Triad Business Bank 2022 Annual Meeting of Shareholders - Voting Results

Rhea-AI Summary

Triad Business Bank (OTC Pink: TBBC) held its annual meeting of shareholders on June 8, 2022, where all seven director nominees were successfully elected. Additionally, shareholders approved an amendment to the long-term stock incentive plan, increasing the number of shares reserved for issuance from 500,000 to 660,000. The appointment of Dixon Hughes Goodman LLP, now known as FORVIS LLP, was also ratified.

This meeting highlights the bank's commitment to governance and employee incentives as it focuses on serving small to midsize businesses with robust banking solutions.

Positive

• All seven director nominees were elected, indicating strong leadership continuity.
• Approved increase in stock incentive plan shares to 660,000, enhancing employee compensation opportunities.

Negative

• None.

GREENSBORO, N.C., June 13, 2022 /PRNewswire/ -- Triad Business Bank (OTC Pink: TBBC)(the "Bank") held its annual meeting of shareholders on June 8, 2022.  At the meeting the seven director nominees were elected for the terms specified in the Bank's proxy statement, the proposal to amend the Bank's long-term stock incentive plan to increase the number of shares reserved for issuance to 660,000 shares was approved, and the appointment of Dixon Hughes Goodman LLP, now operating as FORVIS LLP, was ratified.

About Triad Business Bank

With three co-equal offices located in Winston-Salem, High Point and Greensboro, Triad Business Bank focuses on meeting the needs of small to midsize businesses and their owners by providing loans, treasury management and private banking, all with a high level of personal attention and best-in-class technology.  For more information, visit www.triadbusinessbank.com  

View original content:https://www.prnewswire.com/news-releases/triad-business-bank-2022-annual-meeting-of-shareholders--voting-results-301566744.html

SOURCE Triad Business Bank

FAQ

What were the results of Triad Business Bank's annual meeting on June 8, 2022?

During the annual meeting, all seven director nominees were elected and the proposal to increase the stock incentive plan to 660,000 shares was approved.

Who was appointed as the auditor for Triad Business Bank at the June 2022 meeting?

Dixon Hughes Goodman LLP, now known as FORVIS LLP, was ratified as the auditor at the annual meeting.

What is the significance of increasing the stock incentive plan to 660,000 shares for TBBC?

The increase aims to improve employee compensation and retention, aligning employee interests with shareholder value.