Business Context and Reporting Period
This Form 8-K Current Report was filed by OceanFirst Financial Corp. on June 27, 2019, regarding events occurring on June 26, 2019. The registrant is a Delaware corporation with its principal executive offices in Red Bank, NJ, and its common stock trades on NASDAQ under the symbol OCFC.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report is limited to corporate governance updates.
Material Changes
The primary material change reported is the expansion of the Board of Directors. The Board size was increased to 14 members to accommodate the appointment of Steven M. Scopellite as a new director. Mr. Scopellite was also appointed to the Board of Directors of the registrant's banking subsidiary, OceanFirst Bank N.A.
Outlook, Risks, and Management Commentary
Management commentary is limited to the selection process, noting that Mr. Scopellite was chosen by the Registrant's Leadership Committee. He is scheduled to stand for re-election at the 2020 Annual Meeting of Stockholders. The filing states that the specific Board Committees on which Mr. Scopellite will serve have not yet been determined. No new risks, contingencies, or unusual items were disclosed in this report.
Key Facts for Investor Verification
- Steven M. Scopellite was appointed to the Board of Directors on June 26, 2019.
- The Board of Directors size was increased to 14 members.
- Mr. Scopellite will stand for re-election at the 2020 Annual Meeting of Stockholders.
- Committee assignments for the new director are currently undetermined.
- No financial performance data is included in this specific filing.