SEC Filing Summary: BBCN Bancorp, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K reports on the annual meeting of stockholders held on May 31, 2012. The registrant is BBCN Bancorp, Inc., a Delaware corporation. The filing details the results of shareholder votes on director elections, auditor ratification, executive compensation, and meeting adjournment.
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 results.
Material Changes and Voting Results
A total of 69,226,416 shares were represented and voted, constituting 88.76% of issued and outstanding shares entitled to vote. The results were as follows:
- Election of Directors: All 12 nominees were elected. Notable vote splits included Peter Y.S. Kim (57,974,272 for; 4,313,010 withheld) and Ki Suh Park (56,572,039 for; 5,715,243 withheld). Approximately 6,939,134 broker non-votes were recorded for this item.
- Auditor Ratification: KPMG LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2012, with 99.77% of votes cast in favor (69,066,601 for; 120,991 against).
- Executive Compensation: The advisory vote on named executive officer compensation passed with 88.19% of votes cast in favor (61,053,243 for; 203,520 against).
- Adjournment: The proposal to adjourn the meeting if necessary to solicit additional proxies passed with 84.11% of votes cast in favor (58,226,678 for; 10,904,459 against).
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 specific reasons for the higher number of withheld votes for directors Peter Y.S. Kim and Ki Suh Park compared to other nominees.
- Confirm the total number of outstanding shares to validate the 88.76% participation rate.
- Review the full proxy statement dated April 23, 2012, for details on the executive compensation package approved by shareholders.
- Check subsequent filings for the official appointment of KPMG LLP for the 2012 fiscal year.