Business Context and Reporting Period
This Form 8-K reports the results of the 2026 Annual Meeting of Shareholders held by CoastalSouth Bancshares, Inc. on April 23, 2026. The filing details the voting outcomes for the election of directors and the ratification of the independent auditor.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a current report regarding corporate governance events and does not contain financial performance data.
Material Changes
No material financial changes are reported in this filing. The document focuses solely on the completion of shareholder voting procedures.
Guidance, Outlook, and Management Commentary
Shareholder Participation: Of 11,853,258 shares outstanding, 8,894,030 shares (75.79%) were represented at the meeting, constituting a quorum.
Proposal 1 - Election of Directors: All eleven nominees were elected to serve one-year terms ending in 2027. Notable voting results include:
- Patrick M. Frawley: 7,842,100 votes for; 9,579 votes withheld.
- Joseph V. Topper, Jr.: 7,846,482 votes for; 5,197 votes withheld.
- Stephen R. Stone: 7,832,217 votes for; 19,462 votes withheld.
- Michael B. High: 5,927,906 votes for; 1,923,773 votes withheld (highest number of withheld votes).
- John G. Aldridge, Jr.: 6,521,195 votes for; 1,330,484 votes withheld.
Proposal 2 - Ratification of Auditors: Shareholders ratified the appointment of Elliott Davis, LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Votes For: 8,979,430
- Votes Against: 4,600
- Abstain: 0
Investor Verification Checklist
- Verify the specific reasons for the higher number of votes withheld for directors Michael B. High and John G. Aldridge, Jr. compared to other nominees.
- Confirm the total number of broker non-votes (1,132,351) and their impact on the quorum and voting thresholds.
- Review the full proxy statement for detailed biographies of the elected directors and the rationale for the auditor selection.
- Check subsequent filings (e.g., 10-K or 10-Q) for the actual financial performance metrics not included in this 8-K.