Primoris Services Corporation (NASDAQ:PRIM) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial
Condition.
On May8, 2017, Primoris Services Corporation, a Delaware
corporation (Primoris, the Company) issued a press release
announcing its financial performance for the year and first
quarter ended March31, 2017.
The information contained in the press release attached hereto is
being furnished and shall not be deemed filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), or otherwise subject to the liability of that
Section, and shall not be deemed incorporated by reference into
any registration statement or other document filed under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such
filing.
Item 5.07 Submission of Matters to a
Vote of Security Holders.
The annual meeting of the stockholders of Primoris, was held on
May5, 2017. The total number of shares of the Companys common
stock issued, outstanding and entitled to vote at the meeting was
51,437,305 shares. Represented at the meeting either in person or
by proxy were 45,930,200 shares, or 89.3% of shares entitled to
vote. The results of the votes for the proposals were as follows:
Proposal 1
To elect three ClassC directors to hold office for a three-year
term expiring at the annual meeting of stockholders to be held in
2020 or until their respective successors are elected and
qualified.
Robert A. Tinstman
Votes For 41,046,801; votes Withheld 2,272,226; Broker Non-Votes
2,611,173
David L. King
Votes For 31,571,040; votes Withheld 11,747,987; Broker Non-Votes
2,611,173
John P. Schauerman
Votes For 26,478,060; votes Withheld 16,840,967; Broker Non-Votes
2,611,173
In addition to the directors elected above, the following
directors term of office continued after the meeting until
subsequent annual meetings of the stockholders:
ClassA Directors with terms expiring at the 2018 annual meeting
of stockholders:
Brian Pratt
Thomas E. Tucker
Peter C. Brown
ClassB: Directors with terms expiring at the 2019 annual meeting
of stockholders:
Stephen C. Cook
Peter J. Moerbeek
Proposal 2
To provide a non-binding advisory vote approving the Companys
executive compensation program.
Votes For 42,409,983
Votes Against 859,413
Votes Abstain 49,631
Broker Non-votes 2,611,173
Proposal 3
To provide a non-binding advisory vote on the proposed timeline
for seeking executive compensation advisory votes in the future.
Votes Three Years 23,082,151
Votes Two Years 10,110
Votes One Year 20,210,780
Votes Abstain 15,986
Broker Non-votes 2,611,173
At a meeting held subsequent to the 2017 Annual Meeting of the
Stockholders on May5, 2017, the Board of Directors voted to adopt
the results of the advisory vote for Proposal 3. The Company will
provide the advisory vote for approving the Companys executive
compensation program every three years.
Proposal 4
Ratification of the appointment of Moss Adams, LLP as our
independent registered public accounting firm for the fiscal
year ending December31, 2017.
Votes For 45,465,442
Votes Against 464,040
Votes Abstain 718
Item 8.01 Other Events.
Declaration of Cash Dividend to Stockholders
On May5, 2017, the Board of Directors declared a cash dividend
of $0.055 per common share for stockholders of record as of
June30, 2017, payable on or about July14, 2017.
Item 9.01. Financial Statements and
Exhibits.
(d) Exhibits.
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ExhibitNo. |
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Description |
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99.1 |
Press Release dated May8, 2017 |
About Primoris Services Corporation (NASDAQ:PRIM)
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment. The West segment includes underground and industrial operations, and construction services performed by ARB, Inc., ARB Structures, Inc., Rockford Corporation, Q3C and Vadnais. The East segment includes the JCG Heavy Civil division, the JCG Infrastructure and Maintenance division, BW Primoris and Cardinal Contractors, Inc. construction business. The Energy segment includes operations of the Primoris Energy Services (PES) pipeline and gas facility construction and maintenance operations, the JCG Industrial division, the Surber and Ram-Fab operations, and the Primoris Aevenia, Inc. (Aevenia) operations. Primoris Services Corporation (NASDAQ:PRIM) Recent Trading Information
Primoris Services Corporation (NASDAQ:PRIM) closed its last trading session up +0.09 at 22.45 with 181,345 shares trading hands.
