Bridgewater Bancshares Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K, filed on April 29, 2021, reports the results of the 2021 Annual Meeting of Shareholders held on April 27, 2021. The Company is incorporated in Minnesota and its common stock trades on The Nasdaq Stock Market LLC under the symbol BWB.
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 voting results.
Material Changes and Voting Results
Shareholder participation was high, with approximately 84% of outstanding shares represented. There were 28,128,075 shares outstanding as of the record date (March 2, 2021), with 23,521,145 shares represented at the meeting.
- Proposal 1 (Election of Directors): All four Class III director nominees were elected to serve three-year terms.
- Jerry J. Baack: 18,946,297 votes for; 1,998,420 votes withheld.
- Lisa M. Brezonik: 16,324,555 votes for; 4,620,162 votes withheld.
- Mohammed Lawal: 20,721,895 votes for; 222,822 votes withheld.
- Jeffrey D. Shellberg: 19,249,344 votes for; 1,695,373 votes withheld.
- Proposal 2 (Ratification of Auditors): The appointment of CliftonLarsonAllen LLP as the independent registered public accounting firm for the year ending December 31, 2021, was ratified.
- Votes For: 23,395,952
- Votes Against: 75,325
- Abstentions: 49,868
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 final composition of the Board of Directors following the election of the four Class III nominees.
- Confirm the engagement of CliftonLarsonAllen LLP for the 2021 fiscal year audit.
- Note the significant number of broker non-votes (2,576,428) recorded for the director elections, which did not affect the outcome but indicate broker discretion.
- Review the Definitive Proxy Statement filed on March 17, 2021, for detailed background on the nominees and auditor appointment.