Shore Bancshares Files 8-K on Shareholder Votes & Financials
Ticker: SHBI · Form: 8-K · Filed: Jun 5, 2024 · CIK: 1035092
| Field | Detail |
|---|---|
| Company | Shore Bancshares INC (SHBI) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, financial-reporting, regulatory-filing
TL;DR
Shore Bancshares filed an 8-K on June 5th covering shareholder votes and financials.
AI Summary
Shore Bancshares, Inc. filed an 8-K on June 5, 2024, reporting on matters submitted to a vote of security holders and financial statements. The filing also indicates potential amendments to articles of incorporation or bylaws and a change in fiscal year. The company is incorporated in Maryland and its principal executive offices are located in Easton, Maryland.
Why It Matters
This filing provides updates on corporate governance and financial reporting for Shore Bancshares, Inc., which is important for investors to understand the company's current status and any potential changes.
Risk Assessment
Risk Level: low — The filing is a routine 8-K reporting on corporate actions and financial statements, not indicating any immediate financial distress or significant negative events.
Key Numbers
- 000-22345 — SEC File Number (Identifies the company's SEC filing history.)
- 52-1974638 — IRS Employer Identification No. (Tax identification for the company.)
Key Players & Entities
- SHORE BANCSHARES, INC. (company) — Registrant
- Maryland (jurisdiction) — State of incorporation
- June 5, 2024 (date) — Date of report
- 18 E. Dover St., Easton, Maryland 21601 (address) — Principal executive offices
- 410-763-7800 (phone_number) — Registrant's telephone number
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.
Does the filing indicate a change in Shore Bancshares' fiscal year?
Yes, the filing lists 'Change in Fiscal Year' as an item of information, suggesting a potential change.
What is the primary business of Shore Bancshares, Inc.?
Shore Bancshares, Inc. is classified under 'NATIONAL COMMERCIAL BANKS [6021]'.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated June 5, 2024.
Where are Shore Bancshares, Inc.'s principal executive offices located?
The principal executive offices are located at 18 E. Dover St., Easton, Maryland 21601.
Filing Stats: 809 words · 3 min read · ~3 pages · Grade level 10.4 · Accepted 2024-06-05 09:30:44
Filing Documents
- shbi-20240605.htm (8-K) — 38KB
- exhibit31amendedbylaws.htm (EX-3.1) — 83KB
- shbi-20240605_g1.jpg (GRAPHIC) — 69KB
- 0001628280-24-026765.txt ( ) — 446KB
- shbi-20240605.xsd (EX-101.SCH) — 2KB
- shbi-20240605_lab.xml (EX-101.LAB) — 22KB
- shbi-20240605_pre.xml (EX-101.PRE) — 13KB
- shbi-20240605_htm.xml (XML) — 3KB
03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On May 30, 2024, the SHBI Board approved and adopted an amendment to the Second Amended and Restated By-Laws (the "Bylaws Amendment") to clarify in Section 2: Power and Duties of the Chairman and Vice Chairman, that the Chairman, or if the Chairman is not independent, then the Lead Director, shall be an ex-officio member of all the standing committees of the Board of Directors. The foregoing summary of the Bylaws Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which (marked to show changes from the prior version) is filed hereto as Exhibit 3.1 to this Current Report and is incorporated herein by reference.
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. At the Annual Meeting, SHBI's shareholders voted on: (i) the election of four Class III directors to serve for a three-year term ending at the 2027 annual meeting of shareholders (Proposal 1); and (ii) the adoption of a non-binding advisory resolution approving the compensation of SHBI's named executive officers (" NEOs ") (Proposal 2). These matters were submitted to a vote through the solicitation of proxies. Each of the proposals is described in further detail in SHBI's Definitive Proxy Statement. Other than the two proposals addressed below and described in the SHBI's Definitive Proxy Statement filed with the SEC on April 16, 2024, no other proposal was submitted at the Annual Meeting for shareholder action. On the record date for the Annual Meeting, there were 33,210,522 shares of SHBI common stock issued, outstanding and entitled to vote. Shareholders holding 24,130,225 shares of SHBI common stock were present at the Annual Meeting, in person or represented by proxy. Each of the two proposals that were voted on at the Annual Meeting were approved by SHBI's shareholders. The results of the votes are set forth below: Proposal 1 – To elect four Class III directors to serve for a three-year term ending at the 2027 annual meeting of shareholders. For Against Abstain Alan J. Hyatt 16,603,107 7,471,157 55,961 Konrad M. Wayson 22,682,500 1,395,247 52,478 R. Michael Clemmer, Jr. 22,702,731 1,358,202 69,292 E. Lawrence Sanders, III 23,401,666 682,508 46,051 Proposal 2 – To adopt a non-binding advisory resolution approving the compensation of SHBI's NEOs. For Against Abstain 22,720,579 1,336,953 72,693
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The exhibits filed or furnished with this report are listed in the Exhibit Index. Exhibit Number Description 3.1 Amended and Restated Bylaws 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 2
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. SHORE BANCSHARES, INC. Dated: June 5, 2024 By: /s/ James M. Burke James M. Burke President and Chief Executive Officer 3