POWELL INDUSTRIES, INC. (NASDAQ:POWL) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 – Submission of Matters to a Vote of Security Holders
At the annual meeting of stockholders of Powell Industries, Inc. (the “Company”) held on February 21, 2018 (the “Annual Meeting”), the Company’s stockholders: (i) re-elected John D. White and elected James W. McGill as directors of the Company with terms ending in 2021 and (ii) approved, on an advisory basis, the Company’s “say-on-pay” proposal relating to the compensation paid to the Company’s named executive officers and the related compensation discussion and analysis contained in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on January 8, 2018. The other directors continuing in office are Brett A. Cope, Thomas W. Powell, Richard E. Williams, Christopher E. Cragg, Perry Elders and Bonnie Hancock.
The following describes the results of the voting at the Annual Meeting:
Proposal No. 1: Election of directors
|
Nominee |
Votes Cast For |
Vote Cast Against |
Votes Withheld |
Abstentions |
Broker Non-Votes |
|
James W. McGill |
9,267,193 |
90,876 |
|||
|
John D. White |
9,231,225 |
126,844 |
Proposal No. 2: “Say-on-Pay” advisory vote
|
For |
Against |
Abstain |
|
9,165,495 |
188,658 |
3,915 |
About POWELL INDUSTRIES, INC. (NASDAQ:POWL)
Powell Industries, Inc. develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment. The Company’s principal products include integrated power control room substations (PCRs), custom-engineered modules, electrical houses (E-Houses), traditional and arc-resistant distribution switchgear and control gear, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers and bus duct systems. These products are designed for application voltages ranging from 480 volts to 38,000 volts, and are used in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light rail traction power, electric utility, pulp and paper, and other heavy industrial markets.