ENERGY FOCUS, INC. (NASDAQ:EFOI) 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.
Energy Focus, Inc. (the “Company”) held its 2019 Annual Meeting of Stockholders (the “Annual Meeting”) on December 17, 2019. Set forth below are the seven proposals that were voted on at the Annual Meeting and the shareholder votes on each such proposal, as certified by the inspector of elections for the Annual Meeting. These proposals are described in further detail in the Company’s revised Definitive Proxy Statement filed with the Securities and Exchange Commission on November 8, 2019.
As of October 25, 2019, the record date for the Annual Meeting, there were 12,370,030 shares of Company common stock issued, outstanding and entitled to vote. A total of 9,849,745 shares of Company common stock, representing 79.62% of the shares of common stock outstanding, were represented at the meeting.
The Company adjourned the Annual Meeting with respect to Proposal 3, a proposal to amend the Certificate of Incorporation, as amended, of the Company to increase the number of authorized shares of common stock, and the number of authorized shares of preferred stock of the Company and to increase the number of shares of Series A Preferred Stock. The adjourned Annual Meeting with respect to Proposal 3 will take place on Wednesday, January 15, 2020, at 9:00 A.M. Eastern Time. The adjourned Annual Meeting will be held virtually and can be accessed by visiting www.virtualshareholdermeeting.com/EFOI2019.
With respect to the proposals other than Proposal 3, the results of the voting were as follows:
Proposal 1: Election of Directors
The five Directors listed above were elected to serve until the next annual meeting or until their respective successors are duly elected or appointed.
Proposal 2: Vote to approve issuance of shares of Series A Preferred Stock and Common Stock
Proposal 4: Vote to effect a discretionary reverse stock split of Common Stock
Proposal 5: Advisory vote on the compensation of named executive officers
Proposal 6: Advisory vote on the frequency of votes on the compensation of named executive officers
Based upon the results of the stockholder vote on Proposal 6, the Company intends to submit to its stockholders a non-binding advisory vote on executive compensation at its annual meeting every year until the next advisory vote on the frequency of stockholder voting on executive compensation.
Proposal 7: Ratification of the appointment of GBQ Partners LLC as the Company’s independent registered public accounting firm for 2019
About ENERGY FOCUS, INC. (NASDAQ:EFOI)
Energy Focus, Inc. along with its subsidiaries is engaged in the design, development, manufacturing, marketing, installation and sale of lighting systems. The Company is engaged in developing and selling of light-emitting diode (LED) lighting products for military maritime market, and general commercial and industrial markets. It produces, sources and/or markets a range of lighting technologies to serve its primary end markets. It offers military maritime products, such as Military Intellitube, military globe lights and military berth light to serve the United States navy and allied foreign navies. It offers commercial products, such as direct-wire tubular LED (TLED) replacements for linear fluorescent lamps, LED dock lights, low-bay and high-bay lighting for high-intensity discharge applications and LED retrofit kits to serve general commercial and industrial markets.
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