Item 5.07 Submission of Matters to a Vote of Security Holders.
The annual meeting of shareholders (the "Annual Meeting") of GrandSouth
Bancorporation (the "Company") was held on May 18, 2022 at 5:00 p.m. at the
Company's principal executive office located at 381 Halton Road, Greenville,
South Carolina 29607. Of the 5,198,542 shares of the Company's common stock
outstanding at the Annual Meeting, there were present in person or by proxy
3,843,904 shares, representing approximately 73.94% of the total outstanding
eligible votes. At the Annual Meeting, the shareholders of the Company: (1)
elected thirteen directors to each serve a one-year term on the Company's board
of directors; (2) approved an advisory resolution to approve the compensation of
the Company's named executive officers; and (3) ratified the appointment of
Elliott Davis, LLC as the Company's independent registered public accountants
for the fiscal year ending December 31, 2022.
The final results of voting on each of the matters submitted to a vote of
shareholders during the Annual Meeting are as follows:
1. To elect thirteen directors each to serve a one-year term expiring at the
2023 annual meeting of shareholders or until their respective successors are
duly elected and qualified:
Directors: For Withhold Abstain Broker Non-Vote
Mason Y. Garrett 3,241,778 6,149 4,400 591,577
Harold E. Garrett 3,244,852 3,075 4,400 591,577
John B. Garrett 3,243,352 4,575 4,400 591,577
Michael L. Gault 3,242,840 7,686 1,801 591,577
Baety O. Gross, Jr. 3,242,740 7,786 1,801 591,577
S. Hunter Howard, Jr. 3,244,277 6,249 1,801 591,577
Anthony P. Morgan 3,247,351 3,075 1,901 591,577
J. Randolph Potter 3,242,740 7,686 1,901 591,577
J. Calhoun Pruitt, Jr. 3,242,777 7,649 1,901 591,577
Edward M. Rast, Jr. 3,245,914 4,612 1,801 591,577
James B. Schwiers 3,244,713 3,075 4,539 591,577
John W. Shealy, Jr. 3,245,814 4,612 1,901 591,577
LeeAnn Weber 3,247,451 3,075 1,801 591,577
2. A non-binding, advisory vote, to approve the compensation of the Company's
named executive officers (the "say-on-pay" vote):
For Against Abstain Broker Non-Vote
3,240,699 8,988 2,640 591,577
3. To ratify the appointment of Elliott Davis, LLC as the Company's
independent registered public accountants for the fiscal year ending December
31, 2022:
For Against Abstain
3,843,801 3 100
© Edgar Online, source Glimpses