FIRST BUSINESS FINANCIAL SERVICES, INC. 8-K

What Happened
First Business Financial Services, Inc. (FBIZ) filed an 8-K on April 29, 2026 reporting results from its April 24, 2026 Annual Meeting of Shareholders. Shareholders elected three Class I directors (Carla C. Chavarria, Jerry L. Kilcoyne and Daniel P. Olszewski) to serve until the 2029 annual meeting, approved the First Business Financial Services, Inc. 2026 Equity Incentive Plan, approved (non-binding) the compensation of named executive officers, and ratified Crowe LLP as the company’s independent auditor for the year ending December 31, 2026. Of 8,325,376 shares outstanding on the February 18, 2026 record date, 6,628,094 shares (80%) were represented at the meeting.

Key Details

• Director elections (Class I, term to 2029):
  • Carla C. Chavarria — For: 5,529,154; Withheld: 280,292; Broker non-votes: 818,648
  • Jerry L. Kilcoyne — For: 5,689,188; Withheld: 120,258; Broker non-votes: 818,648
  • Daniel P. Olszewski — For: 5,696,854; Withheld: 112,592; Broker non-votes: 818,648
  • All three were elected by plurality and each received in excess of 95% of shares voted in favor.
• 2026 Equity Incentive Plan: For 5,572,057; Against 155,880; Abstentions 81,509; Broker non-votes 818,648 — approved (filing reports 96% of shares voted cast in favor).
• Say-on-pay (advisory vote on executive compensation): For 5,506,342; Against 130,245; Abstentions 172,858; Broker non-votes 818,648 — approved (filing reports 95% of shares voted cast in favor).
• Auditor ratification: For 6,533,632; Against 31,659; Abstentions 62,803 — ratified Crowe LLP (filing reports 99% of shares voted cast in favor).

Why It Matters
These results confirm board continuity and shareholder support for management’s governance actions. Approval of the 2026 Equity Incentive Plan clears the way for the company to move forward with shareholder-authorized equity awards under that plan. The strong advisory vote on executive compensation indicates broad shareholder backing of pay policies, and ratification of Crowe LLP ensures auditor continuity for 2026. High participation (80% of outstanding shares) signals meaningful shareholder engagement with these governance matters.