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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

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 20, 2021

 

 

PS BUSINESS PARKS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

California   001-10709   95-4300881

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS. Employer

Identification No.)

 

701 Western Avenue,
Glendale, California
  91201-2349
(Address of principal executive offices)   (Zip Code)

(818) 244-8080

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading
Symbol

 

Name of Each Exchange
on Which Registered

Common Stock, $0.01 par value per share

  PSB   New York Stock Exchange

Depositary Shares Each Representing 1/1,000 of a 5.200% Cum Pref Stock, Series W, $0.01 par value

  PSBPrW   New York Stock Exchange

Depositary Shares Each Representing 1/1,000 of a 5.250% Cum Pref Stock, Series X, $0.01 par value

  PSBPrX   New York Stock Exchange

Depositary Shares Each Representing 1/1,000 of a 5.200% Cum Pref Stock, Series Y, $0.01 par value

  PSBPrY   New York Stock Exchange

Depositary Shares Each Representing 1/1,000 of a 4.875% Cum Pref Stock, Series Z, $0.01 par value

  PSBPrZ   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.07

Submission of Matters to a Vote of Security Holders.

Four proposals were submitted to PS Business Parks, Inc. (the “Company”) common shareholders for a vote at the 2021 Annual Meeting of Shareholders (the “Annual Meeting”) held on April 20, 2021. The third proposal was also submitted to the Company’s preferred shareholders, voting separately as a single class, at the Annual Meeting.

The four proposals are described in detail in the Company’s proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on March 19, 2021. The final results for the common shareholder votes for each proposal are set forth below.

 

  1.

The common shareholders elected nine directors to the Board of Directors to hold office until the 2022 Annual Meeting or until their successors are duly qualified and elected. The votes for each nominee were as follows:

 

Name

  

Votes For

  

Withheld

  

Broker Non-Votes

Ronald L. Havner, Jr.

   24,593,169    1,535,780    302,361

Maria R. Hawthorne

   25,498,851    630,098    302,361

Jennifer Holden Dunbar

   25,969,373    159,576    302,361

Kristy M. Pipes

   26,080,153    48,796    302,361

Gary E. Pruitt

   26,094,920    34,029    302,361

Robert S. Rollo

   26,059,389    69,560    302,361

Joseph D. Russell, Jr.

   26,023,971    104,978    302,361

Peter Schultz

   26,095,471    33,478    302,361

Stephen W. Wilson

   26,084,271    44,678    302,361

 

  2.

The common shareholders approved the advisory vote to approve the compensation of named executive officers as follows:

 

Votes For

  

Votes Against

  

Abstain

  

Broker Non-Votes

25,532,136

   576,988    19,825    302,361

 

  3.

The common shareholders approved the reincorporation of the Company from the State of California to the State of Maryland as follows:

 

Votes For

  

Votes Against

  

Abstain

  

Broker Non-Votes

26,016,837

   91,612    20,500    302,361

 

  4.

The common shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2021 as follows:

 

Votes For

  

Votes Against

  

Abstain

26,004,565

   409,027    17,718

The meeting has been adjourned until Tuesday, May 4, 2021 at 11:00 a.m. PT at the Company’s corporate headquarters at 701 Western Avenue, Glendale, California 91201, solely with respect to the continuing consideration of preferred shareholders of the proposal to reincorporate the Company from the State of California to the State of Maryland.


SIGNATURES

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 hereunto duly authorized.

 

    PS BUSINESS PARKS, INC.
    By:  

/s/ Jeffrey D. Hedges

Date: April 26, 2021      

Jeffrey D. Hedges

Chief Financial Officer