Item 5.07 Submission of Matters to Vote of Security Holders
Altabancorp (the "Company") held a virtual special meeting of its shareholders
on August 31, 2021 (the "Special Meeting"). In conjunction with the Special
Meeting, shareholders were asked to vote on three proposals, the voting results
of each of which is provided below. Prior to the Special Meeting, the Company
delivered a definitive proxy statement/prospectus (the "Proxy Statement") to its
shareholders describing the Special Meeting, each of the proposals the proposed
merger of Glacier Bancorp, Inc. ("Glacier"), Glacier Bank, the Company, and
Altabank (the "Bank") and related information. The Proxy Statement was filed
with the U.S. Securities and Exchange Commission on July 21, 2021.
As of the close of business on July 14, 2021, the record date for the Special
Meeting, there were 18,882,463 of the Company's common shares outstanding and
entitled to vote. 15,756,567 of the Company's common shares were represented at
the Special Meeting by proxy or by attending the Special Meeting, representing
approximately 83% of Company's common shares outstanding as of the record date
and entitled to vote at the Special Meeting, which constituted a quorum to
conduct business at the Special Meeting. Virtual attendance at the Special
Meeting constituted presence in person for purposes of satisfying the quorum and
voting requirements. The following are the final voting results on the
proposals, each of which is more fully described in the Proxy Statement.
Proposal 1: To consider and vote on a proposal to approve the Plan and Agreement
of Merger, dated as of May 18, 2021 (the "merger agreement"), among Glacier,
Glacier Bank, the Company, and the Bank.
Votes Broker
Votes For Against Abstentions Non-Votes
15,544,356 205,667 6,544 0
Proposal 2: To vote on an advisory (non-binding) proposal to approve the
compensation that may become paid or payable to the named executive officers of
the Company that is based on or otherwise relates to the merger.
Votes Broker
Votes For Against Abstentions Non-Votes
6,324,647 3,900,079 5,531,842 0
Proposal 3: To approve one or more adjournments of the Company's special
meeting, if necessary or appropriate, including adjournments to solicit
additional proxies in favor of approval of the merger agreement.
Votes Broker
Votes For Against Abstentions Non-Votes
14,655,404 1,094,188 6,975 0
With respect to Proposal 3, although Proposal 3 would have received sufficient
votes to be approved, no motion was made because the adjournment of the Special
Meeting was determined not to be necessary or appropriate.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses