Insteel Industries, Inc. (NASDAQ:IIIN) Files An 8-K Submission of Matters to a Vote of Security Holders

0

Insteel Industries, Inc. (NASDAQ:IIIN) 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

Insteel Industries, Inc. (the “Company”) held its 2018 Annual Meeting of Shareholders (the “Annual Meeting”) on February 13, 2018. Set forth below is a brief description of each item submitted to a vote of the shareholders at the Annual Meeting and the final voting results for each item. A more complete description of each item is set forth in the Company’s proxy statement for the Annual Meeting, which was filed with the U.S. Securities and Exchange Commission on January 2, 2018.

Item Number OneElection of Directors

Each of the three nominees named in the proxy statement for the Annual Meeting were elected by the shareholders to the Board based on the following vote:

Nominee

Votes For

Votes Withheld

Broker

Non-Votes

Charles B. Newsome

10,408,216

6,816,933

871,313

G. Kennedy Thompson

14,141,719

3,083,429

871,313

H. O. Woltz III

13,031,567

4,193,582

871,313

Mr. Newsome was elected for a one year term ending at the 2019 Annual Meeting of Shareholders, at which time he is expected to retire. Messrs. Thompson and Woltz III were elected to three year terms ending at the 2021 Annual Meeting of Shareholders.

Item Number Two – Advisory Vote on the Compensation of the Company’s Executive Officers

The compensation of the Company’s executive officers was approved, on an advisory basis, by the shareholders based on the following vote:

Votes For

Votes Against

Abstentions

Broker

Non-Votes

16,745,415

338,323

141,410

871,313

Item Number ThreeRatification of the Appointment of Grant Thornton LLP

The appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending September 29, 2018 was ratified by the shareholders based on the following vote:

Votes For

Votes Against

Abstentions

17,967,583

122,340

6,538


About Insteel Industries, Inc. (NASDAQ:IIIN)

Insteel Industries, Inc. is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures, providing reinforcement for bridges, parking decks, buildings and other concrete structures. WWR is produced as an engineered reinforcing product for use in nonresidential and residential construction. Its products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Company sells its products nationwide across the United States, Canada, Mexico, and Central and South America.

An ad to help with our costs