0001193125-13-235625.txt : 20130524 0001193125-13-235625.hdr.sgml : 20130524 20130524154455 ACCESSION NUMBER: 0001193125-13-235625 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130523 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders FILED AS OF DATE: 20130524 DATE AS OF CHANGE: 20130524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERVEST BANCSHARES CORP CENTRAL INDEX KEY: 0000927807 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 133699013 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23377 FILM NUMBER: 13871983 BUSINESS ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA STREET 2: SUITE 400 CITY: NEW YORK STATE: NY ZIP: 10020-2002 BUSINESS PHONE: 2122182800 MAIL ADDRESS: STREET 1: 1 ROCKEFELLER PLAZA STREET 2: SUITE 400 CITY: NEW YORK STATE: NY ZIP: 10020-2002 8-K 1 d544623d8k.htm FORM 8-K Form 8-K

 

 

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 23, 2013

 

 

INTERVEST BANCSHARES CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   000-23377   13-3699013

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

 

One Rockefeller Plaza, Suite 400, New York, New York   10020-2002
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number Including Area Code: (212) 218-2800

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(b) under the Exchange Act (17 CFR 240.14a-12(b))

 

¨ 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 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Annual Meeting of Stockholders (the “Meeting”) of Intervest Bancshares Corporation (the “Company”) was held on May 23, 2013. As reported under Item 5.07 below, at the Meeting, the Company’s stockholders elected directors and approved the Company’s 2013 Equity Incentive Plan. A copy of this plan was filed as Appendix A to the Company’s Definitive Proxy Statement, which was filed with the Securities and Exchange Commission on April 11, 2013.

Item 5.07 – Submission of Matters to a Vote of Security Holders.

As of the record date of March 28, 2013, there were a total of 21,925,089 shares of the Company’s common stock outstanding and entitled to vote at the Meeting. At the Meeting, 20,272,325 shares of common stock were present in person or by proxy, representing a quorum.

At the Meeting, the Company’s stockholders: (i) elected each of the eight persons listed below under “Election of Directors” to serve as a director of the Company until the next annual meeting of stockholders; (ii) approved the election of two additional directors listed below under “Contingent Election of Directors”, contingent upon redemption or purchase of the Company’s outstanding Series A Preferred Stock held by the U.S. Treasury; (iii) approved a non-binding advisory proposal on executive officer compensation; (iv) approved, on an advisory basis, the frequency of future advisory votes on executive compensation; (v) approved the Company’s 2013 Equity Incentive Plan; and (vi) ratified the appointment of Hacker, Johnson & Smith, P.A., P.C., as the Company’s independent auditor for 2013.

The results of the votes cast at the Meeting on the matters noted above are set out below.

 

1. Election of Directors.

 

Directors

   Votes For      Withheld      Abstain      Broker Non-Votes  

Michael A. Callen

     11,440,838         494,908         —           8,336,579   

Lowell S. Dansker

     10,788,195         1,147,551         —           8,336,579   

Paul R. DeRosa

     11,588,359         347,387         —           8,336,579   

Stephen A. Helman

     10,788,995         1,146,751         —           8,336,579   

Wayne F. Holly

     11,590,953         344,793         —           8,336,579   

Lawton Swan, III

     11,588,159         347,587         —           8,336,579   

Thomas E. Willett

     11,588,359         347,387         —           8,336,579   

Wesley T. Wood

     11,588,359         347,387         —           8,336,579   

 

2. Contingent Election of Directors.

 

Directors

   Votes For      Withheld      Abstain      Broker Non-Votes  

C. Wayne Crowell

     11,585,409         350,037         —           8,336,579   

Susan Roth Katzke

     11,585,709         350,037         —           8,336,579   

As is indicated above, the election of Ms. Katzke and Mr. Crowell was approved by a plurality of the Company’s common stockholders at the Meeting. However, as discussed in the Company’s Definitive Proxy Statement, their election to the Company’s Board of Directors by the Company’s common stockholders was contingent upon the Company’s redemption or purchase, prior to the Meeting, of its issued and outstanding Series A Preferred Stock held by the U.S. Treasury. Because such redemption or repurchase did not occur prior to the Meeting, this contingency was not satisfied, and therefore the election of these two directors by the Company’s common stockholders was not effective. Ms. Katzke and Mr. Crowell remain on the Company’s Board of Directors as appointees of the U.S. Treasury.

 

3. Non-Binding Advisory Proposal on the Compensation of Executive Officers.

 

Votes For

    

Votes Against

  

Abstain

  

Broker Non-Votes

  11,551,120       343,437    41,189    8,336,579


4. Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation.

 

Annually

  

Every Two Years

  

Every Three Years

  

Abstain

  

Broker Non-Votes

11,592,991    103,240    132,375    107,140    8,336,579

 

5. Approval of the 2013 Equity Incentive Plan.

 

Votes For

    

Votes Against

  

Abstain

  

Broker Non-Votes

  10,314,515       1,572,095    49,136    8,336,579

 

6. Ratification of Appointment of Hacker, Johnson & Smith P.A., P.C. as independent auditor for 2013.

 

Votes For

    

Votes Against

  

Abstain

  

Broker Non-Votes

  20,124,445       130,710    17,170    0

Consistent with the preference expressed by a plurality of the Company’s stockholders in the Say on Frequency Vote (proposal #4), the Board of Directors of the Company determined, at a subsequent meeting of the Board of Directors, that the Company will hold a Say on Pay vote annually until the next Say on Frequency Vote, which will occur not later than the Company’s 2019 Annual Meeting of Stockholders.


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 thereunto duly authorized.

 

    INTERVEST BANCSHARES CORPORATION
Date: May 24, 2013     By:  

/s/ Lowell S. Dansker

    Lowell S. Dansker
    Chairman and Chief Executive Officer
   

(Principal Executive Officer)

Date: May 24, 2013     By:  

/s/ John J. Arvonio

    John J. Arvonio
    Chief Financial and Accounting Officer
   

(Principal Financial Officer)