Wayne Savings Announces 2022 Annual Meeting Voting Results
On April 28, 2022, Wayne Savings Bancshares (OTCQX: WAYN) held its Annual Meeting of Stockholders, where a number of key proposals were voted on. Notably, three directors were elected to serve until the 2025 annual meeting. Stockholders approved an amendment to the 2020 Stock Equity Plan and passed an advisory vote on executive compensation. Additionally, they ratified the appointment of BKD, LLP as the independent auditor for 2022. CEO James VanSickle expressed gratitude for shareholder support, noting five consecutive years of record earnings.
- Three directors elected for a full term until 2025, indicating shareholder confidence.
- Approval of the amendment to the 2020 Stock Equity Plan, enhancing employee incentives.
- Successful advisory vote on executive compensation, reflecting shareholder approval.
- BKD, LLP retained as independent auditor for 2022, ensuring continued oversight.
- None.
WOOSTER, Ohio, April 29, 2022 (GLOBE NEWSWIRE) -- On April 28, 2022, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the “Company”) held its 2022 Annual Meeting of Stockholders (the “Annual Meeting”). The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.
Proposal 1: To elect three (3) directors to serve until the 2025 annual meeting of stockholders.
The three nominees who received a plurality of “FOR” votes are elected as directors. The final report of the inspector of elections tabulation of voting results is set forth below:
Board of Directors Nominees:
| Nominee | For | Withheld | Broker Non-Votes |
| Jonathan Ciccotelli | 1,235,333 | 275,260 | 432,138 |
| Mark R. Witmer | 1,197,756 | 312,837 | 432,138 |
| Lance J. Ciroli | 1,229,929 | 280,663 | 432,138 |
Proposal 2: Vote on the Amendment of the 2020 Stock Equity Plan
According to the final report of the inspector of election tabulation voting results, stockholders approved the proposed amendment to the 2020 Stock Equity Plan. The final report of the inspector of elections tabulation of voting results is set forth below:
| For | Against | Abstain | Broker Non-Votes |
| 1,181,278 | 318,971 | 10,344 | 432,138 |
Proposal 3: Advisory vote on executive compensation.
According to the final report of the inspector of election tabulation voting results, stockholders adopted the advisory (non-binding) resolution to approve the Company’s executive compensation, as described in the Company’s proxy statement, by the votes indicated below:
| For | Against | Abstain | Broker Non-Votes |
| 1,151,332 | 303,138 | 56,123 | 432,138 |
Proposal 4: To ratify the appointment of BKD, LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2022.
According to the final report of the inspector of election tabulation of voting results, stockholders ratified the appointment of BKD, LLP as independent registered public accounting firm for the year ending December 31, 2022, by the votes indicated below:
| For | Against | Abstain | Broker Non-Votes |
| 1,651,349 | 273,139 | 18,242 | - |
President and CEO James VanSickle commented on the results, “We appreciate the support of our shareholders for voting with the recommendations for every proposal this year. 2021 was the fifth consecutive year of record earnings for the Company and it would not have been possible without the support of our shareholders, customers and amazing employees. I would like to thank you for your support of Wayne Savings and giving us an opportunity to make a difference in our communities.”
Executive Chair Mark R. Witmer echoed VanSickle’s appreciation for the shareholder support, and added, “We are excited about our opportunities and look forward to maintaining our momentum in 2022 and beyond. Wayne Savings’ leadership team and our outstanding group of community bankers remain committed to support our local customers and businesses meet their financial goals. I would like to thank our shareholders for their continued involvement and confidence in Wayne Savings Bancshares, Inc.”
Forward-Looking-Statements
This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, Company performance and financial results. A variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this letter and in the Management’s Discussion and Analysis in our most recent Annual Report for the year ended December 31, 2021. The forward-looking statements in this letter speak only as to the date of this release. Wayne Savings Bancshares, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based.
Contact Information:
James R. VanSickle
President and Chief Executive Officer
(330) 264-5767
FAQ
What were the results of Wayne Savings Bancshares' April 2022 Annual Meeting?
Who were elected as directors during the Wayne Savings Bancshares Annual Meeting?
How did shareholders vote on the executive compensation proposal at Wayne Savings Bancshares?
What is the significance of the 2020 Stock Equity Plan amendment approved by Wayne Savings Bancshares shareholders?
What were the vote tallies for the directors elected at Wayne Savings Bancshares' Annual Meeting?
