EL POLLO LOCO HOLDINGS, INC. (NASDAQ:LOCO) 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.
On June 2, 2020, El Pollo Loco Holdings, Inc. (the “Company”) held its 2020 annual meeting of stockholders (\”Annual Meeting\”). As of April 9, 2020, the record date for the Annual Meeting, a total of 35,103,583 shares of the Company\’s common stock were outstanding and entitled to vote. A total of 33,266,603 shares were present in person or represented by proxy at the Annual Meeting, representing 94.77% of the outstanding shares, constituting a quorum.
The final results of voting for each matter submitted to a vote of stockholders at the Annual Meeting are as follows:
Proposal 1 was the election of three nominees to serve as Class III directors until the 2023 annual meeting and until their successors are duly elected and qualified. The result of the vote was as follows:
Proposal 2 was the ratification of the appointment of BDO USA, LLP, as the Company’s independent registered public accounting firm for 2020. The result of the vote was as follows:
Proposal 3 was a non-binding advisory proposal regarding compensation of the Company\’s named executive officers. The result of the vote was as follows:
Proposal 4 was a non-binding advisory proposal regarding the frequency of future advisory votes concerning the Company\’s named executive officer compensation. The result of the vote was as follows:
In response to the voting results on the Say-on-Frequency proposal and other factors, the Company’s Board of Directors determined via Unanimous Written Consent, on June 3, 2020, that the Company will hold an advisory vote on named executive officer compensation every year. The Company will continue to hold advisory votes on named executive officer compensation every year until the Company’s Board of Directors decides to hold the next stockholder advisory vote on the frequency of advisory votes, which shall be no later than the Company’s annual meeting of stockholders in 2026.
About EL POLLO LOCO HOLDINGS, INC. (NASDAQ:LOCO)
El Pollo Loco Holdings, Inc. is a restaurant concept that offers fire-grilling citrus-marinated chicken. The Company operates in the limited service restaurant segment. The Company’s activities are conducted through its subsidiary, El Pollo Loco, Inc. (EPL), which develops, franchises, licenses and operates quick-service restaurants under the name El Pollo Loco. The restaurants are located in California, Arizona, Nevada, Texas and Utah. The Company offers flame-grilled chicken in a range of contemporary Mexican-influenced entrees, including specialty chicken burritos, chicken quesadillas, chicken tortilla soup, Pollo Bowls and Pollo Salads. The Company operates approximately 190 and franchises over 250 El Pollo Loco restaurants. In addition, the Company licenses approximately two restaurants in the Philippines. The Company serves individual and family-sized chicken meals, a range of Mexican-inspired entrees and sides. It offers alternative proteins, such as shrimp, carnitas and beef.
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