0001144204-11-032794.txt : 20110527 0001144204-11-032794.hdr.sgml : 20110527 20110527110026 ACCESSION NUMBER: 0001144204-11-032794 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110526 ITEM INFORMATION: Submission of Matters to a Vote of Security Holders FILED AS OF DATE: 20110527 DATE AS OF CHANGE: 20110527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST SOUTH BANCORP INC /VA/ CENTRAL INDEX KEY: 0001027183 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 561999749 STATE OF INCORPORATION: VA FISCAL YEAR END: 0907 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22219 FILM NUMBER: 11876626 BUSINESS ADDRESS: STREET 1: 1311 CAROLINA AVE CITY: WASHINGTON STATE: NC ZIP: 27889 BUSINESS PHONE: 2529464178 MAIL ADDRESS: STREET 1: 1311 CAROLINA AVENUE CITY: WASHINGTON STATE: NC ZIP: 27889 FORMER COMPANY: FORMER CONFORMED NAME: NEWSOUTH BANCORP INC DATE OF NAME CHANGE: 19961115 8-K 1 v224394_8k.htm Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 26, 2011

FIRST SOUTH BANCORP, INC.
(Exact Name of Registrant as Specified in Its Charter)

VIRGINIA
0-22219
56-1999749
(State or other jurisdiction of
(Commission
(IRS Employer
incorporation or organization)
File Number)
Identification No.)

1311 Carolina Avenue, Washington, North Carolina
27889
(Address of principal executive offices)
(Zip Code)

 (252) 946-4178
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

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:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 5.07.  Submission of Matters to a Vote of Security Holders

The Annual Meeting of Stockholders (the "Annual Meeting") of First South Bancorp, Inc. (the “Company”) was held Thursday, May 26, 2011 at 11:00 a.m. eastern time, at the main office of First South Bank (the "Bank") located at 1311 Carolina Avenue, Washington, North Carolina.

The stockholders eligible to vote at the Annual Meeting were those stockholders of record as of April 1, 2011.  A certified list of stockholders eligible to vote at the Annual Meeting indicated there were 9,751,271 votes entitled to be cast at the Annual Meeting, of which 3,250,424 votes represents a quorum. A total of 7,709,856 votes, representing 79.1% of the votes eligible to be cast, were present in person or by proxy at the Annual Meeting, constituting a quorum.

The purpose of the Annual Meeting was for considering and acting upon the following four matters: the election of two directors of the Company to serve three-year terms; to ratify the appointment of Turlington and Company, LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2011; the approval of a non-binding advisory vote on executive compensation; and the approval of a non-binding advisory vote on the frequency of stockholder voting on executive compensation.

The following is the results of the voting for each the four matters presented:

 
1.
The election of two directors:
               
Broker
  
   
For
    
Withheld
    
Non-Vote
  
Charles E. Parker, Jr.
                  
Number of votes
     4,772,179       207,618       2,730,059  
Percent of votes cast
     95.8 %     4.2 %        
                         
Marshall T. Singleton
                        
Number of votes
     4,798,163       181,634       2,730,059  
Percent of votes cast
     96.4 %     3.6 %        

 
2.
The ratification of appointment of Turlington and Company, LLP as Independent Registered Public Accounting Firm:
 
   
For
    
Against
    
Abstain
  
Number of votes cast
     7,572,348       63,464       74,044  
Percent of votes cast
     99.2 %     0.8 %        

 
3.
The approval of a non-binding advisory vote on executive compensation:

                     
Broker
  
   
For
    
Against
    
Abstain
    
Non-Vote
  
Number of votes cast
     4,644,476       295,076       40,245       2,730,059  
Percent of votes cast
     94.0 %     6.0 %                
 
 
 

 
4.
The approval of a non-binding advisory vote on the frequency of stockholder voting on executive compensation:

   
Three
    
Two
    
One
          
Broker
  
   
Years
    
Years
    
Year
    
Abstain
    
Non-Vote
  
Number of votes cast
     3,786,432       85,973       954,268       97,723       2,785,460  
Percent of votes cast
     78.4 %     1.8 %     19.8 %                
 
 
 

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

 
First South Bancorp, Inc.
 
(Registrant)
     
     
Date: May 27, 2011
By: 
/s/ William L. Wall
 
William L. Wall
 
Executive Vice President
 
Chief Financial Officer and
 
Secretary