Business Context and Reporting Period
This Form 8-K reports on the 20th Annual Meeting of Shareholders held by MVB Financial Corp. on May 15, 2018. The filing details the voting results for director elections, executive compensation, 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 report focuses exclusively on corporate governance voting outcomes.
Material Changes and Voting Results
A quorum was established with 6,568,952 shares (62.33% of outstanding voting shares) represented. The voting results were as follows:
- Proposal 1 (Election of Directors): All four nominees (David B. Alvarez, John W. Ebert, Dr. Kelly R. Nelson, and Daniel W. Holt) were elected. Each received over 4.19 million "For" votes, with "Withheld" votes ranging from approximately 154,000 to 197,000.
- Proposal 2 (Executive Compensation): The non-binding advisory proposal was approved with 4,145,643 "For" votes versus 82,380 "Against" votes.
- Proposal 3 (Auditor Ratification): The appointment of Dixon Hughes Goodman LLP was ratified with 6,550,025 "For" votes versus 8,398 "Against" votes.
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 appointment of Dixon Hughes Goodman LLP as the independent auditor for the fiscal year ending December 31, 2018.
- Confirm the three-year terms for the newly elected directors: David B. Alvarez, John W. Ebert, Dr. Kelly R. Nelson, and Daniel W. Holt.
- Note that approximately 2.18 million shares were marked as "Non-Votes" for all proposals, indicating shares present at the meeting that did not cast a vote on specific items.