Attached files
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EX-31.2 - EX-31.2 - Oconee Federal Financial Corp. | a11-25530_3ex31d2.htm |
EX-32.1 - EX-32.1 - Oconee Federal Financial Corp. | a11-25530_3ex32d1.htm |
EX-31.1 - EX-31.1 - Oconee Federal Financial Corp. | a11-25530_3ex31d1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
Amendment No. 1
x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended June 30, 2011
OR
o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number: 001-35033
Oconee Federal Financial Corp.
(Exact Name of Registrant as Specified in its Charter)
Federal |
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32-0330122 |
(State or Other Jurisdiction of Incorporation |
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(I.R.S. Employer Identification Number) |
201 East North Second Street, Seneca, South Carolina |
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29678 |
(Address of Principal Executive Offices) |
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(Zip Code) |
(864) 882-2765
(Registrants Telephone Number Including Area Code)
Securities Registered Pursuant to Section 12(b) of the Act:
Title of Each Class |
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Name of Each Exchange on Which Registered |
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Common Stock, par value $0.01 per share |
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The NASDAQ Stock Market, LLC |
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Securities Registered Pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes o No x
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such requirements for the past 90 days.
(1) Yes x No o (2) Yes x No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files). Yes o No o
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.
Large accelerated filer o |
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Accelerated filer o |
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Non-accelerated filer o |
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Smaller reporting company x |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x
As of September 27, 2011 there were 6,348,000 shares outstanding of the registrants common stock. The Registrant was not a reporting company as of the end of its last completed second fiscal quarter. The aggregate value of the voting and non-voting common stock held by non-affiliates of the registrant, computed by reference to the closing price of the common stock as of January 14, 2011 (the first day the Registrants shares were publicly traded) was $18.96 million.
Explanatory Note
This Form 10-K/A is being filed by Oconee Federal Financial Corp. (the Company) to amend its Annual Report on Form 10-K for the year ended June 30, 2011, filed with the Securities and Exchange Commission on September 28, 2011 to include certain information regarding director independence required by Item 13 of the Annual Report on Form 10-K.
ITEM 13. Certain Relationships and Related Transactions, and Director Independence
Rule 5605(b)(1) of the listing standards of the NASDAQ Stock Market generally requires that a majority of a listed companys board of directors be independent as defined in Rule 5605(a)(2) of the listing standards. Pursuant to Rule 5615(c)(2) of the listing standards, a listed company that is a controlled corporation is exempt from certain requirements of the listing standards, including that a majority of its board of directors be independent under the listing standards. Because Oconee Federal, MHC owns more than 50% of the Companys outstanding common stock, and therefore more than 50% of the voting power with respect to the election of directors, the Company is a controlled corporation within the meaning of Rule 5615(c)(1) of the listing standards, and accordingly, is exempt from the requirement that a majority of its board of directors be independent. The Company is relying on this exemption due to the fact that three of its six directors, Messrs. T. Evatt, C. Evatt and Poore, are not independent within the meaning of the listing standards.
All other information required by this item is incorporated herein by reference to the section captioned Proposal I Election of Directors Transactions with Certain Related Persons of the Companys definitive Proxy Statement for the 2011 Annual Meeting of Stockholders.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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OCONEE FEDERAL FINANCIAL CORP. | |
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Date: October 18, 2011 |
By: |
/s/ T. Rhett Evatt |
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T. Rhett Evatt | |
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President, Chief Executive Officer and Chairman | |
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(Duly Authorized Representative) |
Pursuant to the requirements of the Securities Exchange of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Signatures |
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Title |
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Date |
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/s/ T. Rhett Evatt |
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President, Chief Executive Officer and Chairman of the Board |
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October 18, 2011 |
T. Rhett Evatt |
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(Principal Executive Officer) |
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/s/ Curtis T. Evatt |
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Executive Vice President, Chief Financial Officer and Director |
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October 18, 2011 |
Curtis T. Evatt |
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(Principal Financial and Accounting Officer) |
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/s/ Harry B. Mays, Jr. |
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Director |
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October 18, 2011 |
Harry B. Mays, Jr. |
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/s/ Robert N. McLellan, Jr. |
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Director |
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October 18, 2011 |
Robert N. McLellan, Jr. |
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/s/ W. Maurice Poore |
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Director |
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October 18, 2011 |
W. Maurice Poore |
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/s/ Cecil T. Sandifer, Jr. |
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Director |
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October 18, 2011 |
Cecil T. Sandifer, Jr. |
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