MARINE PRODUCTS CORPORATION (NYSE:MPX) 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 2017 annual meeting of stockholders of the Company was held
on April25, 2017. At the annual meeting, the stockholders of the
Company (i)elected three Class I nominees to the Board of
Directors; (ii) ratified the appointment of Grant Thornton LLP as
the Companys independent registered public accounting firm for
the fiscal year ending December 31, 2017; (iii) held a nonbinding
vote on executive compensation; and (iv) held a nonbinding vote
regarding the frequency of voting on executive compensation.
The voting results for each proposal are as follows:
| 1. |
To elect the three Class I nominees to the Board of Directors: |
| For | Withheld |
Broker Non-Vote |
||||
|---|---|---|---|---|---|---|
| Class I nominees: | ||||||
| R. Randall Rollins | 31,576,557 | 991,361 | 1,146,243 | |||
| Henry B. Tippie | 31,662,353 | 905,565 | 1,146,243 | |||
| James B. Williams | 32,426,835 | 141,083 | 1,146,243 | |||
| 2. |
To ratify the appointment of Grant Thornton LLP as the Companys independent registered public accounting firm for the fiscal year ending December 31, 2017: |
| For | Against | Abstain |
| 33,705,726 | 7,716 |
| 3. | To hold a non-binding vote on executive compensation: |
| For | Against | Abstain |
Broker Non-Vote |
| 32,300,684 | 255,764 | 11,469 | 1,146,244 |
| 4. |
To hold a nonbinding vote regarding the frequency of voting on executive compensation: |
| 1 Year | 2 Years | 3 Years | Abstain |
Broker Non-Vote |
|||||
| 1,541,453 | 9,678 | 31,005,026 | 11,760 | 1,146,244 |
Based on these results and consistent with the Companys
recommendation, the Board has determined that the Company will
hold a non-binding advisory vote on executive compensation every
three years.
About MARINE PRODUCTS CORPORATION (NYSE:MPX)
Marine Products Corporation (MPC) is engaged in manufacturing powerboats and providing related products and services. The Company manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company operates in Powerboat Manufacturing business segment. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats. MPC designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, sport yacht, jet boat and sport fishing markets. The Company sells its products to a network of approximately 150 domestic and over 85 international independent authorized dealers. The Company manufactures Chaparral sterndrive pleasure boats, including H2O Sport, and Fish & Ski boats, SSi and SSX Sportboats, Sunesta Sportdecks, Signature Cruisers, SunCoast Sportdeck outboards, Vortex Jet Boats and Robalo outboard sport fishing boats. MARINE PRODUCTS CORPORATION (NYSE:MPX) Recent Trading Information
MARINE PRODUCTS CORPORATION (NYSE:MPX) closed its last trading session up +0.45 at 12.32 with 25,057 shares trading hands.
