ACORN ENERGY, INC. (OTCMKTS:ACFN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 6, 2018, following the Annual Meeting of Stockholders of Acorn Energy, Inc., at which he was re-elected to the Board of Directors, Edgar S. Woolard, Jr., resigned from the Board of Directors of Acorn Energy, Inc., effective immediately.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The Annual Meeting of Stockholders of Acorn Energy, Inc. was held August 6, 2018. Set forth below are the voting results with respect to each of the proposals presented at the Annual Meeting:
Proposal 1 – The stockholders elected, by a plurality of the votes cast, Jan H. Loeb, Gary Mohr, Michael Osterer, Edgar S. Woolard, Jr., and Samuel M. Zentman to the Board of Directors to serve until the Annual Meeting of Stockholders in 2019 and until their successors are duly elected and qualified.
| Name of Nominee | Total Votes For | Total Votes Withheld | Broker Non-Votes |
| Christopher E. Clouser | 2,864,072 | 551,154 | 14,626,369 |
| Jan H. Loeb | 10,614,123 | 397,538 | 14,626,369 |
| Mannie L. Jackson | 2,872,476 | 542,750 | 14,626,369 |
| Edgar S. Woolard, Jr. | 8,020,205 | 536,148 | 14,626,369 |
| Samuel M. Zentman | 8,134,133 | 422,220 | 14,626,369 |
| Gary Mohr | 7,596,435 | ||
| Michael Osterer | 7,596,435 |
Proposal 2 – The stockholders approved an amendment to the Company’s restated certificate of incorporation to authorize a reverse split of the Company’s common stock at any time prior to August 6, 2019, at a ratio between one-for-ten and one-for-twenty, if and as determined by the Company’s Board of Directors.
| Total Votes For | Total Votes Against | Total Abstained | Broker Non-Votes | |
| 20,492,991 | 4,249,141 | 53,256 | 842,642 |
Proposal 3 – The stockholders approved any motion to adjourn the Annual Meeting from time to time, if necessary or appropriate, to solicit additional proxies in the event there were not sufficient votes at the time of the Annual Meeting to approve Proposal 2.
| Total Votes For | Total Votes Against | Total Abstained | Broker Non-Votes | |
| 22,662,764 | 1,917,732 | 214,891 | 842,643 |
Proposal 4 – The stockholders ratified by the affirmative vote of a majority of the votes cast on the proposal, the appointment by the Audit Committee of Friedman LLP as the independent registered public accounting firm for the year ending December 31, 2018.
| Total Votes For | Total Votes Against | Total Abstained | Broker Non-Votes | |
| 25,309,173 | 181,107 | 147,750 |
Proposal 5 – The stockholders approved, in a non-binding advisory vote, the compensation of the Company’s named executive officers.
| Total Votes For | Total Votes Against | Total Abstained | Broker Non-Votes | |
| 10,744,502 | 215,078 | 52,080 | 14,626,370 |
About ACORN ENERGY, INC. (OTCMKTS:ACFN)
Acorn Energy, Inc. is a holding company that focuses on technology driven solutions for energy infrastructure asset management. The Company’s segments include Energy & Security Sonar Solutions (DSIT), Smart Grid Distribution Automation (GridSense) and Machine-to-Machine Critical Asset Monitoring & Control (M2M). The DSIT segment provides sonar and acoustic related solutions for energy, defense and commercial markets with a focus on underwater site security for strategic energy installations and other sonar and acoustic systems. The GridSense segment includes products and services that are provided by GridSense Inc. (GridSense), which develops markets and sells remote monitoring and control systems to electric utilities and industrial facilities across the world. The M2M segment includes products and services that are provided by OmniMetrix, LLC (OmniMetrix). OmniMetrix offers over two primary product lines, such as the Hero Rectifier Monitor and the Patriot Automated Test Stations.