Business Context and Reporting Period
This Form 8-K filing by Central Valley Community Bancorp (noted as Community West Bancshares in metadata) reports on the Annual Meeting of Shareholders held on May 18, 2016. The filing details the submission of matters to a vote of security holders, specifically the election of directors and the ratification of the independent auditor.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a current report regarding corporate governance events rather than a financial statement.
Material Changes
No material financial changes or operational updates are disclosed in this filing. The primary event is the completion of the shareholder voting process for the 2016 fiscal year.
Guidance, Outlook, and Governance Results
Director Election Results: All nominees proposed by the Board of Directors were elected to serve until the 2017 Annual Meeting. No other candidates were nominated. The voting tabulation is as follows:
| Director | Votes For | Votes Withheld | Broker Non-Votes |
|---|---|---|---|
| Daniel N. Cunningham | 7,885,838 | 323,381 | 1,318,802 |
| Edwin S. Darden, Jr. | 7,891,236 | 317,983 | 1,318,802 |
| Daniel J. Doyle | 7,884,848 | 324,371 | 1,318,802 |
| Frank T. ("Tommy") Elliott, IV | 8,122,221 | 86,998 | 1,318,802 |
| James M. Ford | 7,888,204 | 321,015 | 1,318,802 |
| Steven D. McDonald | 7,875,442 | 333,777 | 1,318,802 |
| Louis McMurray | 7,890,746 | 318,473 | 1,318,802 |
| William S. Smittcamp | 7,874,475 | 334,744 | 1,318,802 |
| Joseph B. Weirick | 7,873,331 | 335,888 | 1,318,802 |
Auditor Ratification: The appointment of Crowe Horwath LLP as the independent registered public accounting firm for the 2016 fiscal year was ratified by shareholders.
- For: 9,469,598
- Against: 14,283
- Abstain: 44,140
Investor Verification Checklist
- Verify the total number of shares outstanding to calculate the percentage of votes cast versus total equity.
- Review the April 13, 2016 proxy statement for detailed biographies of the elected directors and the rationale for the auditor selection.
- Confirm the term length for the newly elected directors (stated as until the 2017 Annual Meeting).
- Check subsequent filings for the company's Q2 2016 financial results, as this 8-K contains no financial data.