SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20429
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): April 28, 2001
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SALISBURY BANCORP, INC.
(Exact name of registrant as specified in charter)
Connecticut 06-1514263
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(State or other jurisdiction (IRS Employer Identification No.)
of incorporation)
5 Bissell Street, Lakeville, Connecticut 06039-1868
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(Address of principal executive offices) (zip code)
Registrant"s telephone number, including area code: (860) 435-9801
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Form 8-K, Current Report
Salisbury Bancorp, Inc.
Item 5. Other Events.
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Annual Meeting of Shareholders of Salisbury Bancorp, Inc.
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The Annual Meeting of Shareholders of Salisbury Bancorp, Inc. (the
"Company"), the holding company for Salisbury Bank and Trust Company (the
"Bank") was held on Saturday, April 28, 2001. Shareholders voted on the election
of directors, the ratification of the appointment of independent auditors and
approval of the directors' stock retainer plan.
The results of the votes of shareholders regarding each proposal are set
forth below:
PROPOSAL 1
ELECTION OF DIRECTORS
Each of the four nominees received in excess of a plurality of the
votes cast at the meeting and were elected to serve until their term expires or
their successors are elected and qualified.
The vote for electing nominees as directors was as follows:
Withholding
For Authority
John F. Perotti Number of Shares: 1,141,928 8,170
(three (3) year term) Percentage of
Shares Voted: 99.3% .7%
Percentage of Shares
Entitled to Vote: 79.1% .6%
Withholding
For Authority
Craig E. Toensing Number of Shares: 1,141,140 9,958
(three (3) year term) Percentage of
Shares Voted: 99.2% .8%
Percentage of Shares
Entitled to Vote: 79.0% .7%
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Withholding
For Authority
Michael A. Varet Number of Shares: 1,147,616 2,482
(three (3) year term) Percentage of
Shares Voted: 99.8% .2%
Percentage of Shares
Entitled to Vote: 79.5% .2%
Withholding
For Authority
Nancy F. Humphreys Number of Shares: 1,147,616 2,482
(one (1) year term) Percentage of
Shares Voted: 99.8% .2%
Percentage of Shares
Entitled to Vote: 79.5% .2%
PROPOSAL 2
RATIFICATION OF THE APPOINTMENT OF INDEPENDENT AUDITORS
The appointment of Shatswell, MacLeod & Company, P.C. as independent
auditors for the Bank for the year ending December 31, 2001 was approved because
the votes for such appointment exceeded the votes against such appointment.
The vote to ratify the appointment by the Board of Directors of
Shatswell, MacLeod & Company, P.C. as independent auditors for the
year ending December 31, 2001 was as follows:
For Against Abstain
Number of Votes: 1,134,402 1,836 13,860
Percentage of Shares Voted: 98.7% .2% 1.1%
Percentage of Shares
Entitled to Vote: 78.6% .2% .9%
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PROPOSAL 3
APPROVAL OF THE DIRECTORS' STOCK RETAINER PLAN
The Directors' Stock Retainer Plan was approved as votes for the plan exceeded
the votes against the plan.
The vote to approve the Directors' Stock Retainer Plan was as follows:
For Against Abstain
Number of Votes: 986,709 86,464 76,925
Percentage of Shares Voted: 85.8% 7.6% 6.6%
Percentage of Shares
Entitled to Vote: 68.4% 6.0% 5.3%
Election of Chairman of the Board of Directors
Following the Meeting of Shareholders, at the organizational meetings of
the Board of Directors of the Company and the Bank, the Board of Directors of
the Company elected John R. H. Blum, Chairman of the Board of Directors of
Salisbury Bancorp, Inc. The Board of Directors of the Bank also elected Mr.
Blum, Chairman of the Board of Directors of Salisbury Bank and Trust Company.
The Chairman serves at the pleasure of each Board during a term expiring at the
organizational meeting of the Board following the Annual Meeting of
Shareholders.
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 hereto duly authorized.
Dated: May 1, 2001 SALISBURY BANCORP, INC.
By: /s/ John F. Perotti
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John F. Perotti, President and
Chief Executive Officer