UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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Explanatory Note
Item 5.07. Submission of Matters to a Vote of Security Holders.
At the Company’s 2023 Annual Meeting of Shareholders, the Company’s shareholders voted on, among other matters, a proposal regarding the frequency of future shareholder advisory votes on the compensation of the Company’s named executive officers, or “say-on-pay” votes. As previously reported by the Company in the Original Filing, a majority of the votes cast on the frequency proposal were cast in favor of holding an annual say-on-pay vote, which was also the frequency recommended to the shareholders by the Company’s Board of Directors.
In light of the voting results with respect to the frequency proposal, at a meeting held on May 24, 2023, the Company’s Board of Directors determined that the Company will hold an advisory say-on-pay vote each year in connection with its annual meeting of shareholders until the next vote on the frequency of shareholder advisory votes on the compensation of executives or until the Company’s Board of Directors otherwise determines that a different frequency for such advisory votes is in the best interests of the shareholders. The next advisory vote on the frequency of future say-on-pay votes will occur no later than 2029.
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.
| Dated: May 24, 2023 | FIRST US BANCSHARES, INC. | |||||
| By: | /s/ Beverly J. Dozier | |||||
| Name: | Beverly J. Dozier | |||||
| Senior Vice President, Secretary and Assistant Treasurer | ||||||
Document and Entity Information |
Apr. 27, 2023 |
|---|---|
| Cover [Abstract] | |
| Amendment Flag | true |
| Entity Central Index Key | 0000717806 |
| Document Type | 8-K/A |
| Document Period End Date | Apr. 27, 2023 |
| Entity Registrant Name | First US Bancshares, Inc. |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 0-14549 |
| Entity Tax Identification Number | 63-0843362 |
| Entity Address, Address Line One | 3291 U.S. Highway 280 |
| Entity Address, City or Town | Birmingham |
| Entity Address, State or Province | AL |
| Entity Address, Postal Zip Code | 35243 |
| City Area Code | (205) |
| Local Phone Number | 582-1200 |
| Security 12b Title | Common Stock, $0.01 par value |
| Trading Symbol | FUSB |
| Security Exchange Name | NASDAQ |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Entity Emerging Growth Company | false |
| Amendment Description | This Current Report on Form 8-K/A (this “Amendment”) amends the Current Report on Form 8-K filed by First US Bancshares, Inc. (the “Company”) with the Securities and Exchange Commission on April 28, 2023 (the “Original Filing”). The sole purpose of this Amendment is to disclose the Company’s decision regarding how frequently it will conduct shareholder advisory votes on the compensation of the Company’s named executive officers. No other changes have been made to the Original Filing. |