QUANEX BUILDING PRODUCTS CORPORATION (NYSE:NX) Files An 8-K Results of Operations and Financial Condition
Item2.02. Results of Operations and Financial Condition.
On March6, 2017, Quanex Building Products Corporation (the
Registrant) issued a press release announcing its results of
operations and financial condition for the fiscal quarter ended
January31, 2017. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.
Item5.07. Submission of Matters to a Vote of Security
Holders
On March2, 2017, the Company held its Annual Meeting of
Stockholders, to notice and proxy mailed on January31, 2017, to
the Companys stockholders of record as of January12, 2017. There
were 34,406,433 shares of common stock entitled to vote at the
meeting, and a total of 32,986,169 shares were represented at the
meeting in person or by proxy.
At the Annual Meeting, two directors were elected for terms
expiring at the Companys 2018 Annual Meeting, with the following
tabulation of votes for each nominee:
|
Director Nominee |
Votes For |
Votes Against |
Abstain |
Broker Non-Votes |
Percentof SharesCastin Favor * |
|||||||||||||||
|
Susan F. Davis |
31,784,131 | 169,046 | 9,452 | 1,023,540 | 99.5 | % | ||||||||||||||
|
Curtis M. Stevens |
29,374,342 | 2,577,238 | 11,049 | 1,023,540 | 92.0 | % |
| * | Excludes Abstentions and Broker Non-Votes |
In addition to the election of directors, stockholders at the
Annual Meeting took the following actions:
|
Provided an advisory say on pay vote approving the Companys executive compensation programs; |
|
Approved an Amended and Restated Employee Stock Purchase Plan; |
|
Ratified the Audit Committees appointment of Grant Thornton LLP as the Companys independent auditor for the fiscal year ending October31, 2017; |
|
Provided an advisory vote relating to the frequency of future say on pay votes held by the Company. |
The tabulation of votes for the first three of these proposals is
set forth below:
|
Proposal |
Votes For |
Votes Against |
Abstain |
Broker Non- Votes |
Percentof SharesCast in Favor * |
|||||||||||||||
|
Advisory Vote to Approve Executive Compensation |
31,552,014 | 391,222 | 19,392 | 1,023,540 | 98.8 | % | ||||||||||||||
|
Approval of Amended and Restated ESPP |
31,925,017 | 18,257 | 19,354 | 1,023,540 | 99.9 | % | ||||||||||||||
|
Ratification of Companys Independent Auditor |
32,950,482 | 14,722 | 20,964 | % |
| * | Excludes Abstentions and Broker Non-Votes |
The tabulation of votes for the proposal related to the frequency
of future say on pay votes is set forth below:
|
Proposal |
One Year |
Two Years |
ThreeYears |
Abstain |
||||||||||||
| Frequency of Future Say on Pay Votes | 25,197,228 | 85,474 | 6,653,086 | 26,841 | ||||||||||||
|
Percent of Vote: |
78.8 | % | 0.3 | % | 20.8 | % | 0.1 | % | ||||||||
In light of the results of the advisory vote on the frequency of
say on pay votes, the Registrants Board determined to hold an
advisory say on pay vote annually. The Registrants Compensation
Committee will reevaluate this determination after the next
stockholder advisory vote on the frequency of say on pay votes
Item7.01 Regulation FD Disclosure.
On March6, 2017, the Registrant issued a press release announcing
that the Board had declared a quarterly cash dividend of $0.04
per share of common stock, payable on March31, 2017, to
Stockholders of record on March17, 2017. A copy of the press
release is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits
| * | 99.1 | Press Release dated March6, 2017 | ||
| * | Filed herewith. |
About QUANEX BUILDING PRODUCTS CORPORATION (NYSE:NX)
Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business. QUANEX BUILDING PRODUCTS CORPORATION (NYSE:NX) Recent Trading Information
QUANEX BUILDING PRODUCTS CORPORATION (NYSE:NX) closed its last trading session down -0.60 at 18.50 with 117,198 shares trading hands.
