Parks! America Issues Proxy Statement Update

TL;DR

Parks! America filed proxy docs, nothing major yet.

AI Summary

Parks! America, Inc. filed a DEFA14A on May 24, 2024, indicating they issued a press release on May 23, 2024. The filing is related to proxy materials and does not appear to involve a specific transaction or financial event with a stated dollar amount in the provided text.

Why It Matters

This filing signals ongoing corporate communications and governance activities for Parks! America, Inc., which is important for shareholders to stay informed about company matters.

Risk Assessment

Risk Level: low — The filing is a routine proxy statement update and does not contain information suggesting immediate or significant risk.

Key Players & Entities

• PARKS AMERICA, INC (company) — Registrant
• 0001493152-24-021220 (filing_id) — Accession Number
• 20240524 (date) — Filing Date
• May 23, 2024 (date) — Press Release Date

FAQ

Filing Documents

• formdefa14a.htm (DEFA14A) — 31KB
• defa14a_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-021220.txt ( ) — 39KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy (Amendment No . ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under §240.14a-12 PARKS! AMERICA, INC. (Name of Registrant as Specified in its Charter) (Name Of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 On May 23, 2024, Parks! America, Inc. (the “Company”) issued the following press release: 2 Parks! America, Inc. Announces Glass Lewis Recommends Parks! America Shareholders Vote “FOR” Each of the Director Nominees Recommended by the Board Glass Lewis Recommends Shareholders Vote on Parks! America’s WHITE Proxy Card Glass Lewis Recommends Voting “FOR” CEO Lisa Brady Parks! America Reminds Shareholders to Vote Today on the WHITE Proxy Card for Our Highly Qualified Nominees PINE MOUNTAIN, Georgia, May 23, 2024 (GLOBE NEWSWIRE) -- Parks! America, Inc. (OTCPink: PRKA) (the “Company” or “Parks! America”) , a leading operator of regional safari parks in the U.S., announced today that Glass Lewis & Co. (“Glass Lewis”), a leading independent proxy advisory firm, has recommended that Parks! America shareholders vote “FOR” each of the Board of Directors’ nominees: Lisa Brady, Charles Kohnen, Jeffery Lococo, Rick Ruffolo, Jon M. Steele and Todd R. White; “FOR” Geoff Gannon, the Focused Compounding Fund, LP (collectively with its affiliates, “Focused Compounding”) nominee who was recommended by the Board of Directors; “AGAINST” all other Focused Compounding nominees; and “AGAINST” the Focused Compounding proposal at the upcoming Annual Meeting on June 6, 2024. Glass Lewis provided that they “do not consider there presently exists a compelling, comprehensively reasoned case for investors to support the [Focused Compounding] slate...” (permission to quote the Glass Lewis report was neither sought nor obtained). Importantly, Glass Lewis, in making its voting recommendations, provided a detailed, careful analysis, which was predicated on, among other things: The Focused Compounding slate “offers no leisure or theme parks expertise, no public company executive or director experience and comparatively limited employment history…” The Focused Compounding plan for the Company clearly appears to include an immediate transition for the sitting executive team, yet “it is unclear whether the [Focused Compounding] slate would be prepared to implement and oversee such a process.” The Board of Directors has, considering the extant optics, “made a reasonably good faith effort to find a mutually acceptable resolution.” Lisa Brady, CEO of Parks! America, commented, “We are pleased with the Glass Lewis recommendations relating to this proxy matter. We remain dedicated to executing our strategic plan to maximize value for all Parks! America shareholders, as opposed to a vague plan by dissidents with no industry or public company experience. These recommendations serve our shareholder base well. We appreciate that Glass Lewis recognizes the stark comparison.” Glass Lewis is a leading independent proxy advisory firm which, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders. Their voting analyses and recommendations are relied upon by thousands of major institutional investment firms, mutual funds and fiduciaries throughout the world. VOTE “FOR” PARKS! AMERICA’S NOMINEES ON THE WHITE PROXY CARD TODAY If you have any questions or require any assistance with voting, please contact the Company’s proxy solicitor, Saratoga Proxy Consulting, LLC, by calling (212) 257-1311 or toll free at (888) 368-0379, or by email at info@saratogaproxy.com. About Parks! America, Inc. Parks! America, Inc. (OTCPink: PRKA), through its wholly owned subsidiaries, owns and operates three regional safari parks - the Wild Animal Safari theme park in Pine Mountain, Georgia, the Wild Animal Safari theme park located in Strafford, Missouri, and the Aggieland Wild Animal Safari theme park, located near Bryan/College Station, Texas. Additional information, including our Annual Report on Form 10-K for the fiscal year ended October 1, 2023, is available on the Company’s website, http://www.animalsafari.com . Cauti

View Full Filing

View this DEFA14A filing on SEC EDGAR