Item 5.07. Submission of Matters to a Vote of Security Holders
The 2025 Annual Meeting of Stockholders of the Company (the "2025 Annual Meeting") was held by remote communication in the form of both a dial-in conference call and an audio webcast rather than an in-person event on Thursday, June 12, 2025, at 9:30 a.m. Eastern Time, for the following purposes:
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1.
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To elect to one-year terms as Directors of the Company the seven nominees listed in the 2025 Proxy Statement.
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2.
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To approve a non-binding advisory resolution on the Company's executive compensation program.
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3.
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To act on a proposal to approve an amendment to the Company's 2017 Stock Option and Incentive Plan (the 2017 Plan), increasing the number of shares of the Company's common stock reserved for issuance under such plan from 650,000 shares to 900,000 shares.
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4.
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To ratify the Audit Committee's selection of Wipfli LLP as the Independent Registered Public Accounting Firm of the Company for the year ending December 31, 2025.
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At the 2025 Annual Meeting, there were present in person or by proxy 7,048,097 shares of the Company's common stock, representing more than 78% of the total outstanding eligible votes. The final voting results for each proposal are as follows:
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1.
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To elect to one-year terms as Directors of the Company the nominees listed in the Company's Proxy Statement dated April 25, 2025:
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For
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Withheld
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Broker Non-votes
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Gloria J. Basse
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3,347,912
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5,353
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3,694,832
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Michael F. Brigham
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3,349,359
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3,906
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3,694,832
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Bobbi Jo Brockmann
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3,341,604
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11,661
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3,694,832
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Bryan K. Gathagan
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3,348,431
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4,834
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3,694,832
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Steven T. Rosgen
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3,349,682
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3,583
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3,694,832
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David S. Tomsche
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3,343,173
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10,092
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3,694,832
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Paul R. Wainman
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3,346,588
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6,677
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3,694,832
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On the basis of this vote, each of the seven nominees was elected to a one-year term as a Director of the Company.
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2.
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To approve a non-binding advisory resolution on the Company's executive compensation program:
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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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3,006,841
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50,712
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295,712
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3,694,832
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42.66% of the shares voting at this meeting in person or by proxy voted in favor. On the basis of this vote, the non-binding advisory resolution on the Company's executive compensation program was not approved.
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3.
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To act on a proposal to approve an amendment to the Company's 2017 Stock Option and Incentive Plan (the 2017 Plan), increasing the number of shares of the Company's common stock reserved for issuance under such plan from 650,000 shares to 900,000 shares.
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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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2,897,020
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446,180
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10,065
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3,694,832
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41.10% of the shares voting at this meeting in person or by proxy voted in favor. On the basis of this vote, the amendment to the Company's 2017 Stock Option and Incentive Plan, increasing the number of shares of the Company's common stock reserved for issuance under such plan from 650,000 shares to 900,000 shares, was not approved.
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4.
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To ratify the Audit Committee's selection of Wipfli LLP as the Independent Registered Public Accounting Firm of the Company for the year ending December 31, 2025:
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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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6,761,178
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13,636
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273,283
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0
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95.93% of the shares voting at this meeting in person or by proxy voted in favor. On the basis of this vote, the Audit Committee's selection of Wipfli LLP as the Independent Registered Public Accounting Firm of the Company for the year ending December 31, 2025 was ratified.
