Security Federal Corp 8-K, filed May 26, 2020
Security Federal Corp (SFDL)
About this 8-K
Security Federal Corp filed this 8-K on May 26, 2020, reporting on events of May 21, 2020.
Items reported
- Item 5.07: Shareholder vote results
| UNITED STATES | ||
|---|---|---|
| SECURITIES AND EXCHANGE COMMISSION | ||
| Washington, D.C. 20549 | ||
| FORM 8-K | ||
| CURRENT REPORT | ||
| Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 | ||
| Date of Report (Date of earliest event reported): May<br> 21, 2020 | ||
| SECURITY FEDERAL CORPORATION | ||
| (Exact name of registrant as specified in its charter) | ||
| South Carolina | 000-16120 | 57-0858504 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
| 238 Richland Avenue Northwest, Aiken, South Carolina | 29801 | |
| (Address of principal executive offices) | (Zip Code) | |
| Registrant's telephone number (including area code): (803) 641-3000 | ||
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the<br> following provisions. | ||
| [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
| [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR<br> 240.14a-12) | ||
| [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17<br> CFR 240.14d-2(b)) | ||
| [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17<br> CFR 240.13e-4(c))<br><br> <br><br><br> <br>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this<br> chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).<br><br> <br><br><br> <br>Emerging growth company [ ]<br><br> <br><br><br> <br>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any<br> new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] |
Item 5.07 Submission of Matters to a Vote of Security Holders
| (a) | The Annual Meeting of Security Federal Corporation (“Company”) was held on May 21, 2020 in a telephonic format. |
|---|---|
| (b) | There were a total of 3,252,884 shares of the Company’s common stock outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 2,460,130 shares of common stock were represented in person or by proxy, therefore a quorum was present. The following proposals were submitted by the Board of Directors to<br> a vote of shareholders: |
| --- | --- |
Proposal 1. Election of Directors. The following individuals were elected as directors:
| FOR | WITHHELD | BROKER<br><br> <br>NON-VOTES | ||||
|---|---|---|---|---|---|---|
| No. of votes | No. of votes | No. of votes | ||||
| Robert E. Alexander | 2,352,604 | 107,526 | 305,397 | |||
| William Clyburn | 2,351,522 | 108,608 | 305,397 | |||
| Frank M. Thomas, Jr. | 2,352,604 | 107,526 | 305,397 | |||
| Jessica T. Cummins | 2,353,204 | 106,926 | 305,397 |
Based on the votes set forth above, Messrs. Alexander, Clyburn, Thomas, Jr. and Ms. Cummins were duly elected to each serve as directors of the Company for a three year term expiring at the annual meeting of shareholders in 2023, each to serve until their respective successors have been duly elected and qualified.
The terms of Directors Timothy W. Simmons, Harry O. Weeks, Jr., Roy G. Lindburg, Thomas L. Moore, J. Chris Verenes, Richard T. Harmon and Frampton W. Toole, III, continued.
Proposal 2. Advisory approval of the compensation of the Company’s named executive officers. This proposal received the following votes:
| For | Percentage<br><br> <br>of<br><br> <br>shares<br><br> <br>present | Against | Percentage<br><br> <br>of<br><br> <br>shares<br><br> <br>present | Abstain | Percentage<br><br> <br>of<br><br> <br>shares<br><br> <br>present | Broker Non-<br><br> <br>Vote |
|---|---|---|---|---|---|---|
| 2,435,883 | 99.01 | 2,447 | 0.10 | 21,800 | 0.89 | 305,397 |
Based on the votes set forth above, the compensation of the Company’s named executive officers was approved by shareholders.
(c) None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SECURITY FEDERAL CORPORATION | ||
|---|---|---|
| Date: May 21, 2020 | By: |  |
| J. Chris Verenes | ||
| Chief Executive Officer |