MetroCity Bankshares, Inc. 8-K

What Happened

• MetroCity Bankshares, Inc. filed an 8-K reporting the results of its 2026 Annual Meeting of Shareholders held on May 21, 2026. Of 28,660,042 shares outstanding as of the record date, 20,401,807 shares (71.19%) were represented, constituting a quorum. Shareholders voted to elect five directors named in the proxy and to ratify Crowe LLP as the Company’s independent registered public accounting firm for 2026. The filing is signed by Farid Tan, President and Interim CFO, dated May 22, 2026.

Key Details

• Shares represented/quorum: 20,401,807 of 28,660,042 outstanding shares (71.19%).
• Director election results (votes FOR): Nack Y. Paek 16,982,395; Frank Glover 16,943,541; William J. Hungeling 16,979,414; Francis Lai 14,879,733; David Shim 17,451,669. Broker non-votes reported where disclosed.
• Auditor ratification: Crowe LLP ratified with 20,346,364 votes FOR, 16,551 AGAINST, and 22,912 ABSTAIN.
• Say-on-pay frequency: The Board determined, consistent with the non-binding advisory vote, that future shareholder advisory votes on executive compensation will occur every two years.

Why It Matters

• Corporate governance: The re-election/appointment of directors and the Board’s decision on the frequency of say-on-pay affect board composition and how often shareholders vote on executive pay policy.
• Audit oversight: Ratification of Crowe LLP confirms the auditors for the 2026 fiscal year, which is relevant to financial reporting and investor confidence.
• Voting participation: With roughly 71% of shares represented, these results reflect substantial shareholder participation and set the governance course for the next several years.