Business Context and Reporting Period
This Form 8-K filing by Banner Corporation (BANR) reports on the results of its Annual Meeting of Shareholders held on April 29, 2020. The company is incorporated in Washington and trades on The NASDAQ Stock Market LLC.
Key Financial Metrics
This filing is a current report regarding corporate governance and shareholder voting. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
There are no material financial changes reported in this document. The filing details the successful election of directors and the ratification of the independent auditor.
Shareholder Voting Results and Governance
- Quorum: 31,291,868 shares were represented out of 35,282,502 outstanding shares.
- Proposal 1 (Election of Directors): Mark J. Grescovich, David A. Klaue, and Merline Saintil were elected to three-year terms expiring in 2023.
- Mark J. Grescovich: 99.05% For
- David A. Klaue: 96.63% For
- Merline Saintil: 99.32% For
- Proposal 2 (Executive Compensation): The advisory vote to approve executive compensation passed with 28,417,277 votes For, 358,227 Against, and 250,620 Abstain.
- Proposal 3 (Audit Firm Ratification): Shareholders ratified the appointment of Moss Adams LLP as the independent registered public accounting firm for the year ending December 31, 2020, with 30,945,795 votes For.
Investor Verification Checklist
- Verify the press release referenced as Exhibit 99.1 (dated April 30, 2020) for any operational updates or financial commentary not included in the 8-K text.
- Confirm the continued terms of the remaining directors (Herencia, Layman, Matson, Riordan, Schwakopf, Bishop, Collingsworth, and Orrico) as noted in the filing.
- Review the company's most recent 10-K or 10-Q filings for the financial metrics absent from this governance report.