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Sandy Spring's board proposes doubling authorized common stock

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Sandy Spring's board proposes doubling authorized common stock

The board of Sandy Spring Bancorp Inc. is proposing to double the company's authorized capital stock — to 100 million common shares from 50 million common shares.

Olney, Md.-based Sandy Spring has only 11,705,016 authorized but unreserved shares still available for issuance. Its shareholders will vote on the proposal at the company's April 25 annual meeting.

Sandy Spring additionally disclosed a 2017 CEO pay ratio of 24:1. It had paid CEO Daniel Schrider $1.5 million in total compensation. The median employee received $62,004.