 2024.
Which companies are involved in the proposed merger transactions?
OceanFirst Financial Corp. is involved in proposed merger transactions with OceanFirst Bank, N.A. and Capital Bancorp, Inc.
In which state is OceanFirst Financial Corp. incorporated?
OceanFirst Financial Corp. is incorporated in Delaware.
Filing Stats: 610 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-05-28 16:02:45
Key Financial Figures
- $0.01 — ange in which registered Common stock, $0.01 par value per share OCFC NASDAQ Deposi
Filing Documents
- ocfc-20240521.htm (8-K) — 48KB
- 0001004702-24-000088.txt ( ) — 208KB
- ocfc-20240521.xsd (EX-101.SCH) — 2KB
- ocfc-20240521_def.xml (EX-101.DEF) — 15KB
- ocfc-20240521_lab.xml (EX-101.LAB) — 27KB
- ocfc-20240521_pre.xml (EX-101.PRE) — 16KB
- ocfc-20240521_htm.xml (XML) — 4KB
07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS The Registrant's 2024 Annual Meeting was held on May 21, 2024 (the "Annual Meeting"). A total of 50,656,671 shares were present or represented by proxy at the Annual Meeting. The matters considered and voted on by the Registrant's stockholders at the Annual Meeting and the votes of the stockholders were as follows: Matter 1. The election of thirteen directors, each for a one-year term. Nominee Shares Voted For Shares Withheld Broker Non-Votes John F. Barros 43,893,982 461,361 6,301,328 Anthony R. Coscia 43,158,140 1,197,203 6,301,328 Jack M. Farris 43,671,002 684,341 6,301,328 Robert C. Garrett 43,888,044 467,299 6,301,328 Kimberly M. Guadagno 43,724,772 630,571 6,301,328 Nicos Katsoulis 43,849,467 505,876 6,301,328 Joseph J. Lebel III 43,343,592 1,011,751 6,301,328 Christopher D. Maher 43,142,006 1,213,337 6,301,328 Joseph M. Murphy, Jr. 43,973,981 381,362 6,301,328 Steven M. Scopellite 43,613,550 741,793 6,301,328 Grace C. Torres 43,569,706 785,637 6,301,328 Patricia L. Turner 43,861,013 494,330 6,301,328 Dalila Wilson-Scott 43,841,131 514,212 6,301,328 Matter 2. An advisory (non-binding) vote to approve the compensation paid to the Registrant's named executive officers. Shares Voted For Shares Voted Against Shares Voted Abstain Broker Non-Votes 36,259,390 7,692,922 403,031 6,301,328 Matter 3. The ratification of the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the Registrant for the fiscal year ending December 31, 2024. Shares Voted For Shares Voted Against Shares Voted Abstain Broker Non-Votes 50,185,790 368,360 102,521 —
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 hereunto duly authorized. OCEANFIRST FINANCIAL CORP. Dated: May 28, 2024 /s/ Patrick S. Barrett Patrick S. Barrett Executive Vice President and Chief Financial Officer