GlobalTech Corp Announces Board Changes & Executive Compensation Updates
Ticker: GLTK · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1938338
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
GlobalTech's board is shuffling, exec pay is changing, and they're voting on stuff. Big governance news.
AI Summary
GlobalTech Corporation announced on December 5, 2024, a series of significant corporate actions. These include the departure of a director, the election of new directors, the appointment of new officers, and updates to executive compensation arrangements. Additionally, the company is submitting matters to a vote of its security holders and filing financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance, impacting investor confidence.
Risk Assessment
Risk Level: medium — Board and executive changes, along with votes on company matters, can introduce uncertainty and signal potential strategic shifts.
Key Players & Entities
- GlobalTech Corporation (company) — Registrant
- Nevada (jurisdiction) — State of incorporation
- December 5, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from GlobalTech Corporation's board or officer positions?
The filing indicates the departure of a director, but does not name the individual in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 5, 2024.
What are the main categories of information being reported in this 8-K?
The filing covers the departure of directors/officers, election of directors, appointment of officers, compensatory arrangements, submission of matters to a vote of security holders, and financial statements/exhibits.
In which state is GlobalTech Corporation incorporated?
GlobalTech Corporation is incorporated in Nevada.
What is the principal executive office address for GlobalTech Corporation?
The principal executive office is located at 3550 Barron Way, Suite 13a, Reno, NV 89511.
Filing Stats: 1,836 words · 7 min read · ~6 pages · Grade level 13.1 · Accepted 2024-12-11 16:30:18
Key Financial Figures
- $0.0001 — authorized shares of our common stock, $0.0001 par value per share, that we may issue
Filing Documents
- global_8k.htm (8-K) — 77KB
- global_ex101.htm (EX-10.1) — 204KB
- 0001477932-24-008018.txt ( ) — 441KB
- global-20241205.xsd (EX-101.SCH) — 6KB
- global-20241205_lab.xml (EX-101.LAB) — 13KB
- global-20241205_cal.xml (EX-101.CAL) — 1KB
- global-20241205_pre.xml (EX-101.PRE) — 8KB
- global-20241205_def.xml (EX-101.DEF) — 2KB
- global_8k_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. At the Annual Meeting, stockholders representing 134,917,269 shares of the Company's common stock entitled to vote at the Annual Meeting were present in person or by proxy representing 96.5% of the voting shares issued and outstanding on the record date of October 8, 2024, and constituting a quorum to conduct business at the Annual Meeting. The following proposals were voted on at the Annual Meeting (as described in greater detail in the Proxy Statement), with the results of such voting as set forth below. Capitalized terms have the meanings given to such terms in the Proxy Statement and this Form 8-K should be read in connection with the Proxy Statement. 2 Proposal 1 The individuals listed below were elected at the Annual Meeting to serve as directors of the Company until the next annual meeting of stockholders and until their successors are duly elected and qualified: For Withhold Broker Non-Votes Dana Green 134,917,269 — — Charles J. Bartolotta 134,917,269 — — James A. Gibbons 134,917,269 — — Mehmet Ulema 134,917,269 — — Mehdi Mohamed Jawad Abdullah Al Abduwani 134,917,269 — — Proposal 2 A management proposal to ratify the appointment of Saeed Kamran & Co., as the Company's independent auditors for the fiscal year ending December 31, 2024, was approved. For Against Abstain Broker Non-Votes 134,917,269 — — — Proposal 3 The GlobalTech Corporation 2024 Equity Compensation Plan, was approved and adopted. For Against Abstain Broker Non-Votes 134,917,269 — — — Proposal 4 A prior amendment to our Articles of Incorporation to increase the number of authorized shares of our common stock, $0.0001 par value per share, that we may issue from 10,000,000 to 500,000,000 (the " 1st Ratification Proposal "), was approved, ratified and validated. For Against Abstain Broker Non-Votes 134,917,252 — 17 — Proposal 5 A p
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description of Exhibit 10.1* GlobalTech Group, Inc. 2024 Equity Incentive Plan 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) * Filed herewith. 5
SIGNATURES
SIGNATURES 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 hereunto duly authorized. GlobalTech Corporation /s/ Dana Green Dana Green Chief Executive Officer Date: December 11, 2024 6