UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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:
Securities registered pursuant to Section 12(b) of the Act:
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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
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.
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
b) Effective with the May 24, 2021 Annual Meeting of Shareholders, Mr. Andrew Dale, a member of the Board of Directors (the “Board”) of Coastal Financial Corporation (the “Company”), resigned from the Board.
As previously disclosed in a current report on Form 8-K filed on March 23, 2021, Mr. Dale’s decision not to stand for reelection to the Board was not based on any disagreement with the Company with respect to any matter relating to the Company’s operations, policies or practices.
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Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
The annual meeting of shareholders of the Company was held on May 24, 2021. The final results for each of the matters submitted to a vote of the shareholders at the annual meeting are as follows:
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1. |
The following individuals were elected as directors of the Company for a three-year term by the following vote: |
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FOR |
WITHHELD |
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Sadhana Akella-Mishra |
6,073,183 |
1,796,466 |
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Eric M. Sprink |
7,786,768 |
82,881 |
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Pamela Unger |
7,860,341 |
9,308 |
There were 1,733,157 broker non-votes on the proposal.
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2. |
The approval of the First Amendment to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. |
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FOR |
AGAINST |
ABSTAIN |
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7,765,684 |
99,586 |
4,379 |
There were 1,733,157 broker non-votes on the proposal.
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3. |
The appointment of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2021 was ratified by the shareholders by the following vote: |
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FOR |
AGAINST |
ABSTAIN |
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9,602,600 |
45 |
161 |
There were no broker non-votes on the proposal.
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.
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COASTAL FINANCIAL CORPORATION |
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Date: May 26, 2021 |
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By: |
/s/ Joel G. Edwards |
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Joel G. Edwards |
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Executive Vice President and Chief Financial Officer |