<SEC-DOCUMENT>0001140361-21-009318.txt : 20210319
<SEC-HEADER>0001140361-21-009318.hdr.sgml : 20210319
<ACCEPTANCE-DATETIME>20210319155806
ACCESSION NUMBER:		0001140361-21-009318
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210317
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
FILED AS OF DATE:		20210319
DATE AS OF CHANGE:		20210319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWAY FINANCIAL CORP \DE\
		CENTRAL INDEX KEY:			0001001171
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				954547287
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39043
		FILM NUMBER:		21758088

	BUSINESS ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
		BUSINESS PHONE:		3236341700

	MAIL ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>brhc10022006_8k.htm
<DESCRIPTION>8-K
<TEXT>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D. C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Section 13 or 15(d) of the</div>
    <div style="text-align: center; font-weight: bold;">Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center;">Date of Report (Date of earliest event reported): <font style="font-weight: bold;"> March 17, 2021</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BROADWAY FINANCIAL CORPORATION</div>
    <div style="text-align: center;">&#160;(Exact name of registrant as specified in its charter)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfc268e088be94c388c3b0eefe66d2f62">

        <tr>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Delaware</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">001-39043</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">95-4547287</div>
          </td>
        </tr>
        <tr>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(State of Incorporation)</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(Commission File Number)</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(IRS Employer Identification No.)</div>
          </td>
        </tr>

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    <div><br>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb186c09504a74de88b3b3557c5874d7c">

        <tr>
          <td style="width: 66%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">5055 Wilshire Boulevard Suite 500, Los Angeles, California</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">90036</div>
          </td>
        </tr>
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          <td style="width: 66%; vertical-align: top;">
            <div style="text-align: center;">(Address of Principal Executive Offices)</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">Registrant&#8217;s telephone number, including area code:<font style="font-weight: bold;">&#160; &#160; (323) 634-1700</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">NOT APPLICABLE</div>
    <div style="text-align: center;">(Former name or former address, if changed since last report)</div>
    <div><br>
    </div>
    <div>Securities registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 33.99%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Title&#160;of&#160;each&#160;class:</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Trading&#160;Symbol(s)</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Name&#160;of&#160;each&#160;exchange&#160;on&#160;which&#160;registered:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.99%; vertical-align: top;">
            <div style="text-align: center;">Common Stock, par value $0.01 per share (including attached preferred stock purchase rights)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center;">BYFC</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">The Nasdaq Stock Market LLC</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>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:</div>
    <div><br>
    </div>
    <div>
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            <td style="vertical-align: top; width: 18pt;"> &#9744; </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
            </td>
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              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">&#9744;</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
            </td>
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      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zff628550a9f644728be05c1a19cd9dc5" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">

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              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">&#9744;</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
            </td>
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    </div>
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            <td style="vertical-align: top; width: 18pt;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">&#9744;</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Emerging growth company &#9744;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">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. &#9744;</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;">
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    <div><font style="font-weight: bold;">Item 5.07</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Submission of Matters to a Vote of Security Holders</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;">A special meeting of the stockholders of Broadway Financial Corporation (&#8220;Broadway&#8221;) was held on March 17, 2021 (the &#8220;Special Meeting&#8221;) to vote on the
      proposals set forth in the definitive joint proxy statement/prospectus of Broadway, filed with the U.S. Securities and Exchange Commission on February 9, 2021 (the &#8220;Proxy Statement&#8221;).&#160; A total of 14,199,351 shares of Broadway voting common stock were
      represented in person or by proxy.&#160; This represented approximately 73.6% of the shares of Broadway voting common stock that were outstanding and entitled to vote at the Special Meeting, constituting a quorum for all matters to be presented at the
      Special Meeting.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The proposals presented at the Special Meeting and the tabulation of the stockholder votes on each proposal are as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(1)&#160; Proposal to approve the Agreement and Plan of Merger dated August 25, 2020 between Broadway and CFBanc Corporation (&#8220;CFBanc&#8221;), as amended January 14, 2021
      (as the same may be amended from time to time, the &#8220;Merger Agreement&#8221;), pursuant to which CFBanc will merge with and into Broadway (the &#8220;Merger&#8221;), which approval also constitutes approval of the amended and restated certificate of incorporation for
      Broadway attached as Annex D to the Proxy Statement.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The stockholders approved the Merger Agreement, with 11,173,486 shares voting &#8220;for&#8221;, 26,726 shares voting &#8220;against&#8221; and 10,180 shares abstaining.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><a name="z_Hlk66884699"></a>Broker non-votes received with respect to this proposal were 2,988,959.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(2)&#160; Proposal to approve amendments to Broadway&#8217;s certificate of incorporation to effect the conversion of Broadway to a &#8220;public benefit corporation&#8221; as
      defined and provided for by the Delaware General Corporation Law, but only if the Merger is completed.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The stockholders approved the amendments to Broadway&#8217;s certificate of incorporation, with 11,029,977 shares voting &#8220;for&#8221;, 73,226 shares voting &#8220;against&#8221; and
      107,189 shares abstaining.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: -45pt; margin-left: 45pt;">Broker non-votes received with respect to this proposal were 2,988,959.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(3)&#160; Proposal to approve an increase in the authorized number of shares of Broadway&#8217;s voting common stock, which will become Broadway Class A common stock upon
      completion of the Merger.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The stockholders approved the increase in the authorized number of shares of Broadway&#8217;s voting common stock, with 13,740,847 shares voting &#8220;for&#8221;, 395,659
      shares voting &#8220;against&#8221; and 62,845 shares abstaining.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">No broker non-votes were received with respect to this proposal.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><a name="OLE_LINK5"></a><a name="OLE_LINK6"></a>(4)&#160; Proposal to approve, on an advisory (non-binding) basis, the executive officer compensation that will or
      may be paid to Broadway executive officers in connection with the Merger.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The stockholders approved the executive officer compensation on an advisory (non-binding) basis, with 10,942,536 shares voting &#8220;for&#8221;, 217,989 shares voting
      &#8220;against&#8221; and 49,867 shares abstaining.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    </div>
    <div style="text-align: justify;">Broker non-votes received with respect to this proposal were 2,988,959.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(5)&#160; Proposal to approve, pursuant to Nasdaq Listing Rule 5635(d), <a name="z_Hlk66877181"></a>proposed sales of up to 18,474,000 shares of Broadway common
      stock in private placements to institutional and accredited investors at a purchase price of $1.78 per share.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The stockholders approved the proposed sales of up to 18,474,000 shares of Broadway common stock in private placements to institutional and accredited
      investors at a purchase price of $1.78 per share, with 10,730,970 shares voting &#8220;for&#8221;, 444,185 shares voting &#8220;against&#8221; and 35,237 shares abstaining.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Broker non-votes received with respect to this proposal were 2,988,959.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">(6)&#160; Proposal to approve one or more adjournments of the Broadway special meeting to solicit additional proxies if, in the judgement of the Broadway board of
      directors, sufficient proxies have not been received to constitute a quorum for the conduct of business and to approve the Merger Agreement and the other proposals that will be presented at the Special Meeting. A vote on this proposal was not taken
      at the Special Meeting because sufficient proxies were received to approve all of the proposals to be presented at the Special Meeting.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The proxy votes received with respect to this proposal&#160; were 13,944,212 shares voting &#8220;for&#8221;, 173,283 shares voting &#8220;against&#8221; and 81,856 shares abstaining.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">No broker non-votes were received with respect to this proposal.</div>
    <div><br>
    </div>
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    <div style="text-align: center; text-indent: -54pt; margin-left: 54pt; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="text-align: justify;">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.</div>
    <div><br>
    </div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="3" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">BROADWAY FINANCIAL CORPORATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="3" style="vertical-align: top;">
            <div style="text-align: center;">(Registrant)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
            <div>Date: March 19, 2021</div>
          </td>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
            <div>By</div>
          </td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: center;">/s/ Brenda J. Battey</div>
          </td>
          <td colspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div style="text-align: center;">Brenda J. Battey</div>
          </td>
          <td colspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 44%; vertical-align: top;">
            <div style="text-align: center;">Chief Financial Officer</div>
          </td>
          <td colspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
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