SIFCO Industries, Inc. (NYSEMKT:SIF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Principal Officers, Election
of Directors; Appointment of Principal Officers; Compensatory
Arrangements of Certain Officers
Long-Term Incentive Plan
shareholders of SIFCO Industries, Inc. (the Company), approved the
amendment and restatement of the SIFCO Industries, Inc. 2007
Long-Term Incentive Plan (the 2016 Amended and Restated LTIP).
and Restated LTIP (i) extend the term of the plan through 2026 (or
ten years from the effective date of the amendment and
restatement), (ii) increase the number of shares available for
award by 247,931 for a total of 646,401, and (iii) include a
clawback provision that clarifies that awards subject to recovery
under law, regulation, stock exchange listing requirement or the
Company’s policies will be subject to clawback as required under
such laws, regulations, requirements or policies
proxy statement in connection with the 2017 Annual Meeting. The
summary above does not purport to be complete and is qualified in
its entirety by reference to the 2016 Amended and Restated LTIP,
listed as Exhibit 10.1 hereto and filed with the Securities and
Exchange Commission as Exhibit A to the Companys Definitive Proxy
Statement dated December 6, 2016 and incorporated herein by
reference.
Shareholders. The following matters set forth in our definitive
proxy statement on Schedule 14A dated December 6, 2016 and filed
with the Securities and Exchange Commission were voted on at our
annual meeting of shareholders and the results of such voting is
indicated below.
|
1.
|
The seven nominees listed below were elected as directors of
the Company, each to serve on the Board of Directors until the Companys Annual Meeting in 2018, with the respective votes set forth opposite their names: |
|
Name of Director
|
Votes For
|
Votes Withheld
|
Broker Non-Votes
|
|
Jeffrey P. Gotschall
|
4,332,367
|
235,394
|
405,873
|
|
Peter W. Knapper
|
4,491,561
|
76,200
|
405,873
|
|
Donald C. Molten Jr.
|
3,801,540
|
766,221
|
405,873
|
|
Alayne L. Reitman
|
3,736,131
|
831,630
|
405,873
|
|
Hudson D. Smith
|
4,285,627
|
282,134
|
405,873
|
|
Mark S. Silk
|
3,931,116
|
636,645
|
405,873
|
|
Norman E. Wells, Jr.
|
3,844,831
|
722,930
|
405,873
|
|
2.
|
Ratify the designation of Grant Thornton LLP as the
independent registered public accounting firm of the Company for fiscal 2017. Voting results on this proposal were as follows: |
|
For
|
4,920,326
|
|
|
Against
|
20,166
|
|
|
Abstain
|
33,142
|
|
3.
|
To adopt the Amendment and Restatement of the SIFCO
Industries, Inc. 2007 Long-term Incentive Plan. Voting results on this proposal were as follows: |
|
For
|
4,471,805
|
|
|
Against
|
74,877
|
|
|
Abstain
|
21,079
|
|
|
Broker Non-Votes
|
405,873
|
|
10.1
|
SIFCO Industries, Inc. 2007 Long-Term Incentive Plan (Amended
and Restated as of November 16, 2016) is incorporated by reference to Exhibit A of the Companys Definitive Proxy Statement dated December 6, 2016. |
About SIFCO Industries, Inc. (NYSEMKT:SIF)
SIFCO Industries, Inc. is engaged in the production of forgings and machined components for the aerospace and energy markets. The Company’s processes and services include forging, heat-treating and machining. The Company services both original equipment manufacturers (OEM) and aftermarket customers with products that range in size from approximately 2 to 1,200 pounds. The Company’s products are made primarily of steel, stainless steel, titanium and aluminum, and include OEM and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; critical rotating components for helicopters, and commercial/industrial products. It also provides heat-treatment, surface-treatment, non-destructive testing and select machining of forged components. It supplies new and spare components to the United States military for aircraft, helicopters, vehicles and ammunition. SIFCO Industries, Inc. (NYSEMKT:SIF) Recent Trading Information
SIFCO Industries, Inc. (NYSEMKT:SIF) closed its last trading session up +0.48 at 8.10 with 3,001 shares trading hands.