Business Context and Reporting Period
This Form 8-K filing by Ames National Corporation reports on the results of its annual meeting of shareholders held on April 29, 2015. The company is incorporated in Iowa and maintains its principal executive offices in Ames, Iowa.
Key Financial Metrics
This filing is a current report regarding corporate governance events and does not contain financial statements. Consequently, data regarding revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes
The filing details the outcomes of two shareholder proposals:
- Proposal 1 (Election of Directors): Shareholders elected Steven D. Forth, James R. Larson II, and Lisa M. Eslinger to the Board of Directors for three-year terms. The remaining directors (Betty A. Baudler Horras, David W. Benson, John P. Nelson, Douglas C. Gustafson DVM, Richard O. Parker, Thomas H. Pohlman, and Larry A. Raymon) continued their terms.
- Proposal 2 (Ratification of Auditors): Shareholders ratified the appointment of CliftonLarsonAllen LLP as the independent registered public accounting firm for 2015.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, risk factors, or discussion of contingencies. It is strictly a disclosure of voting results.
Important Facts for Investors
- Total Voting Shares: 9,310,913 shares of common stock were entitled to vote at the meeting.
- Director Election Results:
- Steven D. Forth: 3,963,163 votes in favor; 140,015 withheld; 2,010,307 broker non-votes.
- James R. Larson II: 3,947,413 votes in favor; 155,765 withheld; 2,010,307 broker non-votes.
- Lisa M. Eslinger: 3,957,190 votes in favor; 145,988 withheld; 2,010,307 broker non-votes.
- Auditor Ratification Results: 6,032,539 votes for; 59,366 against; 21,580 abstain. There were no broker non-votes on this proposal.