UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): May 18, 2020
COASTAL FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
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Washington |
001-38589 |
56-2392007 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
5415 Evergreen Way, Everett, Washington 98203
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (425) 257-9000
Not Applicable
(Former name or former address, if changed since last report)
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))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Common stock, no par value per share |
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CCB |
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The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. |
b) Effective with the May 18, 2020 Annual Meeting of Shareholders, John Haugen, Jr., a member of the Board of Directors (the “Board”) of Coastal Financial Corporation (the “Company”), retired from the Board. Mr. Haugen reached the Board's mandatory retirement age during his most recent term.
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Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
The annual meeting of shareholders of the Company was held on May 18, 2020. The final results for each of the matters submitted to a vote of the shareholders at the annual meeting are as follows:
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1. |
The following individuals were elected as directors of the Company for a three-year term by the following vote: |
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FOR |
WITHHELD |
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Andrew P. Skotdal |
6,305,065 |
2,224,883 |
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Gregory A. Tisdel |
8,277,594 |
252,354 |
There were 1,187,763 broker non-votes on the proposal.
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2. |
The appointment of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020 was ratified by the shareholders by the following vote: |
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FOR |
AGAINST |
ABSTAIN |
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9,715,526 |
1,964 |
221 |
There were no broker non-votes on the proposal.
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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.
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COASTAL FINANCIAL CORPORATION |
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Date: May 20, 2020 |
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By: |
/s/ Joel G. Edwards |
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Joel G. Edwards |
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Executive Vice President and Chief Financial Officer |
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