PCB Bancorp 8-K Summary: Annual Meeting Results
Business Context and Reporting Period
This Form 8-K reports on the annual meeting of shareholders held on May 26, 2022. The voting record date was March 31, 2022, with 14,944,663 shares of common stock outstanding. The filing details the election of directors and the ratification of the independent registered public accounting firm.
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 voting outcomes.
Material Changes and Voting Results
A total of 10,558,472 shares were presented and voted, representing 70.65% of the outstanding shares entitled to vote.
Proposal 1: Election of Directors
All nine nominees were elected to the Board of Directors. The voting breakdown is as follows:
| Nominee | Votes For | Votes Withheld | Broker Non-Vote |
|---|---|---|---|
| Kijun Ahn | 8,310,382 | 141,774 | 2,106,316 |
| Daniel Cho | 8,424,818 | 27,338 | 2,106,316 |
| Haeyoung Cho | 6,769,194 | 1,682,962 | 2,106,316 |
| Janice Chung | 8,450,714 | 1,442 | 2,106,316 |
| Sarah Jun | 8,450,638 | 1,518 | 2,106,316 |
| Henry Kim | 8,450,753 | 1,403 | 2,106,316 |
| Sang Young Lee | 7,730,722 | 721,434 | 2,106,316 |
| Hong Kyun "Daniel" Park | 8,450,746 | 1,410 | 2,106,316 |
| Don Rhee | 8,310,312 | 141,844 | 2,106,316 |
Proposal 2: Ratification of Auditor
Shareholders approved the appointment of Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2022.
- Votes For: 10,549,854
- Votes Against: 233
- Votes Abstain: 8,385
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 tenure of the newly elected directors, who serve until the next annual meeting.
- Confirm the engagement of Crowe LLP for the 2022 fiscal year audit.
- Note the significant number of broker non-votes (2,106,316) on the director election, indicating shares held by brokers that did not receive voting instructions.
- Review the full proxy statement for detailed biographical information on the elected directors.