ORBCOMM Inc. (NASDAQ:ORBC) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07
As previously reported in the Original Form 8-K, at the 2017 Annual Meeting, as recommended by the Company’s Board of Directors, the Company’s shareholders selected, on an advisory basis, holding the advisory shareholder vote on the compensation of the Company’s named executive officers on an annual basis by a vote representing more than 85% of the votes cast on the proposal.
In light of these voting results and other factors considered by the Board of Directors in making its recommendation to the shareholders, the Board of Directors determined that the Company will include an advisory shareholder vote on the compensation of its named executive officers in its proxy materials every year until the next advisory vote on the frequency of shareholder votes on executive compensation, which will occur no later than the Company’s Annual Meeting of Shareholders in 2023.
About ORBCOMM Inc. (NASDAQ:ORBC)
ORBCOMM Inc. is a provider of machine-to-machine (M2M) solutions, including network connectivity, devices and Web reporting applications. The Company’s M2M products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, intermodal containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in the transportation and distribution, heavy equipment, oil and gas, maritime and government industries. It provides Automatic Identification System (AIS) data services to assist in vessel navigation and to improve maritime safety to government and commercial customers across the world. The Company provides its services using various network platforms, including its own constellation of approximately 40 low-Earth orbit (LEO) satellites and its accompanying ground infrastructure.