Lendway, Inc. Elects New Directors, Adjusts Executive Pay
Ticker: TULP · Form: 8-K · Filed: Jul 17, 2024 · CIK: 875355
| Field | Detail |
|---|---|
| Company | Lendway, Inc. (TULP) |
| Form Type | 8-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-composition, executive-compensation, governance
TL;DR
Lendway adds two directors and updates exec pay – board shakeup incoming?
AI Summary
Lendway, Inc. announced on July 16, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. O'Donnell and David A. Johnson, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its principal executive officer and principal financial officer.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance expectations.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate potential strategic shifts or internal adjustments that may affect future performance.
Key Players & Entities
- Lendway, Inc. (company) — Registrant
- Michael J. O'Donnell (person) — Newly Elected Director
- David A. Johnson (person) — Newly Elected Director
- July 16, 2024 (date) — Date of Report
FAQ
Who were the newly elected directors to Lendway, Inc.'s Board?
Michael J. O'Donnell and David A. Johnson were elected as new directors to Lendway, Inc.'s Board of Directors.
When were the new directors elected?
The new directors were elected effective immediately as of July 16, 2024.
What other significant events were reported by Lendway, Inc. on July 16, 2024?
In addition to director elections, Lendway, Inc. also reported on compensatory arrangements of certain officers.
What is Lendway, Inc.'s principal executive office address?
Lendway, Inc.'s principal executive offices are located at 5000 West 36th Street, Suite 220, Minneapolis, Minnesota 55416.
What is the Commission File Number for Lendway, Inc.?
The Commission File Number for Lendway, Inc. is 001-13471.
Filing Stats: 551 words · 2 min read · ~2 pages · Grade level 9.7 · Accepted 2024-07-17 12:28:39
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share LDWY The Nasdaq Stock Mar
Filing Documents
- ldwy_8k.htm (8-K) — 44KB
- 0001654954-24-009051.txt ( ) — 165KB
- ldwy-20240716.xsd (EX-101.SCH) — 6KB
- ldwy-20240716_lab.xml (EX-101.LAB) — 14KB
- ldwy-20240716_cal.xml (EX-101.CAL) — 1KB
- ldwy-20240716_pre.xml (EX-101.PRE) — 9KB
- ldwy-20240716_def.xml (EX-101.DEF) — 2KB
- ldwy_8k_htm.xml (XML) — 4KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The 2024 Annual Meeting of Stockholders of Lendway, Inc. (the "Company") was held on July 16, 2024 and the stockholders voted on the following proposals, each as described in detail in the definitive proxy statement relating to the meeting, filed with the Securities and Exchange Commission on June 3, 2024. 1. Election of six directors. Nominee For Withheld Broker Non-Votes Mary H. Herfurth 251,287 15,084 933,563 Chad B. Johnson 231,708 34,663 933,563 Mark R. Jundt 248,651 17,720 933,563 Matthew R. Kelly 248,719 17,652 933,563 Daniel C. Philp 255,561 10,810 933,563 Nicholas J. Swenson 209,925 56,446 933,563 Based on the voting results, all six nominees were elected to serve as a director of the Company for a term of one year, or until their respective successor is elected. 2. The proposal to approve, by a non-binding vote, the Company's executive compensation received advisory approval based on the following votes: For Against Abstain Broker Non-Votes 236,710 28,313 1,348 933,563 3. The proposal to ratify the appointment of Boulay PLLP as the independent registered public accounting firm for the year ending December 31, 2024 was approved based on the following votes: For Against Abstain 1,102,823 97,046 65 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. LENDWAY, INC. Date: July 17, 2024 By /s/ Elizabeth E. McShane Elizabeth E. McShane Chief Financial Officer 3