Business Context and Reporting Period
This Form 8-K reports on the annual meeting of shareholders for Pacific City Financial Corporation (PCB Bancorp) held on September 27, 2018. The voting record date was July 31, 2018, with 13,445,894 shares of common stock outstanding.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance and shareholder voting results.
Material Changes
No material financial changes or operational updates were disclosed in this filing. The document details the outcomes of shareholder votes regarding board composition and auditor ratification.
Guidance, Outlook, and Management Commentary
The filing contains no forward-looking guidance, management commentary on financial performance, or discussion of risks and contingencies. The primary content is the tabulation of votes for the election of directors and the ratification of the independent auditor.
Important Facts for Investors
- Shareholder Participation: 9,749,100 shares were voted, representing 72.51% of outstanding shares.
- Director Elections: All eight nominees (Kijun Ahn, Haeyoung Cho, Kwang Jin Chung, Henry Kim, Sang Young Lee, Hong Kyun "Daniel" Park, Don Rhee, and Suk Won Youn) were re-elected with overwhelming support; votes withheld were minimal (ranging from 0 to 814).
- Auditor Ratification: The appointment of Crow LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2018, was approved unanimously with 9,749,100 votes for and zero votes against or abstaining.
- Broker Non-Votes: There were 1,363,372 broker non-votes recorded for the director election proposal.