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Mackinac Financial shareholders approve annual voting on executive compensation

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Mackinac Financial shareholders approve annual voting on executive compensation

At their meeting held May 29, Mackinac Financial Corp. stockholders approved, in a non-binding vote, an annual say-on-pay proposal.

The Manistique, Mich.-based company's board had earlier recommended that shareholders vote for an annual say-on-frequency, believing it would provide the "most consistent and clear communication channel" for stockholder concerns about executive compensation.