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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): May 19, 2025

 

INTERNATIONAL BANCSHARES CORPORATION

(Exact name of registrant as specified in its charter)

 

Texas   000-9439   74-2157138
(State or other jurisdiction
of incorporation)
 

(Commission
File Number)

  (IRS Employer
Identification No.)

 

1200 San Bernardo, Laredo, Texas   78040-1359
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:   (956) 722-7611

 

None

(Former name or former address, if changed since last report.)

 

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 (see General Instruction A.2.below):

 

¨ 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 250.13e-4 (c))

 

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

 

Title of each class:   Trading Symbol(s)   Name of each exchange on which registered:
Common Stock, $1.00 par value   IBOC   The Nasdaq Stock Market

 

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.

 

On May 19, 2025, International Bancshares Corporation (the “Company”) held its 2025 Annual Meeting of Shareholders (the “Annual Meeting”). As described in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 21, 2025 (the “Proxy Statement”), the Company submitted the following proposals to its shareholders for a vote:

 

(1)To elect eight (8) directors to serve until the next Annual Meeting of Shareholders and until their successors are duly elected and qualified;

 

(2)To ratify the appointment of RSM US LLP as the Company’s independent auditor for the fiscal year ending December 31, 2025;

 

(3)To consider and approve a non-binding advisory resolution to approve the compensation of the Company’s named executive officers as described in the Compensation Discussion and Analysis and the tabular disclosures in the accompanying Proxy Statement; and

 

(4)To consider an advisory vote regarding the frequency of the advisory approval of the Company’s executive compensation.

 

The following table lists the final voting results for Proposals 1, 2, and 3 at the Annual Meeting:

 

   For  Against  Abstain  Broker Non-Votes 
Election of Directors                 
Javier de Anda   51,617,371   177,954   17,890   4,724,245 
Douglas B. Howland   47,946,633   3,647,597   218,985   4,724,245 
Rudolph M. Miles   51,728,223   66,076   18,916   4,724,245 
Dennis E. Nixon   50,196,920   1,598,405   17,890   4,724,245 
Larry A. Norton   48,009,499   3,596,359   207,357   4,724,245 
Roberto R. Reséndez   49,539,382   2,053,833   220,000   4,724,245 
Antonio R. Sanchez, Jr.   44,505,566   7,289,186   18,463   4,724,245 
Diana G. Zuniga   50,114,326   1,479,899   218,990   4,724,245 
                  
Ratification of RSM US LLP   56,134,617   378,418   24,425   0 
                  
Non-binding Advisory Resolution on Compensation   48,813,979   2,969,030   30,206   4,724,245 

 

Based on the foregoing results, each director nominee named above was elected by a majority-vote standard, which is the voting standard required by the Company’s Articles of Incorporation for uncontested director elections. Proposals 2 and 3 were also approved by a majority vote.

 

 

 

 

With respect to Proposal 4, the advisory vote on the frequency of the advisory approval of the Company’s executive compensation, the following table lists the final voting results for the Annual Meeting:

 

   1 Year   2 Years   3 Years   Abstentions   Broker
Non-Votes
 
Non-binding Advisory Resolution on Frequency of Compensation Vote   48,263,727    26,313    3,470,536    29,335         0 

 

The 1 year option received the highest number of votes cast by the shareholders and is deemed to be the frequency that is preferred by the shareholders of the Company. The Company’s Board of Directors has determined that it will include a proposal to vote on a non-binding advisory resolution to approve the compensation of the Company’s named executive officers as described in the Compensation Discussion and Analysis and the tabular disclosures in the Company’s Proxy Statement for the 2026 Annual Shareholders Meeting.

 

 

 

 

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.

 

  INTERNATIONAL BANCSHARES CORPORATION
   
  By: /s/ Dennis E. Nixon
    Dennis E. Nixon
    President and Chief Executive Officer
   
Date: May 21, 2025