CREDIT ACCEPTANCE CORPORATION (NASDAQ:CACC) 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.
Shareholders at which shareholders:
|
1.
|
Elected four directors to serve until the 2018 annual
meeting; |
|
2.
|
Approved named executive officer compensation on an
advisory basis; |
|
3.
|
Indicated, on an advisory basis, that the frequency of
future advisory votes to approve named executive officer compensation should occur every year; and |
|
4.
|
Ratified the selection of Grant Thornton LLP as our
independent registered public accounting firm for 2017. |
follows:
|
1.
|
>Election of four directors to serve until the 2018
Annual Meeting of Shareholders: |
|
Director Nominees
|
For
|
Withheld
|
Broker Non Votes
|
||||
|
Glenda J. Flanagan
|
15,296,236
|
55,821
|
2,697,395
|
||||
|
Brett A. Roberts
|
15,087,202
|
264,855
|
2,697,395
|
||||
|
Thomas N. Tryforos
|
15,227,097
|
124,960
|
2,697,395
|
||||
|
Scott J. Vassalluzzo
|
15,332,374
|
19,683
|
2,697,395
|
|
2.
|
Approval of the advisory vote on named executive officer
compensation: |
|
For
|
Against
|
Abstain
|
Broker Non Votes
|
||||
|
15,073,684
|
264,592
|
13,781
|
2,697,395
|
|
3.
|
Advisory vote on the frequency of future advisory votes to
approve named executive officer compensation: |
|
1 Year
|
2 Years
|
3 Years
|
Abstain
|
Broker Non Votes
|
||||||||||
|
14,994,169
|
109,847
|
247,746
|
2,697,395
|
|||||||||||
|
4.
|
Ratification of the selection of Grant Thornton LLP as our
independent registered public accounting firm for 2017: |
|
For
|
Against
|
Abstain
|
Broker Non Votes
|
||||
|
17,924,887
|
7,192
|
117,373
|
–
|
About CREDIT ACCEPTANCE CORPORATION (NASDAQ:CACC)
Credit Acceptance Corporation (Credit Acceptance) is a provider of financing programs to automobile dealers that enable them to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers; from repeat and referral sales generated by customers, and from sales to customers responding to advertisements for it products. The Company has two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, it advances money to dealer (Dealer Loan) in exchange for the right to service the underlying consumer loans. Under the Purchase Program, the Company buys the consumer loans from the dealer (Purchased Loan) and keeps all amounts collected from the consumer. Its target market is independent and franchised automobile dealers in the United States. It provides dealers the ability to offer vehicle service contracts to consumers through its relationships with third-party providers (TPPs).