ACORN ENERGY, INC. (OTCMKTS:ACFN) Files An 8-K Submission of Matters to a Vote of Security Holders

ACORN ENERGY, INC. (OTCMKTS:ACFN) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.

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The Annual Meeting of Stockholders of Acorn Energy, Inc. was held August 8, 2017. 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, all five nominees to the Board of Directors to serve until the Annual Meeting of Stockholders in 2018 and until their successors are duly elected and qualified.

Name of Nominee Total Votes For Total Votes Withheld Broker Non-Votes
Christopher E. Clouser 5,630,155 732,590 15,751,405
Jan H. Loeb 5,720,323 642,422 15,751,405
Mannie L. Jackson 6,033,870 328,875 15,751,405
Edgar S. Woolard, Jr. 5,720,723 642,022 15,751,405
Samuel M. Zentman 5,725,225 637,520 15,751,405

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 8, 2018, 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
18,172,466 3,774,491 167,190

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
18,414,472 3,595,441 104,230

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, 2017.

Total Votes For Total Votes Against Total Abstained Broker Non-Votes
21,085,823 967,540 60,787

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
5,718,583 579,149 65,013 15,751,405

Proposal 6 – The stockholders approved, in a non-binding advisory vote, “every year” as the frequency for the advisory vote on the compensation of the Company’s named executive officers.

Every Year Every Two Years Every Three Years Total Abstained Broker Non-Votes
5,771,005 91,208 446,759 53,772 15,751,406

In light of such result on Proposal 6, the Company will continue to include an advisory stockholder vote on the compensation of the Company’s named executive officers in its proxy materials every year.

Item 8.01 Other Events.

On August 8, 2017, the Board of Directors of Acorn Energy, Inc. established a Nominating Committee and a Compensation Committee. Charters for each of these committees will be posted under the “Investor Relations” section of the Company’s website. The members of the Nominating Committee are Christopher E. Clouser (committee chairman), Jan H. Loeb and Edgar S. Woolard, Jr. The members of the Compensation Committee are Manny L. Jackson (committee chairman), Christopher E. Clouser and Samuel M. Zentman.


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.

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