Magyar Bancorp 2025 Annual Meeting Highlights Key Voting Results

Magyar Bancorp, Inc. announced the results of its 2025 Annual Meeting of Stockholders, held on February 20, 2025, in a recent SEC Form 8-K filing. The meeting addressed several matters, including the election of directors, advisory votes relating to executive officer compensation, and the ratification of the company’s independent registered public accounting firm.

Matter 1 on the ballot was the election of three directors to serve three-year terms. The slate of nominees included John S. Fitzgerald, Thomas Lankey, and Joseph A. Yelencsics. According to the filing, John S. Fitzgerald received 3,678,006 shares voted for, along with 109,928 shares withheld and 1,199,650 broker non-votes. Thomas Lankey garnered 2,958,590 votes in favor, with 829,344 shares withheld and the same number of broker non-votes. Joseph A. Yelencsics earned 3,020,782 shares voted for, with 767,152 votes withheld and 1,199,650 broker non-votes.

The meeting also included two advisory, non-binding votes concerning matters related to executive officer compensation. Matter 2 asked stockholders to consider the recommended frequency for the vote on the compensation paid to the company’s named executive officers. The vote tallies were as follows: 2,967,026 votes for a one-year frequency, 98,142 for two years, 706,693 for three years, 16,073 abstentions, and 1,199,650 broker non-votes. Matter 3 presented an advisory vote on whether to approve the compensation paid to the company’s named executive officers. In that instance, the vote counted 3,587,725 in favor, 181,891 against, 18,318 abstentions, along with 1,199,650 broker non-votes.

In addition, Matter 4 concerned the ratification of the appointment of S.R. Snodgrass, P.C. as the independent registered public accounting firm for the fiscal year ending September 30, 2025. The ratification received 4,900,184 votes in favor, 81,237 against, and 6,163 abstentions; there were no broker non-votes reported for this matter.

The filing, signed by President and Chief Executive Officer John S. Fitzgerald on February 24, 2025, reflects the company’s ongoing commitment to transparent corporate governance and shareholder engagement. The detailed voting results provide insight into stockholder sentiment regarding the leadership and practices at Magyar Bancorp.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Magyar Bancorp’s 8K filing here.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.