form8k51811.htm

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): May 19, 2011 (May 18, 2011)
 
______________
 
BANCORP RHODE ISLAND, INC.
(Exact name of registrant as specified in its charter)
 
______________
 
Rhode Island
(State or other jurisdiction of incorporation)

                      333-33182                                                                         05-0509802
                      (Commission File Number)                                            (IRS Employer Identification Number)
 
One Turks Head Place, Providence, Rhode Island 02903
 
(Address of principal executive offices)
 
(401) 456-5000
 
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

 

 

 
 
 
 
 

 
ITEM 5.07. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On May 18, 2011, Bancorp Rhode Island, Inc. (the “Company”) held its Annual Meeting of Shareholders (the “Meeting”) in Providence, Rhode Island.  Of the 4,688,242 shares of the Company’s common stock outstanding as of the record date, 4,492,619 shares were present or represented by proxy at the Meeting.  At the Meeting, the shareholders voted to (i) elect four Class III directors to serve until 2014, (ii) approve adoption of the Company’s Amended and Restated Non-Employee Directors Stock Plan, (iii) approve adoption of the Company’s 2011 Omnibus Equity Incentive Plan; (iv) approve an advisory (non-binding) proposal on the Company’s executive compensation, (v) approve an advisory (non-binding) proposal on the frequency of submission of the vote regarding the Company’s executive compensation and (vi) ratify the appointment of KPMG LLP as independent auditors for the Company.  The voting results from the Meeting were as follows:
 
   
For
    
Against
    
Broker Non-Vote
  
PROPOSAL 1—To elect four Class III Directors with terms expiring in 2014
                  
                   
Malcolm G. Chace
     3,099,625       894,386       498,608  
Ernest J. Chornyei
     3,826,892       167,119       498,608  
Edward J. Mack
     3,918,984       75,027       498,608  
Merrill W. Sherman
     3,837,892       156,119       498,608  
 
 
   
For
    
Against
    
Abstain
    
Broker Non-Vote
  
 
PROPOSAL 2— To consider and approve adoption of the Company’s Amended and Restated Non-Employee Directors Stock Plan
     2,989,542       1,002,028       2,441       498,608  
 
 
 
 
For
    
Against
    
Abstain
    
Broker Non-Vote
  
 
PROPOSAL 3— To consider and approve adoption of the Company’s 2011 Omnibus Equity Incentive Plan
     3,517,481       473,830       2,700       498,608  
 
 
   
For
    
Against
    
Abstain
    
Broker Non-Vote
  
 
PROPOSAL 4— To consider and approve an advisory (non-binding) proposal on the Company’s executive compensation
     3,055,270       854,239       84,502       498,608
 
 
 
 
   
Three Years
    
Two Years
    
One Year
    
Abstain
    
Broker Non-Vote
  
PROPOSAL 5— To consider and approve an advisory (non-binding) proposal on the frequency of submission of the vote regarding the Company’s executive compensation
     2,130,141       288,339       1,573,503       2,028       498,608  
 
 
   
For
    
Against
    
Abstain
  
 
PROPOSAL 6— To ratify the appointment of KPMG LLP as independent auditors for the Company
     4,277,544       205,487       9,588  


 
ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS
 
 
(c)           Exhibit
 
 
Exhibit no.                      Exhibit
 
 
None.
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  BANCORP RHODE ISLAND, INC.  
       
Date May 19, 2011
By:
/s/ Linda H. Simmons  
    Linda H. Simmons  
    Chief Financial Officer