Item 5.07 |
Submission of Matters to a Vote of Security Holders.
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On April 25, 2022, Twitter, Inc. (“Twitter”) announced its
entry into an Agreement and Plan of Merger, dated as of
April 25, 2022 (as it may be amended from time to time, the
“Merger Agreement”), by and among X Holdings I, Inc. (“Parent”), X
Holdings II, Inc., a wholly owned subsidiary of Parent
(“Acquisition Sub”), and, solely for the purpose of certain
provisions of the Merger Agreement, Elon R. Musk. The Merger
Agreement provides for Acquisition Sub to be merged with and into
Twitter, with Twitter surviving as a wholly owned subsidiary of
Parent (the “Merger”).
In connection with the Merger, Twitter held a Special Meeting of
Stockholders on September 13, 2022, at 10:00 a.m., Pacific
time (the “Special Meeting”).
There were 765,246,152 shares of common stock, par value $0.000005
per share, of Twitter (the “Shares”) issued and outstanding as of
July 22, 2022, the record date for the Special Meeting (the
“Record Date”). At the Special Meeting, the holders of 459,644,039
Shares were present in person or represented by proxy, representing
approximately 60.1% of the voting power of the Shares as of the
Record Date, which constituted a quorum. Holders of approximately
59.2% of the outstanding Shares voted to adopt the Merger
Agreement.
The following are the voting results of the proposals considered
and voted on at the Special Meeting, each of which is described in
detail in Twitter’s definitive proxy statement, dated July 26,
2022 (the “Proxy Statement”).
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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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Proposal 1: To adopt the Merger Agreement.
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453,106,848 |
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4,149,957 |
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2,387,234 |
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0 |
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Proposal 1 was approved.
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Proposal 2: To approve, on a non-binding, advisory basis, the
compensation that will or may become payable by Twitter to its
named executive officers in connection with the merger. |
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427,753,082 |
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22,482,821 |
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9,408,136 |
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0 |
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Proposal 2 was approved.
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In light of the approval of Proposal 1, Proposal 3 described in the
Proxy Statement (relating to the adjournment of the Special Meeting
if necessary or appropriate) was rendered moot and was not
presented at the Special Meeting.
On September 13, 2022, Twitter issued a press release
announcing the preliminary results of the Special Meeting. A copy
of this press release is attached as Exhibit 99.1 and is
incorporated herein by reference.
Item 9.01. |
Financial Statements and Exhibits.
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(d) Exhibits