Southside Bancshares Files 8-K on Shareholder Votes and Events
Ticker: SBSI · Form: 8-K · Filed: May 16, 2024 · CIK: 705432
| Field | Detail |
|---|---|
| Company | Southside Bancshares Inc (SBSI) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, corporate-events, shareholder-vote
TL;DR
SOUTHSIDE BANCSHARES INC filed an 8-K on May 15th covering shareholder votes and other key events.
AI Summary
Southside Bancshares, Inc. filed an 8-K on May 16, 2024, reporting on matters submitted to a vote of security holders and other events that occurred on May 15, 2024. The filing details the company's corporate actions and significant events.
Why It Matters
This filing provides transparency to investors regarding important corporate decisions and events that may impact the company's operations and stock value.
Risk Assessment
Risk Level: low — This is a routine filing reporting on corporate events and shareholder votes, not indicating any immediate financial distress or significant operational change.
Key Numbers
- 20240515 — Date of Report (Earliest event reported)
- 20240516 — Filing Date (Date the report was filed with the SEC)
Key Players & Entities
- SOUTHSIDE BANCSHARES INC (company) — Registrant
- Texas (location) — State of Incorporation
- 1201 S. Beckham Avenue, Tyler, TX 75701 (address) — Principal Executive Offices
FAQ
What specific matters were submitted to a vote of security holders?
The filing indicates that matters were submitted to a vote of security holders, but the specific details of these matters are not elaborated upon in the provided text.
What were the 'Other Events' reported on May 15, 2024?
The filing states that 'Other Events' were reported on May 15, 2024, but the nature of these events is not detailed in the provided excerpt.
What is the company's IRS Employer Identification Number?
The company's IRS Employer Identification Number is 75-1848732.
When was Southside Bancshares, Inc. incorporated?
Southside Bancshares, Inc. was incorporated in Texas.
What is the company's Standard Industrial Classification code?
The company's Standard Industrial Classification code is 6022, categorized under 'State Commercial Banks'.
Filing Stats: 810 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-05-16 16:12:44
Key Financial Figures
- $1.25 — ange on which registered Common stock, $1.25 par value SBSI NASDAQ Global Select Mar
Filing Documents
- sbsi-20240515.htm (8-K) — 44KB
- 0000705432-24-000075.txt ( ) — 167KB
- sbsi-20240515.xsd (EX-101.SCH) — 2KB
- sbsi-20240515_lab.xml (EX-101.LAB) — 21KB
- sbsi-20240515_pre.xml (EX-101.PRE) — 12KB
- sbsi-20240515_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. On May 15, 2024, Southside Bancshares, Inc. (the "Company") held its 2024 Annual Meeting of Shareholders (the "Annual Meeting"). A total of 24,408,834 shares of the Company's common stock were represented in person or by proxy at the Annual Meeting, or 80.60%, of the 30,282,697 shares outstanding as of the record date, March 20, 2024. The Company's shareholders voted on three proposals at the Annual Meeting, as set forth below. Proposal 1 - Election of Directors Shareholders approved the election of four directors to serve for three-year terms expiring at the 2027 Annual Meeting of Shareholders and one director to serve for a one-year term expiring at the 2025 Annual Meeting of Shareholders. Final results were as follows: Term Expiring at the 2027 Annual Meeting: For Withheld Broker Non-Votes S. Elaine Anderson, CPA 19,336,603 718,410 4,353,821 Kirk A. Calhoun, M.D 19,506,531 548,482 4,353,821 Patricia A. Callan 18,588,008 1,467,005 4,353,821 John R. (Bob) Garrett 19,094,959 960,054 4,353,821 Term Expiring at the 2025 Annual Meeting: Tony K. Morgan, CPA 19,270,796 784,217 4,353,821 Proposal 2 - Say-on-Pay Vote Shareholders approved, on a non-binding advisory basis, the compensation of the Company's named executive officers, as described in the Company's proxy statement. Final results were as follows: For Against Abstain Broker Non-Votes 18,855,915 1,090,682 108,416 4,353,821 Proposal 3 - Ratification of Appointment of Independent Registered Certified Public Accounting Firm Shareholders ratified the appointment by the Company's Audit Committee of Ernst & Young LLP to serve as the Company's independent registered certified public accounting firm for the year ending December 31, 2024. Final results were as follows: For Against Abstain Broker Non-Votes 24,182,143 220,966 5,725 N/A
01. Other Events
Item 8.01. Other Events. In addition, effective as of the Annual Meeting, Donald W. Thedford retired as Vice-Chair of the Company's Board of Directors (the "Board"). Mr. Thedford will continue to serve as a director on the Board. The Board has selected H.J. Shands, III to serve as Vice-Chair effective immediately following the Annual Meeting. Mr. Shands has served as a Director of the Company and Southside Bank ("Southside") since 2017. Prior to joining Southside, Mr. Shands served as President and CEO of First Bank & Trust East Texas until its merger with the Company in 2017. Following the merger, Mr. Shands served as Southside's East Texas Regional President until his retirement in 2020. With over 40 years of professional banking experience along with service on various Company and Southside board committees, Mr. Shands has proven to be an integral part of the Board. Mr. Shands is an independent director and as Vice-Chair will serve as an ex-officio member of the Audit, Corporate Governance and Nominating, Compensation, Risk, and Information Technology, Digital Banking and Innovation Committees. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Southside Bancshares, Inc. Date: May 16, 2024 By: /s/ JULIE N. SHAMBURGER Julie N. Shamburger, CPA Chief Financial Officer (Principal Financial and Accounting Officer)