LAKELAND INDUSTRIES, INC. (NASDAQ:LAKE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. |
On June 21, 2017, the stockholders of Lakeland Industries, Inc.
(the Company) approved the Lakeland Industries, Inc. 2017 Equity
Incentive Plan (the Stock Plan) at the Annual Meeting of
Stockholders. The executive officers and all other employees and
directors of the Company and its subsidiaries are eligible to
participate in the Stock Plan. The Stock Plan is administered by
the Compensation Committee of the Companys Board of Directors
(the Committee), except that with respect to all non-employee
directors, the Committee shall be deemed to include the full
Board. The Stock Plan provides for the grant of equity-based
compensation in the form of stock options, restricted stock,
restricted stock units, performance shares, performance units, or
stock appreciation rights. The Stock Plan also permits the grant
of awards that qualify for performance-based compensation within
the meaning of Section 162(m) of the U.S. Internal Revenue Code.
The Committee has the authority to determine the type of award,
as well as the amount, terms and conditions of each award, under
the Stock Plan, subject to the limitations and other provisions
of the Stock Plan. An aggregate of 360,000 shares of the Companys
common stock, par value $.01 per share, are authorized for
issuance under the Stock Plan, subject to adjustment as provided
in the Stock Plan for stock splits, dividends, distributions,
recapitalizations and other similar transactions or events. If
any shares subject to an award are forfeited, expire, lapse or
otherwise terminate without issuance of such shares, such shares
shall, to the extent of such forfeiture, expiration, lapse or
termination, again be available for issuance under the Stock
Plan. The foregoing summary of the Stock Plan is qualified in its
entirety by reference to the full text of the Stock Plan, filed
as Exhibit 4.1 to this Form 8-K and incorporated herein by
reference.
| Item 5.07. |
Submission of Matters to a Vote of Security Holders. |
The Company held its 2017 Annual Meeting of Stockholders on June
21, 2017. The final results of the voting for each matter
submitted to a vote of stockholders at the Annual Meeting are as
follows:
Proposal 1: The Board of Directors
nominees for Class I directors were elected to serve for three
years expiring at the Companys 2020 Annual Meeting of
Stockholders and until their respective successors are duly
elected and qualified, by the votes set forth below:
| Director | For | Withheld | Broker Non-votes |
| Christopher J. Ryan | 3,484,983 | 89,890 | 1,887,966 |
| A. John Kreft | 3,487,121 | 87,752 |
Proposal 2: The Stockholders ratified
the appointment of Friedman LLP, as the Companys independent
registered public accounting firm for the fiscal year ending
January 31, 2018, by the votes set forth below:
| For | Against | Abstain | ||
| 4,944,030 | 490,948 | 27,861 |
Proposal 3: The Stockholders approved,
on an advisory basis, compensation of the Companys named
executive officers, by the votes set forth below:
| For | Against | Abstain | Broker Non-votes |
| 3,422,865 | 130,609 | 21,399 | 1,887,966 |
Proposal 4: The Stockholders approved
the Lakeland Industries, Inc. 2017 Equity Incentive Plan, by the
votes set forth below:
| For | Against | Abstain | Broker Non-votes |
| 3,284,756 | 260,781 | 29,336 | 1,887,966 |
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 4.1 | Lakeland Industries, Inc. 2017 Equity Incentive Plan. |
LAKELAND INDUSTRIES INC ExhibitEX-4.1 2 v469192_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 LAKELAND INDUSTRIES,…To view the full exhibit click here About LAKELAND INDUSTRIES, INC. (NASDAQ:LAKE)
Lakeland Industries, Inc. (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves. The Company’s products are sold by its in-house customer service group, its regional sales managers and independent sales representatives to a network of over 1,200 North American safety and mill supply distributors. These distributors in turn supply end user industrial customers, such as integrated oil, chemical/petrochemical, utilities, automobile, steel, glass, construction, smelting, munition plants, janitorial, pharmaceutical, mortuaries and high technology electronics manufacturers, as well as scientific and medical laboratories.
