Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of PBI Bank, announced today that shareholders elected seven directors, approved a non-binding advisory vote on the compensation of the company’s executives, approved the increase of the authorized shares of common stock to 86,000,000 shares of voting common stock and to 34,380,437 million shares of non-voting common stock, and approved an amendment to the 2006 Non-employee Director Incentive Stock Plan at its annual meeting of shareholders. Stockholders also defeated the proposal submitted by a stockholder that the Chairman of the Board not be an employee of the company. At the meeting, shareholders elected the following as directors to serve for a one-year term:
- Maria L. Bouvette – Chairman of the Board, President and Chief Executive Officer of Porter Bancorp, Inc.
- David L. Hawkins – CPA, farmer and private investor
- W. Glenn Hogan – CEO of commercial real estate development firm
- Sidney L. Monroe – Retired Certified Public Accountant
- Stephen A. Williams – President and Chief Executive Officer of Norton Healthcare
- W. Kirk Wycoff – Managing Member of Patriot Financial Partners, L.P.
- William G. Porter – Retired manufacturing executive