Company: CFBK
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060182
Chunk: 49

Company: CF BANKSHARES INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 49
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 any decision made by the Company’s Board of Directors or the Compensation Committee; or (iii) create or imply any additional fiduciary duty by the Company’s Board of Directors or the Compensation Committee. However, the Compensation Committee expects to take into account the outcome of the advisory vote when considering future executive compensation arrangements.

Under the Bylaws, the affirmative vote of a majority of the votes cast is required to approve Proposal 2. Abstentions and broker non-votes will not be counted as votes “FOR” or “AGAINST” this proposal and will have no effect on the outcome of this proposal.

The Board of Directors recommends that you vote “FOR” Proposal 2.

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PROPOSAL 3 –

NON-BINDING ADVISORY VOTE ON THE FREQUENCY OF FUTURE STOCKHOLDER ADVISORY VOTES ON EXECUTIVE COMPENSATION</div>

In Proposal 2 above, stockholders are being asked to vote on an advisory resolution on the approval of the compensation of the Company’s named executive officers. The Company’s stockholders have previously voted on this type of advisory resolution every year since 2013. Under the Dodd-Frank Act and corresponding SEC rules, the Company is required to include a separate resolution subject to a separate stockholder advisory vote at least once every six years with respect to the frequency of the future advisory votes on the compensation of the Company’s named executive officers. The last such advisory vote occurred at the Company’s 2019 annual meeting of stockholders. As a result, the Company is now asking stockholders to vote, on an advisory and non-binding basis, on how frequently they would like to cast an advisory vote on the compensation of the Company’s named executive officers. By voting on this proposal, stockholders may indicate whether they would prefer an advisory vote on named executive officer compensation every one year, every two years or every three years. Accordingly, the following resolution is submitted for an advisory stockholder vote at the Annual Meeting:

“RESOLVED, that the stockholders of CF Bankshares, Inc (the “Company”) advise that an advisory resolution with respect to executive compensation should be presented to the Company’s stockholders every 1 year, every 2 years, or every 3 years, as reflected by the stockholders’ votes for each of these alternatives in connection with this resolution.”

In voting on this resolution, you should mark your proxy card or submit your voting instructions for every “1 YEAR”, every “2 YEARS” or every “3 YEARS