Company: ASRV
Filing Date: 2025-06-16
Form Type: DEF 14A
Source: 0001140361-25-022675
Chunk: 12

Company: AMERISERV FINANCIAL INC /PA/
Filing Date: 2025-06-16
Form: DEF 14A
Chunk 12
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 broadly disseminated means of communication) the Board’s decision and the basis for that decision within ninety (90) calendar days from the date of the certification of the final election results. If less than two members of the nominating and corporate governance committee are elected at a meeting for the election of directors, the independent members of the Board who were elected shall consider and act upon the tendered resignation. If a director’s resignation is not accepted by the Board, such director will continue to serve until the next annual meeting and until a successor is duly elected, or the earlier of resignation or removal. If a director’s resignation is accepted by the Board, then the Board, in its sole discretion, may fill any resulting vacancy pursuant to the provisions of the Bylaws or may decrease the size of the Board pursuant to the Bylaws. For purposes of the Bylaws, a majority of the votes cast means that the number of shares voted “for” must exceed the number of shares voted “against” with respect to that director’s election. For the avoidance of doubt, votes cast shall not include abstentions. Advisory Vote on Named Executive Officer Compensation . We are required to submit Matter No. 2 to shareholders for a non-binding advisory vote to approve the compensation of our named executive officers pursuant to Section 14A of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The affirmative vote of a majority of votes cast by shareholders at the Annual Meeting is required to approve, on a non-binding basis, Matter No. 2. Abstentions and broker non-votes will not constitute or be counted as votes cast and, consequently, will have no effect on the vote on Matter No. 2. While the vote on Matter No. 2 is advisory in nature and non-binding, the Board will review the voting results and expects to take them into consideration when making future decisions regarding the compensation of our named executive officers. Advisory Vote on Frequency of Vote regarding Named Executive Officer Compensation . We are required to submit Matter No. 3 to shareholders for a non-binding advisory vote to approve the frequency of an advisory vote on the compensation of our named executive officers pursuant to Section 14A of the Exchange Act. The affirmative vote of a majority of votes cast by shareholders at the Annual Meeting is required to approve, on a non-binding basis, Matter No. 3. Abstentions and broker non-votes will not constitute or be counted as votes cast and, consequently, will have no effect on the vote on Matter No.