On Track Innovations Ltd. (NASDAQ:OTIV) 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.
(d) As previously reported in the Original Form 8-K, at the Annual Meeting, an advisory vote was conducted on the frequency of holding future non-binding, advisory votes relating to the compensation of the Company’s named executive officers. The Board of Directors of the Company (the “Board”) recommended that advisory votes be held every three years, and a majority of the shares were voted for advisory votes to be held every three years. Consistent with the shareholders’ vote, the Board has determined that it will hold a non-binding, advisory vote on the compensation paid to the Company’s named executive officers once every three years. The Board may, in its discretion, determine to change the frequency with which the Company holds this vote.
About On Track Innovations Ltd. (NASDAQ:OTIV)
On Track Innovations Ltd. is a developer of cashless payment solutions. The Company’s segments include Retail and Mass Transit, Petroleum, Parking and Other. The Company offers solutions for banking, mobile network operators, vending, mass transit, petroleum and parking. The Company provides its customers with training and installation support, customer service and technical support. Its PayEnable technology can be implemented into a range of products. Its Retail and Mass Transit products include TRIO mPOS, Pico BT, WAVE, WAVE PKI, oti SATURN 6700 UNO, oti SATURN 6500 TRIO and oti SCI 6000. It also offers otiMetry and oti CONNECT 3000. Its EasyFuel Plus solution is a wireless, cashless, cardless and paperless refueling tracking and payment solution. Its EasyPark set of parking solutions provides parking fee collection, parking payment enforcement and parking management solution. Its MediSmart solution is an information management and claims submission system for the medical sector.