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SEVERN BANCORP INC FILES (8-K/A) Disclosing Submission of Matters to a Vote of Security Holders

May 7, 2014



Item 5.07 Submission of Matters to a Vote of Security Holders

As previously reported in the Original Form 8-K, the Company's shareholders conducted a non-binding advisory vote regarding the frequency of shareholder approval of the compensation of named executive officers at the Annual Meeting. Among the options presented to shareholders (every year, every 2 years or every 3 years), the majority of the votes that were cast were cast in favor of holding an advisory vote regarding the compensation of named executive officers every 3 years. In accordance with the shareholders' recommendation, the Company has determined to hold the advisory vote on executive compensation every 3years until the Company holds another advisory vote on the frequency of the advisory vote on executive officer compensation, which will occur no later than the Company's annual meeting in 2020.


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Source: Edgar Glimpses


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