OP Bancorp Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K, dated June 22, 2023, covers the results of OP Bancorp's 2023 Annual Meeting of Shareholders. The company is incorporated in California and its common stock trades on the NASDAQ Global Market under the symbol OPBK.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and voting outcomes rather than financial performance.
Material Changes and Voting Results
Shareholders representing 83.72% of total shares outstanding (12,747,915 shares) participated in the meeting. The following actions were taken:
- Election of Directors: All seven nominees were elected to one-year terms expiring at the 2024 annual meeting. Voting results were as follows:
| Nominee | Votes For | Votes Withheld | Broker Non-Votes |
|---|---|---|---|
| Brian Choi | 11,449,419 | 96,573 | 1,201,923 |
| Ernest E. Dow | 11,458,999 | 86,993 | 1,201,923 |
| Soo Hun Jung | 11,458,993 | 86,999 | 1,201,923 |
| Hyung J. Kim | 11,541,161 | 4,831 | 1,201,923 |
| Min J. Kim | 11,511,732 | 34,260 | 1,201,923 |
| Sunny Kwon | 11,541,178 | 4,814 | 1,201,923 |
| Yong Sin Shin | 11,475,221 | 70,771 | 1,201,923 |
- Ratification of Auditors: Shareholders ratified the appointment of Crowe LLP as the independent registered public accounting firm for 2023.
| Proposal 2 Votes | Count |
|---|---|
| Votes For | 12,733,572 |
| Votes Against | 11,627 |
| Abstain | 2,716 |
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the total number of shares outstanding to confirm the 83.72% participation rate.
- Confirm the term expiration dates for the newly elected directors (2024 annual meeting).
- Review the 2023 Proxy Statement for details on the director nominees and the rationale for the auditor ratification.
- Note that this filing contains no financial data; refer to the most recent 10-Q or 10-K for financial metrics.