IDEAL POWER INC. (NASDAQ:IPWR) 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.
the shareholders at the Ideal Power Inc. (the Company) Annual
Meeting of Stockholders (Annual Meeting) held on June 21, 2017.
The proposals below are described in detail in the Companys Proxy
Statement which was filed with the Securities and Exchange
Commission on April 28, 2017. At the Annual Meeting, the
following proposals were approved.
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1.
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The following nominees were elected to serve as
directors until the election and qualification of his successor. |
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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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||||||
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R. Daniel Brdar
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3,789,520
|
316,362
|
3,371,040
|
||||||
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Mark L. Baum
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3,799,299
|
306,583
|
3,371,040
|
||||||
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Lon E. Bell
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4,067,511
|
38,371
|
3,371,040
|
||||||
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David B. Eisenhaure
|
4,067,511
|
38,371
|
3,371,040
|
||||||
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2.
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The appointment of Gumbiner Savett Inc. as the Companys
independent registered public accounting firm for the year ended December 31, 2017 was approved. |
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For
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Against
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Abstentions
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Broker Non-Votes
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|||||||
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6,706,227
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725,290
|
45,355
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About IDEAL POWER INC. (NASDAQ:IPWR)
Ideal Power Inc. (Ideal Power) designs, markets and sells electrical power conversion products using its Power Packet Switching Architecture (PPSA) technology. The Company’s PPSA is a power conversion technology that utilizes standardized hardware with application specific embedded software. It sells products to systems integrators for integration into their system, which enable end users to manage their electricity consumption by reducing demand charges or fossil fuel consumption, integrating renewable energy sources and form their own microgrid. It focuses on licensing PPSA-based product designs to original equipment manufacturers (OEMs) within its target markets. Its products use multiple insulated gate bipolar transistors (IGBTs), which switch power in a direction, including direct current (DC) to alternating current (AC), or AC to DC. The PPSA uses indirect power flow in which power flows through input switches, and is temporarily stored in its AC link inductor.
