Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 15, 2020, the Company held its 2020 Annual Meeting of Stockholders (the "Annual Meeting"). As of March 23, 2020, the record date for the Annual Meeting, there were 53,227,700 shares of common stock issued and outstanding and entitled to vote on the proposals presented at the Annual Meeting, of which 41,131,579 shares, or 77.27%, were present in person or represented by proxy, which constituted a quorum. The holders of shares of our common stock are entitled to one vote for each share held. Set forth below are the final voting results for each of the proposals submitted to a vote of the Company's stockholders at the Annual Meeting.
Proposal 1. Election of Directors - The Company's stockholders elected Walter V. Klemp, Robert George, Michael Cannon and John Climaco to serve until the 2021 Annual Meeting of Stockholders of the Company, or until such person's successor is qualified and elected.
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Director Name
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Votes For
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Votes Withheld
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Broker Non-Votes
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Walter V. Klemp
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16,390,215
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2,036,729
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22,704,635
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Robert George
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15,472,188
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2,954,756
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22,704,635
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Michael Cannon
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15,941,344
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2,485,600
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22,704,635
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John Climaco
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15,973,315
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2,453,629
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22,704,635
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Proposal 2. Ratify Grant Thornton LLP as Independent Registered Public Accountant - The Company's stockholders ratified the appointment of Grant Thornton, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2020, by the following vote:
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Votes For
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Votes Against
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Abstain
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39,454,292
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1,180,065
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497,222
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Proposal 3. To Effect a Reverse Stock Split of the Outstanding Shares - - The Company’s stockholders authorized the Board of Directors, in its sole discretion, prior to the one-year anniversary of the Annual Meeting, to file an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split at one of the following reverse stock split ratios, 1-for-2, 1-for-3, 1-for-4, 1-for-5, 1-for-6, 1-for-7, or 1-for-8. As of the date hereof, the Company's Board of Directors has not made any determination on the filing of such amendment. The voting on this proposal is set forth below:
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Votes For
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Votes Against
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Abstain
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26,983,694
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13,582,402
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565,483
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Proposal 4. To Increase the Number of Common Stock Authorized for Issuance under the 2015 Plan - The Company’s stockholders approved an increase in the number of shares of common stock authorized for issuance under the 2015 Plan by 6,000,000 shares.
The voting on this proposal is set forth below:
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Votes For
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Votes Against
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Abstain
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Broker Non-Votes
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14,496,928
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3,791,840
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138,176
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22,704,635
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Proposal 5. To authorize an Adjournment of the Annual Meeting - To authorize an adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Annual Meeting or adjournment or postponement thereof to approve of the foregoing proposals.
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Votes For
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Votes Against
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Abstain
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31,734,118
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8,579,342
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818,119
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Adjournment of the Annual Meeting was necessary due to public health concerns.