Dime Community Bancshares, Inc. Files FORM 8-K: Annual Meeting Results and Vote Outcomes

Strategic Insights -

At its annual meeting on May 22, 2025, Dime Community Bancshares, Inc. announced the election of eight directors to serve for a term to expire at the Company's Annual Meeting of Shareholders to be held in 2026. The nominees received a significant majority of votes cast, with the highest vote count going to Kenneth J. Mahon, receiving 31,742,394 votes. The shareholders also ratified the appointment of Crowe LLP as the independent registered public accounting firm for the year ending December 31, 2025, with a majority of 37,932,959 votes cast in favor. Additionally, the compensation of the Company's named executive officers, as disclosed in the proxy statement, was approved on a non-binding, advisory basis by the shareholders, with a majority of 25,344,352 votes cast in favor.

Key Takeaways:

  • The annual meeting of Dime Community Bancshares, Inc. was held on May 22, 2025, with a total of 43,657,135 shares of Company common stock outstanding and entitled to vote.
  • A quorum was present at the meeting, represented by 38,465,309 shares of Company common stock.
  • The election of eight directors received a significant majority of votes cast, with each nominee receiving more than 30 million votes.
  • The highest vote count went to Kenneth J. Mahon, receiving 31,742,394 votes.
  • The ratification of the appointment of Crowe LLP as the independent registered public accounting firm for the year ending December 31, 2025, was approved by the shareholders with a majority of 37,932,959 votes cast in favor.
  • The compensation of the Company's named executive officers, as disclosed in the proxy statement, was approved on a non-binding, advisory basis by the shareholders, with a majority of 25,344,352 votes cast in favor.
  • The voting results show a significant level of shareholder participation, with over 95% of outstanding shares represented at the meeting.
  • The election results highlight the support for the current board of directors and senior management team.

Statistics:

  • Total shares of Company common stock outstanding and entitled to vote: 43,657,135
  • Shares of Company common stock represented at the meeting: 38,465,309
  • Majority threshold for election of directors: 38.06% (based on 37,932,959 votes cast in favor of Crowe LLP)
  • Total votes cast for proposal 2: 37,932,959
  • Total votes cast for proposal 3: 25,344,352
  • Total votes cast against proposal 3: 7,625,329
  • Total votes abstained for proposal 3: 167,544
  • Total broker non-votes for proposal 3: 5,328,084

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION, FORM 8-K, May 23, 2025
  • Dime Community Bancshares, Inc. Proxy Statement, filed on April 30, 2025