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): August 9, 2011
United Security Bancshares, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 0-14549 | 63-0843362 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
131 West Front Street
Post Office Box 249
Thomasville, Alabama 36784
(Address of Principal Executive Offices, including Zip Code)
Registrant’s telephone number, including area code: (334) 636-5424
N/A
(Former Name or Former Address, if Changed Since Last Report)
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 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 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.07. | Submission of Matters to a Vote of Security Holders. |
The Annual Meeting of Shareholders (the “Annual Meeting”) of United Security Bancshares, Inc. (the “Company”) was held on August 9, 2011. Summarized below are descriptions of the matters voted on at the Annual Meeting and the final results of such voting:
Proposal 1 – Election of Directors. The result of the vote taken at the Annual Meeting for the election of directors of the Company to serve during the ensuing year or until their successors are duly elected and qualified was as follows:
| Name |
Votes For |
Withhold Authority |
Broker Non-Votes | |||
| Dan R. Barlow |
3,033,585 | 706,907 | 774,300 | |||
| Andrew C. Bearden, Jr. |
3,259,533 | 480,959 | 774,300 | |||
| Linda H. Breedlove |
3,110,222 | 630,270 | 774,300 | |||
| Gerald P. Corgill |
3,321,779 | 418,713 | 774,300 | |||
| Wayne C. Curtis |
3,148,291 | 592,201 | 774,300 | |||
| John C. Gordon |
3,169,950 | 570,542 | 774,300 | |||
| William G. Harrison |
2,990,918 | 749,574 | 774,300 | |||
| Hardie B. Kimbrough |
3,002,755 | 737,737 | 774,300 | |||
| J. Lee McPhearson |
3,244,262 | 496,230 | 774,300 | |||
| Jack W. Meigs |
3,145,996 | 594,496 | 774,300 | |||
| Howard M. Whitted |
3,165,880 | 574,612 | 774,300 | |||
| Bruce N. Wilson |
3,045,809 | 694,683 | 774,300 | |||
Proposal 2 – Ratification of the Appointment of Carr, Riggs & Ingram, LLC as the Company’s Independent Registered Public Accountants for the Year Ending December 31, 2011. The result of the vote taken at the Annual Meeting on the proposal relating to the ratification of the appointment of Carr, Riggs & Ingram, LLC as the Company’s independent registered public accountants was as follows:
| Votes For |
Votes Against |
Abstain | ||
| 4,150,617 |
260,138 |
104,037 | ||
Proposal 3 – Advisory Vote on Executive Compensation. The result of the vote taken at the Annual Meeting to adopt a resolution approving, on an advisory basis, the compensation paid to the Company’s named executive officers, as disclosed in the Company’s 2011 proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission, was as follows:
| Votes For |
Votes Against |
Abstain |
Broker Non-Votes | |||
| 3,017,963 |
595,880 | 126,649 | 774,300 | |||
Proposal 4 – Advisory Vote on Frequency of Say-on-Pay Vote. The result of the vote taken at the Annual Meeting to select, on an advisory basis, the frequency of future shareholder advisory votes to approve the compensation of the Company’s named executive officers was as follows:
| Once Every |
Once Every |
Once Every |
Abstain |
Broker Non-Votes | ||||
| Year |
Two Years |
Three Years |
||||||
| 3,280,151 |
49,225 | 290,405 | 120,711 | 774,300 | ||||
The Company expects to publicly disclose by an amendment to this Form 8-K, promptly after the next regularly scheduled meeting of the Company’s Board of Directors, its determination as to the frequency with which future advisory votes on executive compensation will be held.
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.
| Dated: August 15, 2011 | UNITED SECURITY BANCSHARES, INC. | |||||
| By: | /s/ Beverly J. Dozier | |||||
| Name: | Beverly J. Dozier | |||||
| Vice President, Secretary and Assistant Treasurer | ||||||