8-KThe WireRoutine
Shareholder Vote
Filed May 21, 2025 · 1y ago · Accession 0001104659-25-051428
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗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, 2025
INTERNATIONAL BANCSHARES CORPORATION
(Exact name of registrant as specified in
its charter)
Texas
000-9439
74-2157138
(State or other
jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
1200 San Bernardo , Laredo , Texas
78040-1359
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including
area code: ( 956 ) 722-7611
None
(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 (see General
Instruction A.2.below):
¨
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 250.13e-4 (c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class:
Trading Symbol(s)
Name of each exchange on which registered:
Common Stock, $1.00 par value
IBOC
The Nasdaq Stock Market
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. ¨
Item 5.07. Submission of Matters to a Vote of Security Holders.
On May 19, 2025, International Bancshares Corporation (the “Company”)
held its 2025 Annual Meeting of Shareholders (the “Annual Meeting”). As described in the Company’s definitive proxy
statement on Schedule 14A filed with the Securities and Exchange Commission on April 21, 2025 (the “Proxy Statement”),
the Company submitted the following proposals to its shareholders for a vote:
(1) To elect eight (8) directors to serve until the next Annual Meeting of Shareholders and until their successors
are duly elected and qualified;
(2) To ratify the appointment of RSM US LLP as the Company’s independent auditor for the fiscal year
ending December 31, 2025;
(3) To consider and approve a non-binding advisory resolution to approve the compensation of the Company’s
named executive officers as described in the Compensation Discussion and Analysis and the tabular disclosures in the accompanying Proxy
Statement; and
(4) To consider an advisory vote regarding the frequency of the advisory
approval of the Company’s executive compensation.
The following table lists the final voting results for Proposals 1,
2, and 3 at the Annual Meeting:
For
Against
Abstain
Broker Non-Votes
Election of Directors
Javier de Anda
51,617,371
177,954
17,890
4,724,245
Douglas B. Howland
47,946,633
3,647,597
218,985
4,724,245
Rudolph M. Miles
51,728,223
66,076
18,916
4,724,245
Dennis E. Nixon
50,196,920
1,598,405
17,890
4,724,245
Larry A. Norton
48,009,499
3,596,359
207,357
4,724,245
Roberto R. Reséndez
49,539,382
2,053,833
220,000
4,724,245
Antonio R. Sanchez, Jr.
44,505,566
7,289,186
18,463
4,724,245
Diana G. Zuniga
50,114,326
1,479,899
218,990
4,724,245
Ratification of RSM US LLP
56,134,617
378,418
24,425
0
Non-binding Advisory Resolution on Compensation
48,813,979
2,969,030
30,206
4,724,245
Based on the foregoing results, each director nominee named above was
elected by a majority-vote standard, which is the voting standard required by the Company’s Articles of Incorporation for uncontested
director elections. Proposals 2 and 3 were also approved by a majority vote.
With respect to Proposal 4, the advisory vote on the frequency of the
advisory approval of the Company’s executive compensation, the following table lists the final voting results for the Annual Meeting:
1 Year
2 Years
3 Years
Abstentions
Broker
Non-Votes
Non-binding Advisory Resolution on Frequency of Compensation Vote
48,263,727
26,313
3,470,536
29,335
0
The 1 year option received the highest number of votes cast by the
shareholders and is deemed to be the frequency that is preferred by the shareholders of the Company. The Company’s Board of Directors
has determined that it will include a proposal to vote on a non-binding advisory resolution to approve the compensation of the Company’s
named executive officers as described in the Compensation Discussion and Analysis and the tabular disclosures in the Company’s Proxy
Statement for the 2026 Annual Shareholders Meeting.
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.
INTERNATIONAL BANCSHARES CORPORATION
By:
/s/
Dennis E. Nixon
Dennis E. Nixon
President and Chief Executive Officer
Date: May 21, 2025
Filing details
- Ticker
- IBOC
- CIK
- 315709
- Form type
- 8-K
- Filing date
- May 21, 2025
- Report date
- May 19, 2025
- Document
- tm2515755d1_8k.htm
- Size
- 208 KB