Current Report Filing (8-k)

Date : 05/25/2018 @ 5:08PM
Source : Edgar (US Regulatory)
Stock : Heritage Commerce Corp (HTBK)
Quote : 17.62  0.05 (0.28%) @ 3:39PM

Current Report Filing (8-k)

 

 

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 24, 2018

 

HERITAGE COMMERCE CORP

(Exact name of registrant as specified in its charter)

 

California

 

000-23877

 

77-0469558

(State or other jurisdiction of

 

(Commission File Number)

 

(IRS Employer Identification No.)

incorporation)

 

 

 

 

 

150 Almaden Boulevard, San Jose, California

 

95113

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (408) 947-6900

 

Not Applicable

(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 (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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act o

 

 

 



 

ITEM 5.07.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

 

On May 24, 2018, Heritage Commerce Corp (the “Company”), held its Annual Meeting of Shareholders (the “Shareholders Meeting”).  There were 38,269,789 shares of common stock entitled to vote at the meeting and a total of 34,635,206 shares (90.50%) were represented at the meeting. At the Shareholders Meeting, the shareholders voted on the following proposals as described in detail in the Company’s Proxy Statement filed with the Securities and Exchange Commission on March 29, 2018.  The proposals voted on and approved by the shareholders at the Shareholders Meeting were as follows:

 

Proposal 1:  Election of Directors

 

The election of nine directors, named in the Proxy Statement, to serve as members of the Company’s Board of Directors until the next annual meeting of shareholders.  The results are set forth below:

 

Name

 

For

 

Withheld

 

Broker Non-Votes

 

Julianne M. Biagini-Komas

 

25,582,795

 

2,291,484

 

6,760,927

 

Frank G. Bisceglia

 

27,395,128

 

    479,151

 

6,760,927

 

Jack W. Conner

 

27,644,065

 

    230,214

 

6,760,927

 

J. Philip DiNapoli

 

27,644,086

 

    230,193

 

6,760,927

 

Steven L. Hallgrimson

 

27,572,726

 

    301,553

 

6,760,927

 

Walter T. Kaczmarek

 

27,656,489

 

    217,790

 

6,760,927

 

Robert T. Moles

 

27,372,236

 

    502,043

 

6,760,927

 

Laura Roden

 

27,207,869

 

    666,410

 

6,760,927

 

Ranson W. Webster

 

27,344,010

 

    530,269

 

6,760,927

 

 

Proposal 2:  Advisory Vote on Executive Compensation

 

The approval of the compensation of the Company’s named executive officers, as described in the Compensation Discussion and Analysis, the compensation tables, and the related disclosures required by Item 402 of Regulation S-K contained in the Company’s proxy statement.  The results are set forth below:

 

For

 

Against

 

Abstentions

 

Broker Non-Votes

 

27,044,444

 

752,129

 

77,706

 

6,760,927

 

 

Proposal 3:  Advisory Vote on Frequency of Vote on Executive Compensation

 

The preference for how frequently the Company should seek future advisory votes on the compensation of the Company’s named executive officers as disclosed in accordance with the compensation disclosure rules of the Securities and Exchange Commission.  The results are set forth below:

 

1 Year

 

2 Years

 

3 Years

 

Abstentions

 

Broker Non-Votes

 

19,995,187

 

188,514

 

7,453,686

 

236,892

 

6,760,927

 

 

2



 

At its regular meeting following the Annual Meeting, the Company’s Board of Directors approved a policy to submit an advisory proposal on executive compensation to the Company’s shareholders every year consistent with the vote of the Company’s shareholders at the Annual Meeting.

 

Proposal 4:  Ratification of Independent Registered Public Accounting Firm

 

The ratification of the selection of Crowe Horwath LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018.  The results are set forth below:

 

For

 

Against

 

Abstentions

 

Broker Non-Votes

 

34,346,945

 

217,855

 

70,406

 

0

 

 

3



 

ITEM 8.01    OTHER EVENTS.

 

Walter T. Kaczmarek, President and Chief Executive Officer of Heritage Commerce Corp, made a presentation to shareholders at the Annual Meeting of Shareholders on May 24, 2018.   A copy of the information in the shareholder presentation is included as Exhibit 99.1. This Form 8-K and the information included as exhibits shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended (“Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.  The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Registrant or any of its affiliates.  The information in the materials is presented as of March 31, 2018, and the Company does not assume any obligations to update such information in the future.

 

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS

 

(D) Exhibits.

 

99.1

 

Slide presentation to shareholders presented on May 24, 2018, by the registrant’s President and Chief Executive Officer.

 

4



 

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 thereunto duly authorized.

 

Date: May 25, 2018

 

Heritage Commerce Corp

 

By:

/s/ Lawrence D. McGovern

 

Name:

Lawrence D. McGovern

Executive Vice President and Chief Financial Officer

 

5


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