false 0001692376 0001692376 2024-05-17 2024-05-17

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 17, 2024

 

 

Velocity Financial, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-39183   46-0659719

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

30699 Russell Ranch Road, Suite 295

Westlake Village, California

     91362
(Address of Principal Executive Offices)     (Zip Code)

Registrant’s Telephone Number, Including Area Code: (818) 532-3700

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

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, par value $0.01 per share   VEL   The New York Stock Exchange

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.

We held our Annual Meeting of Shareholders on May 17, 2024 to allow our stockholders to vote on the matters disclosed in our Proxy Statement. The final voting results for the matters submitted to a vote of stockholders were as follows:

Proposal I: Election of Directors.

All of our Directors were re-elected and received the following votes:

 

     Number of Votes      Broker
Non-Votes		  
     For      Against      Abstain  

Dorika M. Beckett

      32,032,152        209,478        23,987        349,332  

Michael W. Chiao

      32,199,745        41,885        23,987        349,332  

Christopher D. Farrar

      32,206,798        34,831        23,988        349,332  

Alan H. Mantel

      32,196,232        45,397        23,988        349,332  

John P. Pitstick

      32,211,268        30,362        23,987        349,332  

John A. Pless

      31,814,917        426,713        23,987        349,332  

Joy L. Schaefer

      32,032,152        209,478        23,987        349,332  

Omar Maasarani

      32,205,097        36,559        23,961        349,332  

Proposal II: The approval of our named executive officers’ compensation on an advisory basis, including the following resolution:

Resolved, that the compensation paid to the Named Executive Officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the related narrative disclosure is approved.

Our shareholders voted as noted below and approved the resolution and our 2023 executive compensation.

 

     Number of
Votes		  

For

      32,192,729  

Against

      45,527  

Abstain

      27,361  

Broker Non-Votes

      349,332  

Proposal III. The ratification of RSM US LLP as our independent auditor for 2024.

Our shareholders ratified RSM US LLP as our independent auditor for 2024 with the following votes:

 

     Number of Votes  

For

      32,448,407  

Against

      163,141  

Abstain

      3,401  

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

104    Cover Page Interactive File (embedded with the Inline XBRL document)

SIGNATURES

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.

 

    Velocity Financial, Inc.
May 23, 2024        

/s/ Roland T. Kelly

      Roland T. Kelly
      Chief Legal Officer, General Counsel and Corporate Secretary
v3.24.1.1.u2
Document and Entity Information
May 17, 2024
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001692376
Document Type 8-K
Document Period End Date May 17, 2024
Entity Registrant Name Velocity Financial, Inc.
Entity Incorporation State Country Code DE
Entity File Number 001-39183
Entity Tax Identification Number 46-0659719
Entity Address, Address Line One 30699 Russell Ranch Road
Entity Address, Address Line Two Suite 295
Entity Address, City or Town Westlake Village
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91362
City Area Code (818)
Local Phone Number 532-3700
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common stock, par value $0.01 per share
Trading Symbol VEL
Security Exchange Name NYSE
Entity Emerging Growth Company false
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