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Shareholder proposal on voting rights rejected at North Carolina-based First Citizens BancShares

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Shareholder proposal on voting rights rejected at North Carolina-based First Citizens BancShares

stockholders at their annual meeting held April 26 rejected a shareholderproposal regarding the voting rights of a class of stock.

A Form 8-Kfiled April 28 stated that 17,888,941 votes were cast against the proposal,while 4,670,232 votes were cast in favor. There were 97,499 abstentions and2,316,480 broker nonvotes.

Activistinvestor Gerald Armstrong had proposed that the board take steps to adopt a plan forall of the Raleigh, N.C.-based company's shares to have one vote per share,including requiring the Holding family shareholders to give up their"super-voting" powers.