Security Federal Corporation

05/13/2025 | Press release | Distributed by Public on 05/13/2025 09:39

Proxy Results (Form 8-K)

Item 5.07 Submission of Matters to a Vote of Security Holders

(a)
The Annual Meeting of Security Federal Corporation ("Company") was held on May 8, 2025 in a virtual format.

(b)
There was a total of 3,186,093 shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 2,437,383 shares of common stock were represented in person or by proxy, therefore a quorum was present. The following proposals were submitted by the Board of Directors to a vote of shareholders:

Proposal 1. Election of Directors. The following individuals were elected as directors:

FOR
No. of votes
WITHHELD
No. of votes
BROKER
NON-VOTES
No. of votes
Thomas L. Moore
2,252,317
185,066
497,829
J. Chris Verenes
2,275,257
162,126
497,829
Richard T. Harmon
2,280,257
157,126
497,829
Frampton W. Toole, III
2,281,457
155,926
497,829


Based on the votes set forth above, Messrs. Moore, Verenes, Harmon and Toole were duly elected to each serve as directors of the Company for a three-year term expiring at the annual meeting of shareholders in 2028, each to serve until their respective successors have been duly elected and qualified.

The terms of Directors Robert E. Alexander, William Clyburn, Frank M. Thomas, Jr., Jessica T. Cummins, Timothy W. Simmons, Harry O. Weeks, Jr. and Roy G. Lindburg continued.

Proposal 2. Advisory approval of the compensation of the Company's named executive officers. This proposal received the following votes:

For
Percentage
of
shares
present
Against
Percentage
of
shares
present
Abstain
Percentage
of
shares
present
Broker Non-Votes
2,250,074
92%
160,399
7%
26,910
1%
497,829

Based on the votes set forth above, the compensation of the Company's named executive officers was approved by shareholders.




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