AMERICAN ELECTRIC TECHNOLOGIES, INC. (NASDAQ:AETI) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07
The voting results on the matters considered by the stockholders of American Electric Technologies, Inc., (“the Company”) at the Annual Meeting held on June5, 2018 were as follows:
| 1. | To elect five members to the Company’s Board of Directors |
|
Director Nominee |
Votes For | VotesWithheld | BrokerNon-Votes |
|
Charles M. Dauber |
4,676,680 | 967,827 | 1,239,220 |
|
Neal Dikeman |
4,677,881 | 600,259 | 1,605,787 |
|
Peter Menikoff |
4,677,991 | 599,940 | 1,605,996 |
|
J. Hoke Peacock II |
4,564,847 | 713,092 | 1,602,988 |
|
Edward L. Kuntz |
4,669,501 | 608,438 | 1,605,988 |
| 2. | To ratify the selection of the independent registered public accounting firm for the fiscal year ending December31, 2018. There were no Broker Non-Votes. |
|
Votes For |
Votes Against |
Votes Withheld |
| 7,745,115 | 100,027 | 6,612 |
| 3. | Advisory resolution to approve executive compensation. |
|
Votes For |
VotesAgainst |
VotesWithheld |
BrokerNon-Votes |
| 4,226,124 | 789,519 | 256,228 | 1,612,056 |
| 4. | Frequency of advisory vote to approve executive compensation |
|
1Year |
2Years |
3Years |
VotesWithheld |
| 1,784,486 | 15,713 | 3,465,416 | 12,324 |
| 5. | To approve the potential issuance of shares of Common Stock equal to 20% or more of our outstanding Common Stock upon conversion of and payment of dividends on our Series A Convertible Preferred Stock and exercise of our Series A and Series B Common Stock Purchase Warrants. |
|
VotesFor |
VotesAgainst |
VotesWithheld |
BrokerNon-Votes |
| 4,919,533 | 349,553 | 258,469 | 748,350 |
| 6. | To approve amendment of the 2007 Employee Stock Incentive Plan to authorize the issuance of an additional 500,000 shares of common stock under the plan and to makenon-employeedirectors eligible to receive awards under the plan. |
|
VotesFor |
VotesAgainst |
VotesWithheld |
BrokerNon-Votes |
| 4,630,366 | 632,010 | 265,209 | 748,320 |
The Board of Directors has considered the outcome of the advisory vote with respect to the frequency of the stockholder advisory vote to approve executive compensation and has determined that the Company will hold future votes to approve executive compensation every three years.
About AMERICAN ELECTRIC TECHNOLOGIES, INC. (NASDAQ:AETI)
American Electric Technologies, Inc. is a provider of power delivery solutions to the global energy industry. The Company serves a range of markets, such as power generation and distribution, oil and gas, and marine and industrial. It provides power delivery solutions for the power generation and distribution market sectors. It works with turbine manufacturers, engine-generator manufacturers and dealers, engineering, procurement and construction (EPC) firms, and high voltage service companies to provide electric power delivery products and solutions. It designs, manufactures, commissions and maintains its equipment for implementation in base-load, peaking power, cogeneration and substation transmission facilities across the world. It provides power delivery solutions for the upstream, midstream and downstream oil and natural gas sectors. Its industrial markets include non-oil and gas industrial markets, such as steel, paper, heavy commercial, and other non-oil and gas applications.
