NN, INC. (NASDAQ:NNBR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On November2, 2016, the Board of Directors of NN, Inc. (the
Company) adopted and approved the Companys 2016 Omnibus Incentive
Plan (the Plan), subject to stockholder approval. The Plan was
submitted to the Companys stockholders at a special meeting of
stockholders held on December14, 2016 (the Special Meeting). At
the Special Meeting, the Companys stockholders approved the Plan,
and it became effective as of that date. The results of the
stockholder vote on the Plan are set forth below under Item5.07
of this Current Report on Form 8-K.
A description of the material terms of the Plan is set forth
under the caption Proposal 1: Approval of the 2016 Omnibus
Incentive PlanSummary of the 2016 Omnibus Incentive Plan in the
Companys Definitive Proxy Statement on Schedule 14A, filed with
the Securities and Exchange Commission on November10, 2016, and
is incorporated herein by reference. The description of the Plan
therein is a summary and is qualified in its entirety by the full
text of the Plan, a copy of which is incorporated by reference to
Exhibit 10.1 to this Current Report on Form 8-K.
Item5.07. Submission of Matters to a Vote of Security
Holders.
As of November1, 2016, the record date for the Special Meeting, a
total of 27,239,637shares of the Companys common stock were
outstanding and entitled to vote on all matters presented to the
Companys stockholders at the Special Meeting. At the Special
Meeting, the Companys stockholders considered the following
proposals:
| (1) | Approval of the 2016 Omnibus Incentive Plan; and |
| (2) | Approval of adjournments to the Special Meeting. |
The 2016 Omnibus Incentive Plan was approved, and the aggregate
votes cast for or against, as well as abstentions and broker
non-votes, were as follows:
|
For |
Against |
Abstain |
BrokerNon-Votes |
|||
| 20,320,882 | 3,285,353 | 107,097 |
Stockholder action on the second proposal, to approve
adjournments to the Special Meeting, was not required, and no
vote was taken on that proposal.
Item9.01. Financial Statements and Exhibits.
| (d) | Exhibits. |
|
ExhibitNo. |
Description |
|
| 10.1 |
NN, Inc. 2016 Omnibus Incentive Plan (incorporated by reference to Appendix A to NN, Inc. definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on November 10, 2016) |
About NN, INC. (NASDAQ:NNBR)
NN, Inc. is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers. Within its Precision Engineered Products Group, the Company designs and manufactures a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets. Within its Autocam Precision Components Group, the Company manufactures highly engineered precision metal components and subassemblies for the automotive, heating, ventilating and air conditioning, fluid power and diesel engine end markets. NN, INC. (NASDAQ:NNBR) Recent Trading Information
NN, INC. (NASDAQ:NNBR) closed its last trading session up +0.25 at 18.45 with 88,206 shares trading hands.