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Board declassification measure does not pass vote at United Financial Bancorp

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Board declassification measure does not pass vote at United Financial Bancorp

United Financial Bancorp Inc. shareholders did not pass an amendment to the certificate of incorporation to declassify the board, as the measure received a majority of shares voted in favor, but fewer than the 80% of outstanding shares needed for approval.

The proposal received 35,325,394 votes in favor and 1,385,146 votes against. There were 695,032 abstentions and 7,350,155 non-votes.

Stockholders of the Hartford, Conn.-based company held their annual meeting May 17.