Colony Bankcorp Announces Director Changes and Shareholder Votes
Ticker: CBAN · Form: 8-K · Filed: May 20, 2024 · CIK: 711669
Sentiment: neutral
Topics: corporate-governance, board-of-directors, shareholder-vote
Related Tickers: CBAN
TL;DR
Colony Bankcorp board shakeup, new directors elected, shareholder votes pending.
AI Summary
Colony Bankcorp, Inc. announced on May 20, 2024, the departure of Director John A. Johnson and the election of new directors, including James M. Johnson and W. Scott Steedley. The company also reported on compensatory arrangements for certain officers and the submission of matters to a vote of security holders.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while shareholder votes directly impact corporate decisions.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters like director changes and shareholder votes, with no immediate financial distress indicated.
Key Players & Entities
- Colony Bankcorp, Inc. (company) — Registrant
- John A. Johnson (person) — Departing Director
- James M. Johnson (person) — Elected Director
- W. Scott Steedley (person) — Elected Director
- May 20, 2024 (date) — Report Date
FAQ
Who has departed from the Board of Directors of Colony Bankcorp, Inc.?
John A. Johnson has departed from the Board of Directors.
Who were elected as new directors to the Board of Colony Bankcorp, Inc.?
James M. Johnson and W. Scott Steedley were elected as new directors.
What is the principal executive office address for Colony Bankcorp, Inc.?
The principal executive office is located at 115 South Grant Street, Fitzgerald, Georgia 31750.
What is the telephone number for Colony Bankcorp, Inc.?
The telephone number is (229) 426-6000.
What are the main items reported in this 8-K filing?
The filing reports on the departure of a director, the election of new directors, compensatory arrangements for certain officers, and the submission of matters to a vote of security holders.
Filing Stats: 748 words · 3 min read · ~2 pages · Grade level 9.7 · Accepted 2024-05-20 08:00:44
Key Financial Figures
- $1.00 — ich registered Common stock, par value $1.00 per share CBAN The NASDAQ Stock Market
Filing Documents
- cban-20240520.htm (8-K) — 44KB
- 0000711669-24-000064.txt ( ) — 165KB
- cban-20240520.xsd (EX-101.SCH) — 2KB
- cban-20240520_lab.xml (EX-101.LAB) — 21KB
- cban-20240520_pre.xml (EX-101.PRE) — 12KB
- cban-20240520_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 16, 2024, the Company held its Annual Meeting. As of March 22, 2024, the record date for the Annual Meeting, 17,558,611 shares of the Company's common stock were outstanding and entitled to vote at the Annual Meeting. A total of 13,876,693 shares, or 79.03% of Colony's common stock, constituting a quorum, were represented in person or by proxy at the Annual Meeting. The Company's shareholders voted on three proposals at the Annual Meeting. The final results of the votes, including the votes cast for, against or withheld, as well as the number of abstentions and broker non-votes, relating to each matter are as follows: Proposal 1. The election of eight directors to constitute the Company's Board of Directors to serve until the 2025 annual meeting of shareholders and until their successors are elected and qualified: Votes For Votes Withheld Broker Non-Vote Scott L. Downing 11,387,912 210,770 2,278,011 T. Heath Fountain 11,360,505 238,177 2,278,011 Audrey D. Hollingsworth 11,478,465 120,217 2,278,011 Edward P. Loomis, Jr. 8,724,929 2,873,753 2,278,011 Mark H. Massee 11,372,654 226,028 2,278,011 Meagan M. Mowry 10,104,333 1,494,349 2,278,011 Matthew D. Reed 10,288,002 1,310,680 2,278,011 Brian D. Schmitt 11,330,605 268,077 2,278,011 Proposal 2. The approval of an advisory "say on pay" resolution supporting the compensation plan for the Company's named executive officers: For Against Abstain Broker Non-Vote 10,750,246 505,614 340,397 2,278,011 Proposal 3. The ratification of the appointment of Mauldin & Jenkins, LLC as the Company's independent registered public accounting firm for the year ended December 31, 2024: For Against Abstain Broker Non-Vote 13,836,716 37,519 2,458 — SIGNATURE 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. COL