COVENANT TRANSPORTATION GROUP, INC. (NASDAQ:CVTI) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
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Submission of Matters to a Vote of Security Holders.
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The Annual Meeting of Stockholders of Covenant
Transportation Group, Inc. (the “Company”) was held on Tuesday, May 16, 2017. Four proposals were voted upon at the Annual Meeting. The proposals are described in detail in the Companys proxy statement filed with the U.S. Securities and Exchange Commission on April 6, 2017. The final results for the votes regarding each proposal are set forth below. |
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1.
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The voting tabulation on the election of six (6) directors
was as follows: |
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Nominee
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For
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Withheld
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Broker
Non-Votes
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William T. Alt
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17,045,958
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1,255,505
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1,605,166
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Robert E. Bosworth
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17,602,790
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698,673
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1,605,166
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Bradley A. Moline
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17,805,632
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495,831
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1,605,166
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David R. Parker
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17,804,164
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497,299
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1,605,166
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Herbert J. Schmidt
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17,101,610
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1,199,853
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1,605,166
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W. Miller Welborn
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17,971,317
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330,146
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1,605,166
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2.
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The compensation of the Company’s named executive officers
was approved, on an advisory and non-binding basis, as follows: |
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Votes For
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Votes Against
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Abstentions
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Broker
Non-Votes
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17,805,876
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453,121
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42,466
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1,605,166
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3.
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In a non-binding, advisory vote, the stockholders voted as
follows on the proposal to select the frequency of future non-binding, advisory votes on the compensation of the Company’s named executive officers: |
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One Year
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Two Years
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Three Years
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Abstentions
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Broker
Non-Votes
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16,197,721
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6,051
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2,023,642
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74,049
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1,605,166
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Accordingly, the Companys stockholders expressed a
preference for a non-binding, advisory vote on executive compensation each year. The Companys Board of Directors considered the results of the non-binding, advisory vote on the frequency of votes on executive compensation and determined that it would hold future non-binding, advisory votes each year until the next stockholder non-binding, advisory vote on the frequency of these votes. |
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4.
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The appointment of KPMG LLP as the Companys independent
registered public accounting firm for the fiscal year ending December 31, 2017, was ratified as follows: |
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Votes For
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Votes Against
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Abstentions
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Broker
Non-Votes
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19,715,352
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165,642
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25,635
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—
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About COVENANT TRANSPORTATION GROUP, INC. (NASDAQ:CVTI)
Covenant Transportation Group, Inc. is a truckload transportation company. The Company provides truckload transportation and brokerage services to customers throughout the continental United States, into and out of Mexico, and into and out of portions of Canada. It operates through the asset-based truckload services (Truckload) segment. The Truckload segment consists of three asset-based operating fleets: Covenant Transport, Inc. (Covenant Transport) that provides expedited long haul, dedicated, temperature-controlled, and regional solo-driver service; Southern Refrigerated Transport, Inc. (SRT), which provides long haul, regional, and intermodal temperature-controlled service, and Star Transportation, Inc. (Star) that provides regional solo-driver and services, primarily in the southeastern United States. In addition, its Covenant Transport Solutions, Inc. (Solutions) subsidiary has service offerings ancillary to its Truckload operations, including freight brokerage services. COVENANT TRANSPORTATION GROUP, INC. (NASDAQ:CVTI) Recent Trading Information
COVENANT TRANSPORTATION GROUP, INC. (NASDAQ:CVTI) closed its last trading session up +0.39 at 16.61 with 159,798 shares trading hands.
