Current Report Filing (8-k)
September 16 2020 - 5:20PM
Edgar (US Regulatory)
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):
September 14, 2020
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Town Sports International Holdings, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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001-36803
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20-0640002
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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1001 US North Highway 1, Suite 201, Jupiter, Florida
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33477
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(Address of Principal Executive Offices)
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(Zip Code)
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399 Executive Boulevard, Elmsford, New York
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10523
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(Mailing address)
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(Zip Code)
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Registrant’s Telephone Number, Including
Area Code: (914) 347-4009
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(Former Name or Former Address, If Changed Since Last Report)
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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 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which Registered
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Common stock, $0.001 par value per share
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CLUB
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Nasdaq Global Market
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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. ☐
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
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On September 14, 2020, Town Sports International
Holdings, Inc. (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”) at which
the Company’s stockholders approved the Amendment No. 4 to the Company’s 2006 Stock Incentive Plan (as Amended and
Restated Effective April 2, 2015) (the “Plan Amendment”) and authorized and reserved 3,000,000 shares of the Company’s
common stock to be issued thereunder. The Board of Directors of the Company previously approved the Plan Amendment on July 15,
2020, subject to stockholder approval.
The
material features of the Plan Amendment are described in the Company’s Definitive Proxy Statement on Schedule 14A for the
Annual Meeting filed on August 6, 2020 (the “Proxy Statement”) in the Section entitled “Proposal Four —
Approval of Amendment No. 4 to the Company’s 2006 Stock Incentive Plan (as Amended and Restated Effective April 2, 2015),”
which description is filed herewith as Exhibit 99.1 and incorporated herein by reference. The above description of the Plan
Amendment is qualified in its entirety by reference to the Plan Amendment filed herewith as Exhibit 10.1.
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Item 5.07
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Submission of Matters to a Vote of Security Holders.
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On September 14, 2020,
the Company held its Annual Meeting. The following matters were submitted to a vote of the Company’s stockholders at the
Annual Meeting: (i) the election of four directors to serve until the Company’s 2021 Annual Meeting of Stockholders and until
their successors are duly elected and qualify; (ii) the ratification of the appointment of BDO USA, LLP as the Company’s independent
registered public accounting firm for the fiscal year ending December 31, 2020; (iii) a non-binding advisory vote to approve the
compensation paid to the Company’s named executive officers; and (iv) the approval of the Plan Amendment to increase the
number of shares of the Company’s common stock authorized and reserved for issuance thereunder by 3,000,000 shares. The number
of shares of the Company’s common stock outstanding and eligible to vote as of July 20, 2020, the record date for the Annual
Meeting, was 29,715,140.
Each of the matters
submitted to a vote of the Company’s stockholders at the Annual Meeting was approved by the requisite vote of the Company’s
stockholders. Set forth below is the number of votes cast for, against or withheld, as well as the number of abstentions and broker
non-votes, as to each such matter, including a separate tabulation with respect to each nominee for director, as applicable:
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Proposal 1
Election of Directors
Director Nominees
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For
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Withheld
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Broker
Non-Votes
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Martin J. Annese
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10,456,140
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700,427
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6,897,964
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Jeffery Crivello
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10,695,361
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461,206
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6,897,964
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Justin Lundberg
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10,560,437
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596,130
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6,897,964
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Patrick Walsh
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10,367,067
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789,500
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6,897,964
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Proposal 2
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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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Ratification of the appointment of BDO USA, LLP
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17,487,389
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444,987
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122,155
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—
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Proposal 3
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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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Advisory vote on compensation of named executive officers
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10,281,787
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821,208
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53,572
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6,897,964
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Proposal 4
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For
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Against
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Abstain
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Approval of the Plan Amendment
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8,970,369
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2,112,230
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73,968
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6,897,964
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Item 9.01
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Financial Statements and Exhibits.
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SIGNATURE
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 thereunto duly authorized.
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TOWN SPORTS INTERNATIONAL HOLDINGS, INC.
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(Registrant)
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Date: September 16, 2020
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By:
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/s/ Patrick Walsh
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Patrick Walsh
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Chairman and Chief Executive Officer
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