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 16, 2013
____________________
COMMUNITY SHORES BANK CORPORATION
(Exact name of registrant as specified in its charter)
Michigan | 000-51166 | 38-3423227 |
(State or other jurisdiction | (Commission File | (IRS Employer |
of incorporation) | Number) | Identification Number) |
1030 W. Norton Avenue, Muskegon, Michigan | 49441 |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code 231-780-1800
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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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.
An annual meeting of our shareholders was held on May 16, 2013. At the meeting, our shareholders voted on each of the following four matters:
· | election of one class II director for a two-year term and two class III directors for a three year-term; |
· | ratification of the appointment of BDO USA, LLP as our independent registered public accounting firm for 2013; |
· | an advisory vote to approve the compensation of our executives disclosed in our proxy statement for the annual meeting; and |
· | an advisory vote on the frequency of advisory approval of the compensation of our named executive officers. |
The final vote results for these four matters are set forth below.
The votes cast on the election of directors were as follows:
Nominee |
Votes For |
Votes Withheld |
Abstentions |
Broker Non-Votes |
Julie K. Greene (Class II) | 647,218 | 55,950 | 0 | 566,798 |
Bruce J. Essex (Class III) | 603,522 | 99,646 | 0 | 566,798 |
Heather D. Brolick (Class III) | 637,214 | 65,954 | 0 | 566,798 |
The votes cast on the ratification of the appointment of BDO USA, LLP as our independent registered public accounting firm for 2013 were as follows:
Votes For | Votes Against | Abstentions | Broker Non-Votes |
1,268,416 | 1,350 | 200 | 0 |
The votes cast on the advisory vote to approve the compensation of our executives disclosed in our proxy statement for the annual meeting were as follows:
Votes For | Votes Against | Abstentions | Broker Non-votes |
549,270 | 109,632 | 44,266 | 566,798 |
The votes cast on the advisory vote regarding the frequency of advisory approval of the compensation of our named executive officers were as follows:
One Year | Two Years | Three Years | Abstentions | Broker Non-votes |
599,624 | 1,400 | 41,730 | 60,414 | 566,798 |
For item 4, the Board of Directors recommended an advisory vote frequency of “One Year” for the future non-binding advisory resolutions to approve the compensation of our named executive officers. With the alternative of holding the executive compensation vote every “One Year” receiving the highest number of votes cast on the frequency proposal, the Board has determined that the Company will hold future non-binding advisory votes on the compensation of our named executive officers every year, at least until the next required vote on the frequency of shareholder votes on the compensation of our named executive officers. A shareholder advisory vote on the frequency of the shareholder advisory vote on the compensation paid to the Company’s named executive officers is required to be held at least once every six years.
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.
COMMUNITY SHORES BANK CORPORATION | ||
By: | /s/ Tracey A. Welsh | |
Tracey A. Welsh | ||
Senior Vice President, | ||
Chief Financial Officer and Treasurer |
Date: May 17, 2013