Quantum Corporation (NYSE:QTM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Quantum Corporation (NYSE:QTM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Approval of Amendments to Long-Term Incentive Plan and Executive Officer Incentive Plan at Annual Meeting

At the annual meeting of stockholders (the “Annual Meeting”) of Quantum Corporation (the “Company”) held on August 23, 2017, the stockholders of the Company approved and ratified an amendment to the Company’s 2012 Long-Term Incentive Plan (the “Plan”) to, among other things, increase the number of shares of Common Stock available for issuance under the Plan by 2,100,000 shares and approve the Company’s amended and restated Executive Officer Incentive Plan (the “Executive Officer Incentive Plan”) so that the Company could continue to use the Executive Officer Incentive Plan to achieve the Company’s business objectives and to continue receiving a federal income tax deduction for certain compensation paid under the Executive Officer Incentive Plan.

The terms and conditions of the Plan and of the Executive Officer Incentive Plan are described in the Company’s definitive proxy statement, filed with the Securities and Exchange Commission on July 12, 2017. The Plan and the Executive Officer Incentive Plan are filed as Exhibits 10.1 and 10.2 hereto and are incorporated by reference herein.

Item 5.07.Submission of Matters to a Vote of Security Holders.

The following is a brief description of each matter submitted to a vote at the Annual Meeting held on August 23, 2017, as well as the number of votes with respect to each matter. For more information about these proposals, please refer to the Company’s Proxy Statement filed with the Securities and Exchange Commission on July 12, 2017.

Proposal 1

The stockholders elected the six nominees for director recommended by the Company’s Board of Directors (the “Board”) to the Board to serve until the next Annual Meeting or until their successors are elected and duly qualified, as set forth below:

Proposal 2

The stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the Company for the fiscal year ending March 31, 2018, as set forth below:

Proposal 3

The stockholders voted for the adoption of a resolution approving, on an advisory basis, the compensation of the Company’s named executive officers, as set forth below:

Proposal 4

The stockholders approved an amendment to the Company’s 2012 Long-Term Incentive Plan to, among other things, increase the number of shares of Common Stock available for issuance under the Plan by 2,100,000 shares, as set forth below:

Proposal 5

The stockholders approved the Company’s Executive Officer Incentive Plan:

Proposal 6

The stockholders adopted an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reduction in the number of authorized shares of common stock:

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

QUANTUM CORP /DE/ ExhibitEX-10.1 2 a8-24x17exhibit101.htm EXHIBIT 10.1 Exhibit Amendment to the Company’s 2012 Long-Term Incentive PlanQUANTUM CORPORATION2012 LONG-TERM INCENTIVE PLAN(August 23,…To view the full exhibit click here
About Quantum Corporation (NYSE:QTM)
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. It works with a network of distributors, value-added resellers (VARs), direct marketing resellers (DMRs), original equipment manufacturers (OEMs) and other suppliers to meet customers’ evolving needs. Its scale-out storage portfolio includes StorNext software, appliances and full systems called StorNext Pro Solutions, as well as Xcellis workflow storage, QXS disk storage, Lattus extended online storage and Q-Cloud Archive and Vault services. Its StorNext offerings enable customers to manage large unstructured data sets in an information workflow.