Sign in Subscribe
Securities law

Community West Bancshares Submits Annual Meeting Results to SEC

Strategic Insights

— 1 min read

Community West Bancshares, a community bank in California, has filed its 2025 Annual Meeting results with the U.S. Securities and Exchange Commission. The report, dated May 21, 2025, details the voting outcome for various matters, including the election of directors and the approval of executive compensation. The meeting saw a significant turnout, with 78.93% of outstanding shares represented and voting.

Key Takeaways:

  • The election of directors saw the incumbents secure their positions, with all nominees receiving a majority of votes.
  • Director Robert H. Bartlein received the highest number of votes with 13,071,116, while William S. Smittcamp received the lowest with 12,000,166 votes.
  • The Community West Bancshares 2025 Omnibus Incentive Plan was approved by 64.2% of voting shares, with 12,600,858 votes in favor and 642,773 against.
  • The ratification of Moss Adams LLP as the Company's independent registered public accounting firm for the 2025 fiscal year was approved by 88.6% of voting shares, with 14,834,146 votes in favor and 194,168 against.
  • The adoption of a non-binding advisory resolution approving executive compensation was approved by 71.6% of voting shares, with 12,046,426 votes in favor and 589,148 against.
  • The company's proxy statement, dated April 4, 2025, listed the nominees for the Board of Directors.
  • The Community West Bancshares Annual Meeting of Shareholders was held on May 21, 2025, with 15,045,039 shares represented and voting.

Statistics:

  • 78.93% of outstanding shares were represented and voting at the Annual Meeting.
  • 1,754,805 broker non-votes were recorded in the election of directors and other matters.
  • 13,244,113 votes were cast in favor of James W. Lokey's election, representing 89.1% of all votes cast.
  • 642,773 shares voted against the approval of the Community West Bancshares 2025 Omnibus Incentive Plan.
  • 1,754,805 broker non-votes were recorded in the ratification of Moss Adams LLP and other matters.

Sources:

  • 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
  • Community West Bancshares - CA (State or other jurisdiction of incorporation)
  • 000-31977 (Commission File Number)
  • 77-0539125 (IRS Employer Identification Number)

Read more