Parke Bancorp Proxy: Director Nominee Jannetti Passes Away

TL;DR

Parke Bancorp proxy filing confirms director nominee Anthony J. Jannetti has passed away. Sad news for shareholders.

AI Summary

Parke Bancorp, Inc. filed a Definitive Additional Materials proxy statement on April 5, 2024. The filing includes a letter to shareholders from the company, expressing sadness over the passing of Anthony J. Jannetti, who was a nominee for re-election as a director. The letter indicates that further details regarding director nominations and other matters will be provided.

Why It Matters

This filing is important for shareholders as it addresses the unexpected passing of a director nominee, which could impact board composition and future company governance. Shareholders need to be aware of any changes to the proposed slate of directors.

Risk Assessment

Risk Level: medium — The passing of a director nominee introduces uncertainty regarding board composition and potential strategic direction, which could affect investor confidence.

Key Players & Entities

• PARKE BANCORP, INC. (company) — Registrant
• Anthony J. Jannetti (person) — Director nominee
• April 5, 2024 (date) — Filing date

FAQ

Filing Documents

• d777127ddefa14a.htm (DEFA14A) — 19KB
• g777127g0404193741456.jpg (GRAPHIC) — 7KB
• g777127pase2.jpg (GRAPHIC) — 2KB
• 0001193125-24-088031.txt ( ) — 33KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 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 Rule 240.14a-12 Parke Bancorp, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): 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 5, 2024 Dear Fellow Shareholder: I am writing to you with great sadness to report that Anthony J. Jannetti, a nominee for re-election as a director of the Company in the Proxy Statement for our 2024 Annual Meeting of Shareholders, has passed away. Mr. Jannetti was a founding director of the Board of Directors beginning in 1999 and has continuously served with distinction since that time. He will be greatly missed by the entire Parke Bancorp family. In order to eliminate the vacancy created by Mr. Jannettis untimely passing, we have reduced the size of the Board by one member. I would also like to direct your attention to an updated table captioned Principal Holders of our Common Stock, originally appearing on pages 3 and 4 of our Proxy Statement mailed to you on March 22, 2024. This page is meant to supersede the table in our previous Proxy Statement, as a beneficial ownership change was filed just before our Record Date of March 13, 2024. The additional beneficial owner of more than 5% of our common stock is reflected appropriately in the page that follows. Sincerely, Vito S. Pantilione President and Chief Executive Officer PRINCIPAL HOLDERS OF OUR COMMON STOCK Persons and groups beneficially owning more than 5% of the Common Stock are required to file certain reports with the Securities and Exchange Commission regarding their ownership. A person is the beneficial owner of shares of Common Stock if he or she has or shares voting or investment power over the shares or has the right to acquire beneficial ownership of the shares at any time within 60 days from the Record Date. The following table sets forth information as of the Record Date with respect to the persons or groups known to the Company to beneficially own more than 5% of the Common Stock as well as directors and executive officers as a group. Name and Address of Beneficial Owner Amount and Nature of Beneficial Ownership (1) Percent of Common Stock Outstanding (2) BlackRock, Inc. 50 Hudson Yards New York, NY 10001 686,968 (3) 5.8% Alphabeta AI Multi Strategy, LP RPS Master- Investment Management RPS 2014 LP Ron Shemer Jacob Shemer 5 Arie Disenchik St., Tel Aviv, Israel 6935640 617,967 (4) 5.17% All Directors and Executive Officers as a Group (14 persons) 1,910,804 (5) 15.52% (1) For purposes of this table, a person is deemed to be the beneficial owner of shares of Common Stock if he or she shares voting or investment power with respect to such shares or has the right to acquire beneficial ownership within 60 days of the Record Date. As used herein, voting power is the power to vote or direct the voting of shares and investment power is the power to dispose or direct the disposition of shares. Except as otherwise noted, ownership is direct and the named persons or group exercise sole voting or investment power over the shares of Common Stock. (2) In calculating the percentage ownership of an individual or group, the number of shares outstanding is deemed to include any shares which the individual or group have the right to acquire within 60 days of the Record Date through the exercise of options or otherwise. (3) Based on a Schedule 13D filed on January 29, 2024. (4) Based on a Schedule 13D filed on March 5, 2024. (5) Includes 355,701 shares of Common Stock that may be acquired pursuant to the exercise of options within 60 days of the Record Date.

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View this DEFA14A filing on SEC EDGAR