| DELAWARE | 000-8157 | 73-0237060 | ||
| (State or other jurisdiction | (Commission | (I.R.S. Employer Identification No.) | ||
| of incorporation or organization | File Number) |
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Item 5.07 Submission of Matters to a Vote of Security Holders
(a) Annual Meeting. On May 30, 2013, The Reserve Petroleum Company (the “Company”) held its 2013 Annual Meeting of Stockholders.
(b) Matters Voted Upon; Voting Results. The following matters were submitted for a vote of the Company’s stockholders:
1. – Election of Nine Directors
| Broker | ||||||||
| Nominee | For | Against | Abstentions | Non-votes | ||||
| Mason McLain | 89,877 | 566 | --- | 10,036 | ||||
| Robert T. McLain | 89,813 | 630 | --- | 10,036 | ||||
| Robert L. Savage | 89,881 | 562 | --- | 10,036 | ||||
| Marvin E. Harris | 89,913 | 530 | --- | 10,036 | ||||
| Jerry L. Crow | 89,902 | 541 | --- | 10,036 | ||||
| William M.(Bill) Smith | 89,913 | 530 | --- | 10,036 | ||||
| Doug Fuller | 89,913 | 530 | --- | 10,036 | ||||
| Cameron R. McLain | 89,892 | 551 | --- | 10,036 | ||||
| Kyle McLain | 89,976 | 467 | --- | 10,036 |
2. – Ratification of HoganTaylor LLP HoganTaylor LLP as the Company’s Independent Registered Public Accountants for 2013 |
99,757 | 113 | 603 | --- | ||||
3. – Advisory Resolution to Approve Executive Compensation |
84,573 | 182 | 5,688 | 10,036 | ||||
| 1 Year | 2 Year | 3 Year | Abstentions | |||||
4. – Recommend Frequency of Advisory Vote Future Advisory Votes on Executive Compensation |
4,054 | 4,606 | 80,812 | 971 |
Please see Item 5.07(d) below.
All nine nominated Directors were re-elected to serve for terms of one year each and the selection of HoganTaylor LLP as the Company’s Independent Registered Public Accountants for 2013 was ratified. In addition, the stockholders approved, on an advisory basis, a resolution with respect to executive compensation and a frequency of once every three years for future advisory votes on executive compensation.
For additional information on these proposals, please see the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 26, 2013.
(c) Not Applicable
(d) Disclosure Regarding Frequency of Stockholder Advisory Vote on Executive Compensation. A majority of the votes cast by the stockholders voted, on an advisory basis, to hold an advisory vote to approve executive compensation once every three years. In line with this recommendation by our stockholders, the Board of Directors has decided that it will include an advisory stockholder vote on executive compensation in its proxy materials once every three years until the next required advisory vote on the frequency of stockholder votes on executive compensation, which will occur no later than our 2019 Annual Meeting of Stockholders.
Item 8.01 Other Events
On May 30, 2013, the Company’s Board of Directors approved a $10.00 per share cash dividend to be paid June 24, 2013 to the Company’s common stockholders of record at the close of business on June 10, 2013.
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.
/s/ Cameron R. McLain
Cameron R. McLain
Principal Executive Officer
Date: June 3, 2013