Koss Corporation (NASDAQ:KOSS) 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 October 14, 2020, Koss Corporation (the “Company”) held its Annual Meeting of Stockholders. Due to health concerns from the COVID-19 pandemic, it was a completely virtual meeting.
At the Annual Meeting, the Company’s stockholders elected Thomas L. Doerr, Michael J. Koss, Steven A. Leveen, Theodore H. Nixon, and William J. Sweasy to serve as directors for one-year terms. The Company’s stockholders approved, on a non-binding advisory basis, the compensation paid to the Company’s Named Executive Officers as disclosed in the Proxy Statement. The Company’s stockholders voted, on an advisory basis, for the conduct of future advisory votes to approve the compensation paid to the Company’s Named Executive Officers on a yearly basis. In addition, the Company’s stockholders ratified the appointment of Wipfli LLP as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2021.
The following tables show the voting results of the Annual Meeting of Stockholders:
1. Election of directors.
2. Proposal to approve on a non-binding advisory basis, the compensation paid to the Company’s Named Executive Officers as disclosed in the Proxy Statement.
3. Advisory vote on the frequency of voting to approve the compensation paid to the Company\’s Named Executive Officers.
Based on the recommendations of the Company’s Board of Directors to hold advisory votes on executive compensation every year and the vote of the stockholders on this matter, the Company has decided that an advisory vote on executive compensation will be held every year until the next advisory vote on the frequency of future stockholder advisory votes on executive compensation.
4. Proposal to ratify the appointment of Wipfli LLP as the independent registered public accounting firm of the Company for the fiscal year ending June 30, 2021.
About Koss Corporation (NASDAQ:KOSS)
Koss Corporation is engaged in the design, manufacture and sale of stereo headphones and related accessory products. The Company operates in the audio/video industry segment of the home entertainment industry. It markets a line of headphones, wireless Bluetooth headphones, wireless Bluetooth speakers, computer headsets, telecommunications headsets, active noise canceling headphones, and compact disc recordings of American Symphony Orchestras on the Koss Classics label. It markets products used by consumers to listen to music, digital versatile discs (DVDs) in vehicles, sound bytes on computer systems, and other audio related media. The Company’s products are sold through retailers, distributors, audio specialty stores, the Internet, direct mail catalogs, regional department store chains, discount department stores, grocery stores, electronics retailers, military exchanges and prisons. It has a manufacturing facility in Milwaukee, Wisconsin. Koss U.K. Limited is its subsidiary.
