Solitron Devices Reports Shareholder Vote Submission
Ticker: SODI · Form: 8-K · Filed: Jan 29, 2024 · CIK: 91668
| Field | Detail |
|---|---|
| Company | Solitron Devices Inc (SODI) |
| Form Type | 8-K |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: shareholder-vote, corporate-governance, 8-K
TL;DR
**Solitron Devices just held a shareholder vote, stay tuned for results that could impact the stock!**
AI Summary
Solitron Devices, Inc. filed an 8-K on January 29, 2024, to report that it submitted matters to a vote of security holders on January 25, 2024. This filing, under Item 5.07, indicates that the company held a shareholder vote, the results of which will be disclosed in a subsequent filing. For investors, this matters because shareholder votes often involve key decisions like electing directors, approving executive compensation, or authorizing new share issuances, all of which can impact the company's governance and future stock performance.
Why It Matters
Shareholder votes are crucial for corporate governance, and the outcomes can directly influence the company's strategic direction and financial health, impacting stock value.
Risk Assessment
Risk Level: low — This filing is purely procedural, reporting the submission of matters to a vote, not the results, so it carries minimal immediate risk.
Analyst Insight
A smart investor would monitor Solitron Devices' subsequent filings for the results of this shareholder vote, as the outcomes could signal future strategic directions or changes in corporate governance.
Key Players & Entities
- Solitron Devices, Inc. (company) — registrant
- January 25, 2024 (date) — date of earliest event reported
- January 29, 2024 (date) — filing date
- 001-04978 (other) — Commission File Number
Forward-Looking Statements
- Solitron Devices will file another 8-K disclosing the results of the shareholder vote. (Solitron Devices, Inc.) — high confidence, target: Q1 2024
FAQ
What is the purpose of this 8-K filing by Solitron Devices, Inc.?
This 8-K filing, dated January 29, 2024, is to report the submission of matters to a vote of security holders, with the earliest event reported being January 25, 2024, as per Item 5.07.
When did the event reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on January 25, 2024, which is the date matters were submitted to a vote of security holders.
Under which item of Form 8-K is this information being filed?
This information is being filed under Item 5.07, titled 'Submission of Matters to a Vote of Security Holders'.
What is Solitron Devices, Inc.'s Commission File Number?
Solitron Devices, Inc.'s Commission File Number, as stated in the filing, is 001-04978.
What is the next expected step following this filing regarding the shareholder vote?
The next expected step is a subsequent filing (likely another 8-K) that will disclose the actual results of the matters submitted to a vote of security holders, as this filing only reports the submission, not the outcome.
Filing Stats: 668 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-01-29 06:02:18
Filing Documents
- sodi_8k.htm (8-K) — 38KB
- 0001654954-24-000952.txt ( ) — 146KB
- sodi-20240125.xsd (EX-101.SCH) — 6KB
- sodi-20240125_lab.xml (EX-101.LAB) — 12KB
- sodi-20240125_cal.xml (EX-101.CAL) — 1KB
- sodi-20240125_pre.xml (EX-101.PRE) — 8KB
- sodi-20240125_def.xml (EX-101.DEF) — 2KB
- sodi_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. On January 25, 2024, the Annual Meeting of Stockholders (the "Annual Meeting") of Solitron Devices, Inc. (the "Company") was held. At the Annual Meeting, the Company's stockholders voted on (i) the election of two directors as Class I directors to serve for a term expiring at the 2026 Annual Meeting of Stockholders (Proposal 1); (ii) ratification of the appointment of Whitley Penn LLP as the Company's independent certified public accountants for the fiscal year ending February 29, 2024 (Proposal 2); (iii) approval of a non-binding advisory vote on the compensation of the named executive officers of the Company ("Say on Pay") (Proposal 3) and (iv) the approval to transact such other and further business as may properly come before the meeting or any adjournments or postponements of the meeting (Proposal 4). The proposals are described in more detail in the Company's definitive proxy statement filed with the Securities and Exchange Commission on December 8, 2023. Set forth below are the voting results on each matter submitted to the stockholders at the Annual Meeting. Proposal 1 . The Company's stockholders voted to elect Mr. John F. Chiste and Mr. Dwight P. "Ike" Aubrey as the Company's Class I directors. The Class I directors will serve for a term until the 2026 Annual Meeting of Stockholders: Nominee Votes For Votes Against Abstentions Broker Non-Votes John F. Chiste 1,152,121 7,213 81,931 439,244 Dwight P. Aubrey 1,151,771 7,263 82,231 439,244 Proposal 2 . The Company's stockholders voted to ratify the appointment of Whitley Penn LLP as the Company's independent registered public accountants for the fiscal year ending February 29, 2024. Votes For Votes Against Abstentions 1,674,196 3,324 2,989 Proposal 3 . The Company's stockholders voted to approve a non-binding advisory vote on the compensation of the named executive officers of the Company ("Say on Pay"). Votes For Votes
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. Solitron Devices, Inc. Date: January 29, 2024 By: /s/ Tim Eriksen Name: Tim Eriksen Title: Chief Executive Officer and Interim Chief Financial Officer 3