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 23, 2016
FOUR
OAKS FINCORP, INC.
(Exact name of registrant as
specified in its charter)
|
North Carolina |
000-22787 |
56-2028446 |
|
(State or other jurisdiction of |
(Commission File |
(I.R.S. Employer |
|
6114 U.S. 301 South |
27524 |
|
(Address of principal executive offices) |
(Zip Code) |
(919) 963-2177
Registrant’s telephone number, including
area code
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))
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Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
Four Oaks Fincorp, Inc. (the “Company”) held its Annual Meeting of Shareholders on May 23, 2016. The shareholders considered four proposals, each of which is described in more detail in the Company's definitive proxy statement dated April 18, 2016.
Proposal 1: To elect eight nominees to the Company's Board of Directors. The votes were cast as follows:
| For | Withheld | Broker Non-Votes | |||
| Ayden R. Lee, Jr. | 23,693,265 | 538,226 | 5,215,006 | ||
| David H. Rupp | 24,115,763 | 115,728 | 5,215,006 | ||
| Paula Canaday Bowman | 23,752,082 | 479,408 | 5,215,006 | ||
| Warren L. Grimes | 23,579,187 | 652,304 | 5,215,006 | ||
| Kenneth R. Lehman | 23,957,169 | 274,321 | 5,215,006 | ||
| Robert G. Rabon | 23,760,452 | 471,039 | 5,215,006 | ||
| Dr. R. Max Raynor, Jr. | 23,686,972 | 544,519 | 5,215,006 | ||
| Michael A. Weeks | 23,857,413 | 374,078 | 5,215,006 |
All director nominees were duly elected.
Proposal 2: To approve an amendment to the Company’s Articles of Incorporation to effect a one-for-five reverse stock split of the Company’s authorized, issued and outstanding common stock. The votes were cast as follows:
| For | Against | Abstain | ||
| 28,769,990 | 475,430 | 201,077 |
Proposal 2 was approved.
Proposal 3: To vote, on an advisory (nonbinding) basis, to approve executive compensation. The votes were cast as follows:
| For | Against | Abstain | Broker Non-Votes | |||
| 22,922,572 | 547,919 | 761,000 | 5,215,006 |
Proposal 3 was approved.
Proposal 4: To ratify the appointment of Cherry Bekaert LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2016. The votes were cast as follows:
| For | Against | Abstain | ||
| 28,841,768 | 57,800 | 546,929 |
Proposal 4 was approved.
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.
FOUR OAKS FINCORP, INC.
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By: /s/ Deanna W. Hart |
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Deanna W. Hart |
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Executive Vice President, |
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Chief Financial Officer |
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Date: May 25, 2016 |
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