Metrocity Bankshares Inc.
05/22/2026 | Press release | Distributed by Public on 05/22/2026 14:00
Proxy Results (Form 8-K)
Item 5.07 Submission of Matters to a Vote of Security Holders.
On May 21, 2026, MetroCity Bankshares, Inc. (the "Company") held its 2026 Annual Meeting of Shareholders (the "Annual Meeting"). Of the 28,660,042 shares of common stock of the Company outstanding as of the record date for the Annual Meeting, 20,401,807 shares, or 71.19% of the outstanding common shares entitled to vote, were represented in person or by proxy at the Annual Meeting, constituting a quorum. At the Annual Meeting, the Company's shareholders voted on the matters disclosed in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 20, 2026 (the "Proxy Statement"). The final voting results of each of the proposals voted on by the Company's shareholders at the Annual Meeting are described below:
Proposal 1 - Election of Directors: To elect four (4) incumbent Class II directors named in the proxy statement to serve until the 2029 Annual Meeting of Shareholders and one (1) new Class I director named in the proxy statement to serve until the 2028 Annual Meeting of Shareholders to align with the other Class I directors, in each case until their successors have been duly elected and qualified.
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Director |
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Votes For |
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Votes Against |
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Abstain |
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Broker Non-Votes |
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Nack Y. Paek |
16,982,395 |
560,089 |
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- |
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2,859,323 |
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Frank Glover |
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16,943,541 |
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579,874 |
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19,069 |
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2,859,323 |
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William J. Hungeling |
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16,979,414 |
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544,001 |
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19,069 |
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2,859,323 |
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Francis Lai |
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14,879,733 |
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2,656,568 |
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22,163 |
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2,843,343 |
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David Shim |
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17,451,669 |
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85,848 |
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4,967 |
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2,859,323 |
In accordance with the recommendation of the Company's board of directors (the "Board") and consistent with the voting results on this non-binding advisory proposal, the Board has determined that the Company will hold future shareholder advisory votes on the compensation of the Company's named executive officers every two years, until the next required vote on the frequency of shareholder advisory votes on the compensation of the Company's named executive officers.
Proposal 2 - Ratification of Auditors: To ratify the appointment of Crowe LLP as the Company's independent registered public accounting firm for the year ended December 31, 2026.
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Votes For |
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Votes Against |
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Abstain |
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Broker Non-Votes |
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20,346,364 |
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16,551 |
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22,912 |
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15,980 |
Metrocity Bankshares Inc. published this content on May 22, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 22, 2026 at 20:00 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]