AdCare Health Systems, Inc. (NYSEMKT:ADK) Files An 8-K Submission of Matters to a Vote of Security Holders

AdCare Health Systems, Inc. (NYSEMKT:ADK) Files An 8-K Submission of Matters to a Vote of Security Holders

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Item 5.07. Submission of Matters to a Vote of Security Holders.

On December 8, 2016, AdCare Health Systems, Inc. (the Company) held
its 2016 Annual Meeting of Shareholders in Duluth, Georgia (the
Meeting). The matters listed below were submitted to a vote of the
shareholders at the Meeting. Each proposal is identified and
described in the Companys Definitive Proxy Statement on Schedule
14A filed with the Securities and Exchange Commission on October
21, 2016. The number of votes cast for and against each proposal
voted on by the Companys shareholders and the number of withheld
votes, abstentions and broker non-votes are set forth below.
Proposal 1. Election of Directors
Shareholders elected the following six individuals to the
Company’s Board of Directors to serve until the 2017 Annual
Meeting of Shareholders and until their successors are elected and
qualified, or until their earlier death, resignation or removal.
The voting results were as follows:
FOR
WITHOLD
BROKER NON-VOTES
William McBride, III
6,062,826
2,994,680
8,412,338
Michael J. Fox
7,214,904
1,842,602
8,412,338
Thomas W. Knaup
6,273,240
2,784,266
8,412,338
Brent Morrison
7,340,732
1,716,774
8,412,338
Allan J. Rimland
6,066,511
2,990,995
8,412,338
David A. Tenwick
6,116,968
2,940,538
8,412,338
Proposal 2. Ratification of the Appointment of KPMG LLP as the
Companys Independent Registered Public Accounting Firm
The shareholders ratified the appointment of KMPG LLP as the
Companys independent registered public accounting firm for the year
ending December 31, 2016. The voting results were as follows:
FOR
AGAINST
ABSTAIN
17,359,191
109,511
1,142
Proposal 3. Approval, on an Advisory Basis, of the Compensation
of the Companys Named Executive Officers
The shareholders approved, on an advisory basis, the compensation
of the Companys named executive officers. The voting results were
as follows:
FOR
AGAINST
ABSTAIN
BROKER NON-VOTES
5,845,641
3,181,138
30,727
8,412,338
Proposal 4. Re-approval of the Material Terms of the Performance
Goals under the AdCare Health Systems, Inc. 2011 Stock Incentive
Plan
The shareholders re-approved the material terms of the
performance goals under the AdCare Health Systems, Inc. 2011
Stock Incentive Plan. The voting results were as follows:
FOR
AGAINST
ABSTAIN
BROKER NON-VOTES
5,852,854
3,193,500
11,152
8,412,338
Item 8.01. Other Events.
As reported in the Companys Quarterly Report on Form 10-Q for the
quarter ended September 30, 2016, the Company ceased all sales of
its Series A Preferred Stock under the Companys at-the- market
sales agreements (the ATM) and the related registration statement
in September 2016 and will not engage in any sales of its Series
A Preferred Stock until the preferred stock repurchase program
announced by the Company in November 2016 has terminated or
expired. The Company has terminated the ATM and it is no longer
available for use.


About AdCare Health Systems, Inc. (NYSEMKT:ADK)

AdCare Health Systems, Inc., through its subsidiaries, is a self-managed real estate investment company that invests in real estate purposed for long-term care and senior living. The Company’s business principally consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities. The Company owns, leases, or manages for third parties approximately 40 facilities mainly in the Southeast. Its portfolio consists of over 30 skilled nursing facilities, approximately two assisted living facilities and an independent living facility. The Company’s facilities provide a range of healthcare and related services to patients and residents, including skilled nursing and assisted living services, social services, various therapy services, and other rehabilitative and healthcare services for both long-term and short-stay patients and residents.

AdCare Health Systems, Inc. (NYSEMKT:ADK) Recent Trading Information

AdCare Health Systems, Inc. (NYSEMKT:ADK) closed its last trading session 00.00 at 1.57 with 95,690 shares trading hands.

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