ELECTRO-SENSORS, INC. (NASDAQ:ELSE) Files An 8-K Other Events
Item 8.01. Other Events
As of February 28, 2017, Nancy Peterson was the beneficial owner
of, and had voting and dispositive control over, 51.7% of the
common stock of Electro Sensors, Inc. (the Company). Company
director Jeffrey Peterson is the son of Nancy Peterson.
As the majority shareholder of the Company, Nancy Peterson had
the ability to elect all directors of the Company. Nancy Peterson
passed away on March 18, 2017. Nancy Peterson and the Company did
not have a formal agreement with respect to the designation or
election of Jeffrey Peterson, or any other person, as a director
of the Company. The Company believes the ownership and control of
Nancy Petersons common stock will pass to her estate, the
trustees of any trust that holds this Company stock, her heirs
and her beneficiaries.
About ELECTRO-SENSORS, INC. (NASDAQ:ELSE)
Electro-Sensors, Inc. is engaged in manufacturing and selling industrial production monitoring and process control systems. The Company manufactures and sells monitoring systems that measure actual machine production and operation rates, as well as systems that regulate the speed of related machines in production processes. The Company’s segments include Production Monitoring and Investments. The Production Monitoring division manufactures and markets production monitoring equipment, in particular speed monitoring and motor control systems for industrial machinery. The Company markets its products to various industries located throughout the United States, Canada, Mexico, Latin America, Europe and Asia. The speed monitoring systems compare revolutions per minute or speed against acceptable rates as determined by a customer. The speed monitoring systems also include a line of products that measure production counts or rates, such as parts, gallons, or board feet. ELECTRO-SENSORS, INC. (NASDAQ:ELSE) Recent Trading Information
ELECTRO-SENSORS, INC. (NASDAQ:ELSE) closed its last trading session down -0.05 at 3.96 with 0 shares trading hands.
