8-k, the 2012 voting

Here is a copy of the 8-k filed by the bank regarding the voting at the 2012 annual meeting:

 

  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):  June 7, 2012 (May 17, 2012)

 

 

 

 

Princeton National Bancorp, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-20050   36-3210283
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

606 South Main Street

Princeton, Illinois

  61356
(Address of Principal Mr. Ogaard Offices)   (Zip Code)

Registrant’s telephone number, including area code:  (815) 875-4444

 

 

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.

On May 17, 2012, the Company held its annual meeting of stockholders. The results of the votes held at the meeting at which a quorum was present were as follows:

PROPOSAL #001 ELECTION OF DIRECTORS

 

***      FOR          AGAINST          WITHHELD      BROKER NON-VOTES
BENEFICIAL      829,503      0      100,113      1,101,581
REGISTERED      279,436      0      68,394     
TOTAL SHARES VOTED      1,108,939      0      168,507     
% OF VOTED      86.80%           13.19%     
% OF OUTSTANDING      33.19%           5.04%     
                   
                   
PROPOSAL #001 ELECTION OF DIRECTORS INCLUDING DIRECTOR EXCEPTIONS
                   
***      FOR      % VOTED FOR      WITHHELD      % VOTED WITHHELD
GRETTA E. BIEBER      936,401      73.30%      341,045      26.70%
GARY C. BRUCE      950,073      74.37%      327,373      25.63%
JOHN R. ERNAT      937,006      73.35%      340,440      26.65%
THOMAS D. OGAARD      1,066,470      83.48%      210,976      16.52%
TOTAL ALL DIRECTORS      3,889,950           1,219,834     
DIRECTOR AVERAGE      972,487           304,958     
% VOTED OF AVERAGE      76.13%           23.87%     
                   
                   
PROPOSAL #002 APPROVE COMP. OF THE EXECUTIVES DISCLOSED IN THE PROXY STATEMENT
                   
***      FOR      AGAINST        ABSTAIN         BROKER NON-VOTES
BENEFICIAL      707,959      205,107      16,550      1,101,581
REGISTERED      205,540      91,558      50,732     
TOTAL SHARES VOTED      913,499      296,665      67,282     
% OF VOTED      71.50%      23.22%      5.26%     
% OF OUTSTANDING      27.34%      8.87%      2.01%     
                   
                   
PROPOSAL #003 RATIFY APPOINTMENT OF BKD. LLP.
                   
                   
***      FOR      AGAINST        ABSTAIN        BROKER NON-VOTES
BENEFICIAL      1,859,199      168,230      3,768     
REGISTERED      331,609      5,947      10,274     
TOTAL SHARES VOTED      2,190,808      174,177      14,042     
% OF VOTED      92.08%      7.32%      0.59%     
% OF OUTSTANDING      65.57%      5.21%      0.42%     
                   
                   

 


PROPOSAL #004 STOCKHOLDER PROPOSAL RELATING TO THE NOMINATION OF DIRECTORS
                   
***      FOR      AGAINST      ABSTAIN      BROKER
NON-VOTES
BENEFICIAL      246,953      665,466      17,197      1,101,581
REGISTERED      150,367      174,752      22,711     
TOTAL SHARES VOTED      397,320      840,218      39,908     
% OF VOTED      31.10%      65.77%      3.12%     
% OF OUTSTANDING      11.89%      25.14%      1.19%     
                   
                   
PROPOSAL #005 IN THEIR DISCRETION, UPON OTHER MATTERS AS MAY COME BEFORE MEETING.
                   
***      FOR      AGAINST      ABSTAIN      BROKER
NON-VOTES
BENEFICIAL      287,328      98,253      308,331      1,337,285
REGISTERED      136,788      24,850      125,271     
TOTAL SHARES VOTED      424,116      123,103      433,602     
% OF VOTED      43.24%      12.55%      44.20%     
% OF OUTSTANDING      12.69%      3.68%      12.97%     

 


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.

 

(Registrant)

 

PRINCETON NATIONAL BANCORP, INC.
  (Registrant)
By:   /s/  Thomas D. Ogaard
  Thomas D. Ogaard, President and
  Chief Executive Officer

Dated: June 7, 2012

Round Two?

Next time?

   Class III Directors – Term Expires in 2013

Sharon L. Covert, 68

   Director since 2001. Secretary/Treasurer of Covert Farms, Inc., a farming operation. A member of the Corporation’s Audit Committee. Ms. Covert was chosen as a Director due to her knowledge of the agricultural sector and her involvement in the local and state level. She represents the Princeton/Illinois Valley region of the Corporation.

Mark Janko, 56

   Director since 2002. Owner and President of Janko Realty and Development, a real estate development corporation. Mr. Janko was chosen as a Director due to his knowledge of the real estate sector. He represents the Princeton/Illinois Valley region of the Corporation.

Stephen W. Samet, 67

   Director since 1986. President and General Manager of WZOE, Inc., a commercial radio broadcasting corporation. A member of the Corporation’s Audit and Executive Committees. Mr. Samet was chosen as a Director due to his knowledge and expertise in the media field. He represents the Princeton/Illinois Valley region of the Corporation.

 


Director compensation for 2011

In case you didn’t have time to look at the DEF 14A 

It’s on page 15.

Compensation of Directors

Each director of the Corporation who is also a director of Citizens Bank and who is not an employee of the Corporation or Citizens Bank received a $200 fee for each Board meeting of the Corporation attended in 2011 and $150 fee for each Board Committee meeting of the Corporation attended in 2011. Each director of the Corporation was also a director of Citizens Bank during 2011. In addition, in 2011, each non-employee director of the Corporation was awarded a grant of 4,000 stock options. The options vest over three years at a rate of one-third per year, have an exercise price of $1.53 (the average of the low and high price on grant date) and expire on December 31, 2021.

During 2011, each director of Citizens Bank who is not also an employee was paid a retainer ($19,000 per annum) plus a fee for each Board and Committee meeting attended. Each director of Citizens Bank who is not also an employee, other than the Chairman of the Board, received a $200 fee for each Citizens Bank Board meeting and a $150 fee for each Committee meeting attended in 2011. The Chairman of the Board of Citizens Bank received a $300 fee for each Board meeting attended and a $200 fee for each Committee meeting attended in 2011. The Chairman of the Audit Committee received a $200 fee for each Audit Committee meeting attended in 2011.

PNBC/CFNB Director Compensation

            Name    Fees Earned or
Paid in
Cash
($)
     Option
Awards
($)1
     Total
($)
 
               (a)    (b)      (c)      (d)  
Gretta E. Bieber    $ 23,600       $ 3,600       $ 27,200   
Gary C. Bruce    $ 25,900       $ 3,600       $ 29,500   
Sharon L. Covert    $ 24,500       $ 3,600       $ 28,100   
John R. Ernat    $ 25,100       $ 3,600       $ 28,700   
Mark Janko    $ 14,350       $ 3,600       $ 17,950   
Cindy Kurkowski    $ 3,033       $ 900       $ 3,933   
Willard Lee2    $ 2,000       $ 0       $ 2,000   
Ervin Pietsch2    $ 650       $ 0       $ 650   
Stephen W. Samet    $ 30,550       $ 3,600       $ 34,150   
Craig O. Wesner    $ 35,000       $ 3,600       $ 38,600   
1  Represents the grant date fair value of 2011 option awards.
2  Director Pietsch retired in February 2011and Director Lee in August 2011.