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Catalyst Bancorp, Inc. (CLST), a federally chartered savings institution with a market capitalization of approximately $50 million, announced the outcomes of its Annual Meeting held on May 20, 2025. The Opelousas, Louisiana-based financial institution, whose stock is trading near its 52-week high of $12.10, reported that three key proposals were voted upon during the meeting.
The first proposal involved the election of two directors, Todd A. Kidder and Kirk E. Kleiser, for a three-year term. Kidder received 2,061,219 votes for and 567,705 votes withheld, with 938,375 broker non-votes. Kleiser garnered 2,159,843 votes for, 469,081 withheld, and an identical number of broker non-votes. Both nominees were successfully elected to the board.
The second proposal was to ratify the appointment of HORNE LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal passed with a significant majority, receiving 3,453,898 votes for, 112,814 against, and 587 abstentions.
The third and final proposal put forth for shareholder vote was a non-binding resolution to approve the compensation of the company’s named executive officers. The resolution was adopted with 2,310,911 votes for, 287,138 against, and 30,875 abstentions. There were also 938,375 broker non-votes recorded for this proposal.
The meeting’s quorum was established with 3,567,299 shares represented in person or by proxy out of the 4,205,201 shares eligible to be voted. All the proposals on the agenda were successfully passed by the shareholders.
The information provided in this article is based on a press release statement from Catalyst Bancorp, Inc. and reflects the official results of the company’s Annual Meeting as recorded in their SEC filing.
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