Sterling Bancorp, Inc.

Form Type: 8-K

Filing Date: 2024-12-19

Corporate Action: Liquidation

Type: New

Accession Number: 000110465924130172

Comments: On December 18, 2024, Sterling Bancorp, Inc. conducted a special meeting of shareholders to vote on significant corporate actions. The company had previously entered into a Stock Purchase Agreement with EverBank Financial Corp, to sell all outstanding shares of its subsidiary, Sterling Bank and Trust, F.S.B., for $261 million. In correlation with this transaction, Sterling Bancorp approved a Plan of Dissolution, aiming to dissolve the company post-transaction closure. The voting results indicated strong support for both the Stock Purchase Agreement and the Plan of Dissolution, with 37,818,429 votes for the Stock Purchase Agreement and 37,818,561 for the Plan of Dissolution. A separate compensation proposal for executive officers was also presented, receiving mixed results. The company also issued a press release to announce these results on the same day.

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