opbk-20250626
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 26, 2025
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OP BANCORP
(Exact name of registrant as specified in its charter)
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| California | 001-38437 | 81-3114676 | ||||||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
1000 Wilshire Blvd., Suite 500, Los Angeles, CA | 90017 | |||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (213) 892-9999
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Common Stock, no par value | OPBK | NASDAQ Global Market | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item 5.07. Submission of Matters to a Vote of Security Holders
On June 26, 2025, OP Bancorp (the “Company”), the holding company for Open Bank, held its 2025 annual meeting of shareholders (the “Annual Meeting”). The Company’s shareholders considered four proposals at the Annual Meeting, each of which was described in more detail in the Company’s definitive proxy statement (the “2025 Proxy Statement”) for the Annual Meeting, which was filed with the Securities and Exchange Commission on May 16, 2025. There were 11,062,842 shares represented by valid proxies or voted at the Annual Meeting, or 74.50% of the total shares outstanding. At the Annual Meeting, shareholders voted on the following matters: (i) elected all of the seven director nominees named in the 2025 Proxy Statement for a one-year term expiring at the 2026 annual meeting of shareholders (“Proposal 1”), (ii) approved, on a non-binding, advisory basis, the 2024 compensation of the Company’s named executive officers (“Proposal 2”), (iii) voted, on a non-binding, advisory basis, on the frequency of future non-binding, advisory votes on the compensation of the Company’s named executive officers (“Proposal 3”); (iv) ratified the appointment of Crowe LLP as the Company’s independent registered public accounting firm for 2025 (“Proposal 4”). Final voting results from the meeting are as follows:
Proposal 1 - Election of Directors
| Nominee | Votes For | Votes Withheld | Broker Non-Votes | |||||||||||||||||
| Hyung J. Kim | 8,626,080 | 303,312 | 2,133,450 | |||||||||||||||||
| Min J. Kim | 8,625,990 | 303,402 | 2,133,450 | |||||||||||||||||
| Sunny Kwon | 8,630,232 | 299,160 | 2,133,450 | |||||||||||||||||
Sang K. Oh | 8,727,714 | 201,678 | 2,133,450 | |||||||||||||||||
| Yong Sin Shin | 8,704,030 | 225,362 | 2,133,450 | |||||||||||||||||
| Myung Shin Sohn | 8,867,990 | 61,402 | 2,133,450 | |||||||||||||||||
Ki Won Yoon | 8,842,334 | 87,058 | 2,133,450 | |||||||||||||||||
Proposal 2 - Advisory Vote on Executive Compensation
| Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||||||||
| 8,574,990 | 296,287 | 58,115 | 2,133,450 | |||||||||||||||||
Proposal 3 - Advisory Vote on Frequency of Shareholder Vote Regarding Executive Compensation
Votes For One Year | Votes for Two Years | Votes for Three Years | Abstain | Broker Non-Votes | ||||||||||||||||||||||
| 8,535,724 | 2,472 | 377,840 | 13,356 | 2,133,450 | ||||||||||||||||||||||
Proposal 4 - Ratification of Independent Registered Public Accounting Firm
| Votes For | Votes Against | Abstain | ||||||||||||
| 10,957,544 | 101,641 | 3,657 | ||||||||||||
No other matters were submitted for shareholder action.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| OP Bancorp | ||||||||
| Date: June 26, 2025 | By: | /s/ Jaehyun Park | ||||||
| Jaehyun Park | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
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