Coastal Financial Corp.
05/29/2026 | Press release | Distributed by Public on 05/29/2026 14:33
Proxy Results (Form 8-K)
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Item 5.07
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Submission of Matters to a Vote of Security Holders.
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Coastal Financial Corporation (the "Company") held its 2026 annual meeting of shareholders (the "Annual Meeting") on May 27, 2026. Present at the Annual Meeting in person or by proxy were holders of 13,853,559 shares of Company common stock representing approximately 91% of the voting power of the shares of common stock of the Company as of the close of business on March 27, 2026, the record date for the Annual Meeting, and constituting a quorum for the transaction of business. The final results for each of the matters submitted to a vote of the shareholders at the Annual Meeting are as follows:
1.The following individuals were elected as directors of the Company. Rilla R. Delorier, Steven D. Hovde, Michael R. Patterson and Gregory A. Tisdel to the class of Directors to serve for a three year term until the 2029 annual meeting of shareholders and Jeffrey M. Chapman to the class of Directors to serve for a two year term until the 2028 annual meeting of shareholders, or until their successors are elected and qualified, by the following vote:
| Director nominees | For | Withheld | Broker Non-Votes | ||||||||
| Rilla R. Delorier | 11,904,655 | 841,585 | 1,107,319 | ||||||||
| Steven D. Hovde | 6,374,067 | 6,372,171 | 1,107,321 | ||||||||
| Michael R. Patterson | 11,913,486 | 832,753 | 1,107,320 | ||||||||
| Gregory A. Tisdel | 11,098,242 | 1,647,996 | 1,107,321 | ||||||||
2.The selection of Baker Tilly US, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026 was ratified by the shareholders by the following vote:
| FOR | AGAINST | ABSTAIN | ||||||
| 13,810,457 | 41,938 | 1,162 | ||||||
There were 2 broker non-votes on the proposal.
3.The advisory non-binding vote on executive compensation paid to our named executive officers was approved by the shareholders by the following vote:
| FOR | AGAINST | ABSTAIN | ||||||
| 12,261,568 | 344,062 | 140,608 | ||||||
There were 1,107,321 broker non-votes on the proposal.
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