Envela Corp. Announces 2024 Annual Meeting of Stockholders on June 28

TL;DR

<b>Envela Corporation will host its 2024 Annual Meeting of Stockholders virtually on June 28, 2024, allowing real-time participation and voting online.</b>

AI Summary

Envela Corp (ELA) filed a Proxy Statement (DEF 14A) with the SEC on April 30, 2024. Envela Corporation will hold its 2024 Annual Meeting of Stockholders virtually on June 28, 2024, at 2:00 p.m. Central Daylight Time. Stockholders can register for the virtual meeting at https://us06web.zoom.us/meeting/register/tZMvcuyhrDgpG9z6-MktMwnSZ_t71AgP_oUE. Registered participants will receive a link to join the online meeting. Attendees will be able to listen, ask questions, and vote in real-time during the virtual meeting. The meeting will not be held physically; attendance is exclusively online.

Why It Matters

For investors and stakeholders tracking Envela Corp, this filing contains several important signals. The virtual format allows for broader accessibility and real-time engagement from stockholders regardless of their physical location. This meeting is a key opportunity for shareholders to directly interact with management and the board, and to exercise their voting rights on corporate matters.

Risk Assessment

Risk Level: low — Envela Corp shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational risks indicated.

Analyst Insight

Stockholders should review the proxy materials and register for the virtual meeting to participate and vote on important company matters.

Key Numbers

• 2024 — Annual Meeting Year (2024 Annual Meeting of Stockholders)
• June 28 — Meeting Date (Annual Meeting to be held on Friday, June 28, 2024)
• 2:00 p.m. Central Daylight Time — Meeting Time (Annual Meeting at 2:00 p.m. Central Daylight Time)

Key Players & Entities

• Envela Corp (company) — Name of Registrant
• June 28, 2024 (date) — Date of Annual Meeting
• 2:00 p.m. Central Daylight Time (time) — Time of Annual Meeting
• https://us06web.zoom.us/meeting/register/tZMvcuyhrDgpG9z6-MktMwnSZ_t71AgP_oUE (url) — Registration link for the virtual meeting
• DGSE COMPANIES INC (company) — Former company name
• DALLAS GOLD & SILVER EXCHANGE INC /NV/ (company) — Former company name
• AMERICAN PACIFIC MINT INC (company) — Former company name

FAQ

Industry Context

Envela Corporation operates in the retail jewelry stores sector, focusing on precious metals and gemstones.

Regulatory Implications

This filing is a standard DEF 14A proxy statement, adhering to SEC regulations for shareholder meetings.

What Investors Should Do

1. Register for the virtual annual meeting by the specified deadline.
2. Review the proxy statement for details on proposals and voting procedures.
3. Vote on matters presented at the annual meeting, either online or by proxy.

Key Dates

• 2024-06-28: Annual Meeting of Stockholders — Key date for stockholders to attend and vote.

Year-Over-Year Comparison

This is the initial filing for the 2024 proxy statement, detailing the upcoming annual meeting.

Key Financial Figures

• $0.01 — 7 shares of our common stock, par value $0.01 per share (our "Common Stock"), issued

Filing Documents

• ela_def14a.htm (DEF 14A) — 305KB
• ela_def14aimg3.jpg (GRAPHIC) — 5KB
• ela_def14aimg4.jpg (GRAPHIC) — 184KB
• ela_def14aimg5.jpg (GRAPHIC) — 160KB
• 0001654954-24-005299.txt (&nbsp;) — 786KB

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 8 BOARD OF DIRECTORS AND COMMITTEES 9 EXECUTIVE OFFICERS 13

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 14 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 18 PROPOSAL 2: RATIFICATION OF THE APPOINTMENT OF WHITLEY PENN AS INDEPENDENT AUDITORS OF ENVELA FOR THE FISCAL YEAR ENDING DECEMBER 31, 2024 19 PROPOSAL 3: ADJOURNMENT OF THE ANNUAL MEETING TO SOLICIT ADDITIONAL PROXIES IN FAVOR OF PROPOSALS ONE THROUGH TWO 21 SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE PERSONS MAKING THE SOLICITATION 22 OTHER MATTERS 22 1 Table of Contents ENVELA CORPORATION 1901 GATEWAY DR., STE 100 IRVING, TEXAS 75038 PROXY STATEMENT FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD JUNE 28, 2024 To Our Stockholders: This proxy statement ("Proxy Statement") is furnished in connection with the solicitation of proxies by the Board of Directors (our "Board of Directors" or "Board") of Envela Corporation, a Nevada corporation (the "Company," "we," "us," "our," and "Envela"), to be used at our Annual Meeting of Stockholders to be held virtually, on June 28, 2024 at 2:00 p.m. (Central Standard Time), or at any adjournment or adjournments thereof. Our stockholders of record as of the close of business on May 24, 2024 (the "Record Date") are entitled to vote at our annual meeting. Important Notice of Availability of Proxy Materials for the Annual Meeting of Stockholders to be held on June 28, 2024. Our proxy materials, including our Proxy Statement for the 2024 Annual Meeting, 2023 Annual Report on Form 10-K for the year ended December 31, 2023 and proxy card, are being sent to security holders on May 30, 2024 and are available on the internet at www.Envela.com . VOTING PROCEDURES AND REVOCABILITY OF PROXIES The accompanying proxy card is designed to permit each of our stockholders as of the Record Date to vote on each of the proposals properly brought before the annual meeting. As of the Record Date, there will be 26,276,427 shares of our common stock, par value $0.01 per share (our "Common Stock"), issued and outstanding an

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL The following table sets forth the beneficial ownership each stockholder known by us to own beneficially more than five (5) percent of our outstanding shares of Common Stock as of April 30, 2024. Common Stock beneficially owned and percentage ownership as of April 30, 2024 was based on 26,276,427 shares outstanding. Title of class Name and Address of beneficial owner Amount and nature of beneficial Percent of class Sole Voting Power Shared Voting Power Sole Investment Power Shared Investment Power Common John R. Loftus (1) 19,180,187 73.0 % (1) (1) (1) (1) Stock 1901 Gateway Dr. Irving, TX 75038 (1) Based solely on information disclosed in the Schedule 13D/A, jointly filed with the SEC on May 24, 2019 by Eduro Holdings, LLC ("Eduro"), N10TR, LLC ("N10TR") and John R. Loftus. Eduro and Mr. Loftus reported shared voting and dispositive power with respect to 6,365,460 shares. N10TR and Mr. Loftus reported shared voting and dispositive power with respect to 12,814,727 shares. 8 Table of Contents The following table sets forth information with respect to beneficial ownership of our Common Stock by each of our executive officers, by each of our directors and nominees, and by all executive officers and directors as a group as of April 30, 2024. Except as otherwise noted, the address of each of the following beneficial owners is c/o Envela Corporation, 1901 Gateway Dr., Ste 100, Irving, TX 75038. Amount and nature of Sole Shared Name and Address of beneficial Percent of Sole voting Shared voting investment investment Title of Class beneificial owner class power power power power Common Stock John R. Loftus 19,180,187 73.00 % - 19,180,187 - 19,180,187 Common Stock John G. DeLuca (1) 1,121 * 1,121 - - - Common Stock Alexandra C. Griffin 2,300 * 2,300 - - - Common Stock Jim R. Ruth 12

View Full Filing

View this DEF 14A filing on SEC EDGAR