Item 5.07
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Submission of Matters to a Vote of Security Holders.
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On January 20, 2021, Gores Holdings IV, Inc. (the “Company”), a blank check company incorporated as a Delaware corporation, held a special meeting of the Company’s stockholders (the “Special Meeting”) in lieu of the 2021 annual meeting of the Company’s stockholders, at which holders of 32,446,172 shares of common stock (consisting of 21,821,172 shares of Class A common stock, par value $0.0001 per share, of the Company (the “Class A Stock”) and 10,625,000 shares of Class F common stock, par value $0.0001 per share, of the Company (the “Class F Stock”)) were present in person or by proxy, representing 61.08% of the voting power of the shares of the Company’s common stock as of December 15, 2020, the record date for the Special Meeting, and constituting a quorum for the transaction of business. Each of the proposals listed below is described in more detail in the definitive proxy statement filed December 16, 2020 and as amended on January 13, 2021, and incorporated herein by reference. A summary of the voting results at the Special Meeting for each of the proposals is set forth below:
1. Business Combination Proposal. The stockholders approved that certain Business Combination Agreement, dated as of September 22, 2020 (as it may be amended from time to time, the “Business Combination Agreement”), by and among the Company, SFS Holding Corp., a Michigan corporation (“SFS Corp.”), United Wholesale Mortgage, LLC (f/k/a United Shore Financial Services, LLC), a Michigan limited liability company (“UWM”), and UWM Holdings, LLC, a Delaware limited liability company (“UWM LLC”), and the transactions contemplated thereby (collectively, the “Business Combination”). The voting results for this proposal were as follows:
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For
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Against
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Abstain
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Broker Non-Votes
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32,368,086
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52,211
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25,875
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0
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2. Nasdaq Proposal. The stockholders approved, for purposes of complying with applicable Nasdaq listing rules, the issuance of more than 20% of the Class A Stock and Class F Stock of the Company (prior to the effectiveness of the Proposed Charter, the Class A Stock together with the Class F Stock, and, upon the effectiveness of the Proposed Charter, the Class A Stock, the Class B common stock, par value $0.0001 per share, of the Company (the “Class B Stock”), the Class C common stock, par value $0.0001 per share, of the Company (the “Class C Stock”) and the Class D common stock, par value $0.0001 per share, of the Company (the “Class D Stock”), together, the “Common Stock”) and voting power in connection with the Business Combination and the Private Placement. The voting results for this proposal were as follows:
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For
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Against
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Abstain
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Broker Non-Votes
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32,349,589
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60,004
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36,579
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0
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3. Charter Approval Proposal. The stockholders adopted the proposed Second Amended and Restated Certificate of Incorporation of the Company (the “Proposed Charter”). The voting results for this proposal were as follows:
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For
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Against
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Abstain
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Broker Non-Votes
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32,358,724
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52,704
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34,744
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0
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4. Governance Proposal. The stockholders approved, on a non-binding advisory basis, a separate proposal with respect to certain governance provisions in the Proposed Charter in accordance with United States Securities and Exchange Commission requirements. The voting results for each separate proposal were as follows:
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a.
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Proposal 4A: Change in Authorized Shares — to amend the Proposed Charter to (i) increase the Post-Combination Company’s total number of authorized shares of capital stock from 221,000,000 shares to 9,200,000,000 shares of capital stock, (ii) increase the Post-Combination Company’s authorized Class A Stock from 200,000,000 shares to 4,000,000,000 shares of Class A Stock, (iii) create the Post-Combination Company’s Class B Stock, consisting of 1,700,000,000 authorized shares of Class B Stock, (iv) create the Post-Combination Company’s Class C Stock, consisting of 1,700,000,000 authorized shares of Class C Stock, (v) create the Post-Combination Company’s Class D Stock, consisting of 1,700,000,000 authorized shares of Class D Stock, and (vi) increase the Post-Combination Company’s authorized shares of Preferred Stock from 1,000,000 to 100,000,000 shares of Preferred Stock:
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For
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Against
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Abstain
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Broker Non-Votes
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23,675,350
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8,648,414
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122,408
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0
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