Mayville Engineering Stockholders Elect Directors, Approve Say-on-Pay
Ticker: MEC · Form: 8-K · Filed: Apr 17, 2024 · CIK: 1766368
| Field | Detail |
|---|---|
| Company | Mayville Engineering Company, INC. (MEC) |
| Form Type | 8-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, annual-meeting, auditor-ratification
TL;DR
MEC shareholders re-elected the board and approved executive pay; auditor confirmed.
AI Summary
On April 16, 2024, Mayville Engineering Company, Inc. (MEC) announced the results of its annual meeting of stockholders. All director nominees were elected, and the company's executive compensation plan was approved on an advisory basis. Additionally, the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified.
Why It Matters
The outcome of the annual meeting confirms shareholder confidence in the current board and executive compensation structure, while also ratifying the choice of auditor, which is crucial for financial transparency.
Risk Assessment
Risk Level: low — This filing is routine and reports on standard corporate governance matters like director elections and auditor ratification, with no immediate financial risks indicated.
Key Players & Entities
- Mayville Engineering Company, Inc. (company) — Registrant
- Baker Tilly US, LLP (company) — Independent registered public accounting firm
- April 16, 2024 (date) — Date of earliest event reported
- December 31, 2024 (date) — Fiscal year end for auditor appointment
FAQ
Were all director nominees elected by Mayville Engineering Company, Inc. stockholders?
Yes, all director nominees were elected at the annual meeting of stockholders held on April 16, 2024.
Was the company's executive compensation plan approved?
Yes, the company's executive compensation plan, commonly known as 'say-on-pay', was approved on an advisory basis by the stockholders.
Who was ratified as the independent registered public accounting firm?
Baker Tilly US, LLP was ratified as the independent registered public accounting firm for Mayville Engineering Company, Inc. for the fiscal year ending December 31, 2024.
What is the fiscal year end for which Baker Tilly US, LLP was appointed?
Baker Tilly US, LLP was appointed for the fiscal year ending December 31, 2024.
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing reports the results of Mayville Engineering Company, Inc.'s annual meeting of stockholders, including director elections, advisory approval of executive compensation, and ratification of the independent auditor.
Filing Stats: 716 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2024-04-17 16:00:50
Filing Documents
- tmb-20240416x8k.htm (8-K) — 66KB
- 0001558370-24-005254.txt ( ) — 186KB
- tmb-20240416.xsd (EX-101.SCH) — 3KB
- tmb-20240416_lab.xml (EX-101.LAB) — 16KB
- tmb-20240416_pre.xml (EX-101.PRE) — 10KB
- tmb-20240416x8k_htm.xml (XML) — 5KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. On April 16, 2024, Mayville Engineering Company, Inc. (the "Company") held its 2024 annual meeting of shareholders (the "Annual Meeting"). At the Annual Meeting, the Company's shareholders voted on the following proposals: The election of three directors, Allen J. Carlson, Timothy L. Christen and Jennifer J. Kent, to the Company's Board of Directors for a three-year term to expire at the Company's 2027 annual meeting of shareholders; and The ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for 2024. As of the February 16, 2024 record date for the determination of the shareholders entitled to notice of, and to vote at, the Annual Meeting, 20,364,907 shares of the Company's common stock were outstanding and eligible to vote. Approximately 93.36% of all shares (and votes) were represented at the Annual Meeting in person or by proxy. The following are the final votes on the matters presented for shareholder consideration at the Annual Meeting: Election of Directors The shareholders elected Allen J. Carlson, Timothy L. Christen and Jennifer J. Kent as directors for a three-year term to expire at the Company's 2027 annual meeting of shareholders. The results of the vote were as follows: For Withheld Broker Non-Votes Name Votes Percentage (1) Votes Percentage Votes Percentage (2) Allen J. Carlson 9,724,276 58.28 % 6,961,653 41.72 % 2,327,517 N/A Timothy L. Christen 10,113,699 60.61 % 6,572,230 39.39 % 2,327,517 N/A Jennifer J. Kent 15,552,583 93.21 % 1,133,346 6.79 % 2,327,517 N/A Ratify Appointment of Deloitte & Touche LLP for 2024 The shareholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for 2024. The results of the vote were as follows: For Against Abstain Broker Non-Votes Votes Percentag
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. MAYVILLE ENGINEERING COMPANY, INC. Date: April 17, 2024 By: /s/ Todd M. Butz Todd M. Butz Chief Financial Officer