Friedman Industries Inc.

09/20/2024 | Press release | Distributed by Public on 09/20/2024 09:03

Proxy Results Form 8 K

Item 5.07 Submission of Matters to a Vote of Security Holders.
On September 18, 2024, Friedman Industries, Incorporated (the "Company") held its Annual Meeting of Shareholders. At the meeting, the shareholders voted on the election of seven directors of the Company to hold office until the next Annual Meeting of Shareholders or until their respective successors are duly elected and qualified. The seven nominees of the Board of Directors of the Company were elected at the meeting. The number of shares voted for and withheld with respect to each of the nominees were as follows:
Nominee
Shares Voted For
Shares Withheld
Michael J. Taylor
4,010,397
146,098
Durga D. Agrawal
3,951,525
204,970
Max Reichenthal
3,850,226
306,269
Sandy Scott
3,862,322
294,173
Tim Stevenson
3,887,955
268,540
Sharon Taylor
3,909,097
247,398
Joe L. Williams
3,778,837
377,658
The shareholders also voted on the following non-binding, advisory resolution regarding the compensation of the Company's executive officers: "Resolved, that the shareholders approve the compensation of the Company's Named Executive Officers as disclosed in the Company's 2024 proxy statement pursuant to the disclosure rules of the U.S. Securities and Exchange Commission (which disclosure includes the Summary Compensation Table and related discussion)." The number of the shares that were voted for, voted against or abstained from voting on the approval of the non-binding, advisory resolution regarding the compensation of the Company's executive officers are as follows:
Shares
For
3,932,832
Against
200,780
Abstain
22,883
The shareholders also voted to ratify the selection of Moss Adams LLP as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2025. The number of the shares that were voted for, voted against or abstained from voting on the ratification of the selection of Moss Adams LLP as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2025 are as follows:
Shares
For
5,383,273
Against
37,270
Abstain
5,807
The shareholders also voted on an amendment to the Company's Articles of Incorporation to allow shareholders the ability to amend the Company's Bylaws. The amendment to the Company's Articles of Incorporation was not approved because the affirmative votes received were less than two-thirds of the Company's outstanding shares entitled to vote at the meeting.
The number of the shares of Common Stock represented at the meeting that were voted for, voted against, or abstained from voting on the amendment to the Company's Articles of Incorporation to allow shareholders the ability to amend the Company's Bylaws are set forth below:
Shares
For
3,953,549
Against
178,283
Abstain
24,663