SR Bancorp, Inc. (NASDAQ: SRBK) Completes Approval of Equity Incentive Plan – November 20, 2024

SR Bancorp, Inc., a Maryland-based financial institution, announced the successful approval of its 2024 Equity Incentive Plan during an Annual Meeting of Stockholders held on November 20, 2024. The company’s stockholders voted to approve the Equity Plan, with details of the plan outlined in the definitive proxy statement filed on October 17, 2024, with the Securities and Exchange Commission.

During the meeting, several matters were brought to a vote, including the election of directors for a three-year term or until their respective successors are duly elected and qualified. The following individuals were elected as directors:

– Mary E. Davey with 4,649,572 votes in favor and 379,206 votes withheld
– Thomas Lupo with 4,653,796 votes in favor and 374,982 votes withheld
– John W. Mooney with 4,611,525 votes in favor and 444,163 votes withheld

Additionally, the SR Bancorp, Inc. 2024 Equity Incentive Plan received approval with 4,581,684 votes in favor, 317,811 votes against, and 156,193 abstentions. The appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025, was ratified with 7,140,225 votes in favor, 177,082 votes against, and 22,443 abstentions.

As an emerging growth company, SR Bancorp, Inc. affirmed its compliance with Rule 405 of the Securities Act of 1933 and indicated its decision not to utilize the extended transition period for adhering to new or revised financial accounting standards provided under Section 13(a) of the Exchange Act.

The Company filed the SR Bancorp, Inc. 2024 Equity Incentive Plan as Exhibit 10.1 to its Current Report on Form 8-K and confirmed the appointment of William P. Taylor as Chief Executive Officer, signing the report on November 21, 2024.

In other related news, Phoenix Motor Inc. (NASDAQ: PEV) announced on November 21, 2024, that it received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC due to non-compliance with Nasdaq Listing Rule 5250(c)(1) stemming from the late filing of its Quarterly Report on Form 10-Q for the period ended September 30, 2024.,readonly.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SR Bancorp’s 8K filing here.

SR Bancorp Company Profile

SR Bancorp, Inc operates as the holding company for Somerset Regal Bank that provides customary retail and commercial banking services to individuals, businesses, and local municipalities in the communities of Somerset, Middlesex, Hunterdon, and Essex counties in New Jersey. It offers deposit instruments, including noninterest-bearing demand deposits, interest-bearing demand accounts, savings accounts, money market accounts, and certificates of deposit.