UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): January 29, 2016
SOUTHCOAST FINANCIAL CORPORATION
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Incorporated under the
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Commission File No. 000-25933
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I.R.S. Employer
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laws of South Carolina
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Identification No.
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57-1079460
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530 Johnnie Dodds Boulevard
Mt. Pleasant, South Carolina 29464
Telephone: (843) 884-0504
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Section 5 – Corporate Governance and Management
Item 5.07 Submission of Matters to a Vote of Security Holders.
(a) The Company held a Special Meeting of Shareholders on January 29, 2016. At that meeting, Shareholders voted on the matters set forth below.
(b)(1) The proposed merger of the Company with and into BNC Bancorp was approved. The voting results were as follows:
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FOR
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AGAINST
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ABSTENTIONS
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BROKER
NON-VOTES
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5,714,786
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52,763
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14,059
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0
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(2) Non-binding advisory proposal to approve the compensation certain executive officers of the Company will receive under existing agreements or arrangements with the Company or Southcoast Community Bank in connection with the merger was adopted. The voting results were as follows:
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FOR
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AGAINST
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ABSTENTIONS
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BROKER
NON-VOTES
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4,850,022
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808,904
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122,682
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0
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SIGNATURE
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.
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SOUTHCOAST FINANCIAL CORPORATION
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(Registrant)
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Date: January 29, 2016
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By:
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/s/ William C. Heslop
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William C. Heslop
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Senior Vice President and Chief Financial Officer
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