Item 5.07: Submission of Matters to a Vote of Security Holders
On September 16, 2025, Provident Bancorp, Inc. (the "Company") held a Special Meeting of Stockholders (the "Meeting"). The Meeting was held for the purpose of considering and voting on proposals related to the proposed acquisition of the Company by NB Bancorp, Inc ("Needham"). The proposals are described in detail in the joint proxy statement/prospectus included in the Registration Statement on Form S-4 filed by Needham with the U.S. Securities and Exchange Commission (the "SEC") on July 2, 2025, as supplemented by the Current Report on Form 8-K filed by the Company with the SEC on September 5, 2025.
Proposal 1: to approve the Agreement and Plan of Merger, dated as of June 5, 2025 (the "merger agreement"), by and among Needham, Needham Bank, 1828 MS, Inc., the Company, and BankProv, and to approve the transactions contemplated by the merger agreement, including the merger of 1828 MS, Inc. with and into the Company, with the Company as the surviving entity (the "Merger")
|
Votes For
|
Votes Against
|
Votes Abstained
|
Broker Non-Votes
|
Common Stock
|
11,985,629
|
103,856
|
2,153
|
0
|
Proposal 2: to approve, on an advisory (non-binding) basis, specified compensation that may become payable to the named executive officers of the Company in connection with the Merger.
|
Votes For
|
Votes Against
|
Votes Abstained
|
Broker Non-Votes
|
Common Stock
|
7,305,003
|
4,397,758
|
388,877
|
0
|